Overview
- The Current Account Switch Service recorded 1,054,521 switches in 2025, including 350,114 in the final quarter, marking a third straight year above one million.
- Nationwide gained 41,450 customers between July and September, credited to its £175 switch offer, while Monzo and NatWest added 9,934 and 8,731; Santander lost nearly 20,000, Halifax 17,341 and Chase 7,623.
- Live offers highlighted this week include HSBC Premier up to £750, Santander Edge £225, First Direct effectively £225 (cash plus voucher), Nationwide £175, TSB up to £200, Co‑op up to £175 and Barclays £400 for small businesses.
- Banks generally require a full CASS switch within set time limits plus actions such as minimum pay‑ins, direct debits and card transactions, and CASS moves direct debits and standing orders but not recurring card payments.
- CASS reports that 72% of switchers prefer their new account, and outlets note some moves occur outside the service, meaning near‑term activity may exceed the official totals.