Business · Economy · 4 hrs ago
UK current account switches rose 55% in the third quarter
UK customers completed 411,384 current account switches between July and September 2026, a 55% increase on the same period a year earlier.
The total was the highest quarterly figure since late 2023, and brought completed switches for 2026 to more than one million.
The Current Account Switch Service moves payments to a new account and offers a guarantee to help protect customers if something goes wrong.
Nationwide gained 23,636 customers through the service between April and June, the strongest net gain among the providers listed.
The figures cover switches made through the service, not all account changes, and provider data was supplied voluntarily.
Customers can use the service to move accounts between banks and building societies, while eligible small businesses, charities and trusts can also use it.
The figures do not say what caused the increase or what switching levels will be in the next quarter.
Current account switches in the UK rose 55% in the third quarter of 2026 compared with the same period a year earlier.
The Current Account Switch Service recorded 411,384 completed switches between July and September.
That was the highest quarterly total since the fourth quarter of 2023.
September was the busiest month, with 152,299 completed switches.
The total number of completed switches in 2026 reached 1,019,912 by the end of the third quarter.
- Who
- Customers switching current accounts through the Current Account Switch Service.
- What
- Completed switches rose 55% year on year to 411,384 in the third quarter.
- When
- July to September 2026.
- Where
- The UK.
- Why
- Not stated
This story does not have two clearly opposing sides.
Cass recorded 411,384 completed current account switches.
The busiest month of the quarter saw 152,299 switches completed.
The year-to-date total reached 1,019,912 completed switches.
- Third-quarter switches
- 411,384
- Year-on-year increase
- 55%
- Same quarter in 2025
- 265,083 switches
- Busiest month
- September, with 152,299 switches
- 2026 total by end of third quarter
- 1,019,912 completed switches
What people are saying
The huge range of providers underscores the competitiveness of the market.
With over one million switches completed so far in 2026, it’s encouraging to see so many people exploring their options.
With continued pressure on household budgets, ensuring that your money is working as hard as possible is essential.
Switching accounts could potentially provide better interest rates, lower fees, and enhanced benefits.