[ad_1]
It is estimated that about a million people have replaced their current account last year, according to a service prepared to get the troubles from moving to a new provider.
About 1,093,117 current account keys were made between April 1, 2024 and March 31, 2025, by customers who use the current account replacement service (Cass).
A total of 222,805 keys to the current account between January and March 2025 were completed by customers who use the service, which was less than 320,364 registered key in the same period in the previous year.
The numbers provided by banks and construction societies also show that the Building Association worldwide, Lloyds, Natest and Cooperative Bank have achieved the highest net exchange gains between October and December 2024.
NATORWIDE got the highest net switching gains with 51,254 during this period, followed by bankds bank (50,061), NatWest (7,279) and the cooperative bank (3,812).
The numbers do not include customers who have not used Cass to transfer their current account.
March was the most crowded month of the year so far to switch, as it was 79,680 key, followed by February (76,007) and January (67,119).
The service said that customers continued to highlight digital jobs and account advantages as major replacement reasons. The banking services for the application via the Internet or mobile devices are the highest reason for the preference of a new account, as its research indicates, followed by acquired interest, customer service and spending benefits.
The service automatically transmits payments to the new account and has a guarantee so that customers are not left from their pocket if something wrong occurs in the key.
You want to do a bank key to get 150 pounds sterling+ do so as soon as possible. Three of the five are likely to disappear next week. I go near the top of the pod … https://t.co/pa2MXUUAP
Martinslewis December 6, 2024
Since the service was launched in 2013, it has facilitated more than 11.6 million key and was directed to direct more than 163.6 million paid.
“The latest current account switching numbers shows a decrease in people who transport banks in the first three months of the year compared to the end of 2024. However, the high family bills in April may encourage people to switch in the coming months,” said Charlie Evans, a market expert on the market.
“The current account market is very capable of competing, as it offers a variety of benefits accounts. Shopping can help you get a better deal in achieving the maximum benefit from these offers.
“The data shows that the Bankwide and LLOYDS Bank were the first options to switch the current account at the end of last year. Both offered replacements for more than 175 pounds, but these deals have now ended.
“You will be able to find a number of deals that can be compared by comparing the market, including the first account of the 1 175 pounds of first banking.”
Recommended reading:
Below are the net switching gains or losses taken by service providers between October 1 and December 31, 2024. The numbers include people, small companies and small charities that have been transformed using Cass and were covered with switching and re -oring services. The numbers do not include keys made out of service:
- AIB Group (UK), minus 463
- Ireland Bank, minus 357
- Scotland Bank, minus 2,176
- Barclays, minus 37128
- The Cooperative Bank (includes a smile brand), 3,812
- Dansky, minus 431
- Halifax, minus 20,508
- HSBC UK (includes the first brand), minus 5,935
- Jp Morgan Chase, minus 7,352
- Lloyds Bank, 50,061
- Monzo, 1678
- Building Association at the national level, 51254
- Natest, 7,279
- RBS (COUTTS and ISLE OF MAN), minus 5,765
- Santander, minus 2799
- Starling Bank, minus 3405
- TrioDos Bank, minus 23
- TSB, minus 17798
- Ulster Bank, minus 780
- Virgin Money, Minus 4,809
