Bank account switching: A complete guide
Switching bank accounts is quick, easy, and can have great benefits such as cashback and rewards. With the Current Account Switch Service (CASS), you can do it in a few simple steps.
Key takeaways
The Current Account Switch Service (CASS) automatically switches over current accounts so payments are transferred seamlessly
A new bank account can offer rewards including cashback, overdrafts, exclusive savings accounts and retailer discounts
There’s no limit on the number of current accounts you can have, but the higher the number, the harder it will be to keep track of them all
What to consider before switching bank accounts
There usually aren’t many benefits to staying loyal to one bank, and by switching current accounts, there could be many benefits to take advantage of. These include:
One-off cash payouts to new customers
Overdraft
Linked savings accounts
Budgeting and savins tools
Cheaper rates
Discounts for specific shops or restaurants
But before you take the plunge, it's crucial to weigh up the pros and cons and consider whether it's the right decision for you.
Here are some of the before making the switch:
When looking for a new bank account, it's important to think about what you need first. An app-based bank, for instance, can be great for managing your money on the go but it’s not going to work if you also need branch access.
Similarly if you know you will need an overdraft, you will need a current account that offers one, and you’ll want to look at the cost of this kind of borrowing.
Many banks entice new customers with incentives such as cash bonuses or attractive interest rates. These perks can be quite lucrative, but it's important to read the fine print and understand the requirements to qualify for these benefits.
You may need to deposit a certain amount of money each month or set up some direct debits before you can receive the reward.
It’s also crucial to look at what the account offers, as this will be more important than any freebies or incentives on offer. There’s no point opening an account just for the cashback if you won’t actually be able to use it.
What to consider before switching
What do you need from a bank account?
Perks are enticing but always look at the details
What is CASS?
One of the most significant developments in the banking industry is the introduction of the Current Account Switch Service (CASS), which covers 99% of UK current accounts.
If the new account provider is part of the Current Account Switch Service, the switch can be done automatically within seven days.
This service ensures that your old account overdraft limit is matched (or you're aware of the need to clear the debt first), and all your incoming payments, direct debits, and standing orders are transferred smoothly.
If anything goes wrong during the switch, you will also be refunded for any charges or loss of interest.
How do you switch with CASS?
The Current Account Switch Service, sometimes referred to as the Current Account Switch Guarantee, ensures banks cannot delay the switching process. They are in charge of ensuring all of your payments are transferred.
As a part of Pay UK, CASS offers a seven-day transfer completion guarantee when you switch your current account. You don’t need to move any of your payments over as it handles the transfer of your balance, direct debits, and salary, all without charging a fee.
Step 1: Compare new accounts
Step 2: Sign up through your new current account provider
Step 3: The switch guarantee service will start the process
Step 4: The transfer will be completed within seven days
To ensure a smooth switch, avoid setting up new direct debits during the process, track your existing ones to ensure they're transferred correctly, and manually update recurring debit card payment details, as these are not covered by the Current Account Switch Service.
If you're overdrawn, don't switch unless the new provider can accommodate your overdraft.
How long does the current account switch process take?
The switching service takes seven working days. So the earliest your switch can be completed is just over a week from when you complete your switch request form and sign-up with your new bank. You choose the switch date you wish to complete the transfer, so it can be later if you prefer.
Your new bank will contact your old bank to get the switch underway a week before the switch date. You should then receive a letter confirming that your old bank has agreed to it.
How many times can I switch my current account?
There’s not a limit for the number of times you can switch your current account, but there are usually rules to follow in order to receive any switching incentives. This could be maintaining a certain balance over a set period, for example.
If you’ve previously had a current account with a bank you’re switching to, this may exclude you from any switching offers too.
Personal Finance Expert
Our expert says
We tend to overlook our current accounts but they are valuable weapons in our financial arsenal and even offer a cash incentive for switching (at the time of writing you can get up to £175.00[1] with MoneySuperMarket). Some perks can genuinely save us money when they fit our needs, and match our spending and saving habits. But even with the switch guarantee, we don't vote with our feet often enough when the account, service or provider isn't what we need or really want. It's high time we started flexing our muscles by switching our current accounts and making those providers work harder for us and our money.
While you should always weigh up the benefits before making a decision, thankfully because of CASS it is easier to switch than in the past.
How much money can I get for switching bank accounts?
Banks offer different cash incentives for switching to their current account, but it can be as much as £200 depending on the provider.
As of April 2025, the best bank switch offer available through MoneySuperMarket is £175.00[1]
You will have to meet the qualifying criteria. For example, you may have to pay at least £1,500 into your account within 60 days and switch at least two direct debits or standing orders. The introductory offer often rules out previous customers too.
As well as an initial switching incentive, current account providers might also offer cashback up to a certain amount each month and a linked high interest easy access savings account to help your money grow further.
Will switching current accounts impact my credit score?
Every time you apply for some type of credit, such as an overdraft, credit card, loan or mortgage, it will be registered on your credit file. This is because a hard credit search is made of your credit history, so a potential new lender can see how you’ve handled it in the past.
Frequent applications for credit or mismanaging your account can have a negative impact on your credit score.
Further reading
For more detailed information, consider reading guides on current accounts, managing bank accounts with bad credit, and strategies for clearing overdrafts:
Start your switch with MoneySuperMarket
Ready to switch? With MoneySuperMarket's comparison tool, the process is straightforward. Compare accounts and providers, then click through to begin the switching process.
You'll need to complete an application form, pass a credit check, and provide identification and proof of address.
How long will it take for me to receive the switch incentive?
When you receive the switch incentive will depend on the terms and conditions of each account. For example, you might be required to switch accounts, pay in a minimum amount of money and log-in to the app to fulfil the criteria. Once completed, you could then receive your switch incentive within seven days.
Will I be able to access my money during the switch?
Yes, you can carry on using your old bank account as normal until the day of the switch. By this point you should have everything you need, such as account details and a debit card, to start using your new current account. It’s wise not to set up any direct debits when the switching process is taking place. This reduces the chances of mistakes being made.
What is the difference between a full and partial bank account switch?
You have two choices when switching bank accounts. You can decide to move everything to your new account and close your old one, which is known as a full switch. Alternatively, you can move some payments across and keep the existing account open, which is instead known as a partial switch.
The best time to make a full switch may be when you no longer wish to use your old account and want to move as quickly as possible. A full switch will transfer all of your details and payments from the old account to the new one within seven working days. Once that is done, your old account will then be closed. This service is available to individuals, small businesses, and charities.
Choose a partial switch if you want to keep your old bank account open, but still take advantage of the benefits on offer from a new account. You get to pick and choose which payment arrangements and transactions are transferred, and you end up with two accounts to keep track of. Bear in mind that the seven-day current account guarantee does not apply to partial switches.
Can I open a new account rather than switch bank accounts?
Yes, there are no rules governing how many current accounts you can have. You just have to pass a credit check and meet the eligibility criteria for the new bank account. Having more than one account can sometimes be a useful way of managing your finances. If you are looking to take advantage of introductory offers make sure you understand the terms as some accounts will require you to pay in a certain amount each month.
Is there a cost for switching bank accounts?
No, under the terms of the current account switch guarantee switching bank accounts in the UK is free, although not all current accounts are free and some charge a monthly fee. Make sure you understand the terms and conditions of the account you are transferring to before you apply for the switch.
