Nationwide, Monzo, HSBC and Starling Bank gained the most current account customers between July and September 2019, according to data from Bacs.
These providers appear to have won new customers by offering various perks such as switching bonuses, fee-free withdrawals abroad and high-tech personalised mobile banking features.
At the other end of the scale, the biggest losers from the latest switch figures were Halifax, NatWest, Lloyds Bank and Royal Bank of Scotland (RBS).
Here, Which? looks at why people have been switching and explains how to move to a new bank or building society if you're tempted by another provider.
The most recent data from Bacs shows the number of full account switches between 1 July and 30 September 2019.
Here's how the banks and building societies fared:
Nationwide was the biggest winner, with a net gain of 25,355 new current account customers in this period.
The provider had likely attracted customers with its current account perks. For example, if you pay in at least £1,000 each month into its FlexDirect account, you'll get 5% AER interest on balances up to £2,500 for the first 12 months.
Meanwhile, HSBC, which includes First Direct and M&S Bank, brought in a collective net gain of 17,204.
HSBC had been offering a £175 switching bonus, which could explain the surge.
However, it's worth noting that offered as a perk to current account customers last year. The rate almost halved from a market-leading 5% to 2.75% AER, which could impact whether some customers choose to stick with the brands.
The other biggest losers from the latest switching figures included RBS and NatWest, which shed a net of 5,122 and 9,885 customers, respectively. Meanwhile, Lloyds Bank suffered an overall loss of 8,076.
Challenger bank customers on the rise
Of the five banks with positive net gains, two of them were mobile challenger banks. These branchless, app-only banks have focused on modern design, personalisation, low fees and snappy customer service to attract new people.
Monzo enjoyed a net gain of 21,576 customers in the period, while Starling Bank - a Which? Recommended Provider - had a net gain of 7,075.
A succession of appealing cash incentives has likely been a key factor in some people's decisions to ditch their banks.
Banks currently offering a switching bonus include:
Nationwide members have been able to earn up to £500 per tax year by recommending five friends to its FlexAccount, FlexPlus or FlexDirect since last June.
Indeed, Nationwide enjoyed the largest number of net gains, which shows incentives do sometimes tally with an influx of new customers.
But offering a cash incentive doesn't always mean more net gains. For example, RBS offered a switching bonus in August 2019, but still suffered a net loss of £5,122 according to the Bacs figures.
In recent months, a number of banks cut their switching bonuses including NatWest, which also previously offered £150 for its Reward Account.
Meanwhile, last July, First Direct halved its switching bonus to £50, but changed it back to £100 before the end of 2019.
Your current account service is not something you're likely to think about that often, provided everything is working how it should.
However, there are some great benefits to switching your current account including receiving cash bonuses or unlocking perks such as a market-leading savings rate.
But there's no 'one size fits all' solution when it comes to choosing a current account; the best deal should match your individual circumstances.
For example, factors such as customer service and interest rates could play a part in your decision.
Depending on what kind of account you're after, our other guides can also help pinpoint a deal to match your circumstances:
Once you've decided which bank you want to switch to, you can apply to open it online, over the phone or in a branch.
If the provider is part of the current account switch service (CASS), you'll be able to open the account in seven working days.