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The most popular bank to switch to – and what to know before moving
The Current Account Switch Service has completed 1.3m switches in the past 12 months
With a background in financial journalism across national titles, Ruby loves helping people take control of their money and specialises in pensions, tax, banking and benefits.
As providers competed with cash perks and better features, current account switches jumped 55% over the summer to reach 411,384 – the highest quarterly total since late 2023.
According to the latest figures from the Current Account Switch Service (CASS), 131,594 people switched their bank account in July, with 127,491 doing so in August. September was the busiest month of the quarter, with 152,299 switches completed.
The influx lifts the total number of switches across 2026 past the one-million mark, standing at 1,019,912 by the end of September.
Here, we look at which banks proved most popular, what to consider before switching, and where you can get a cash incentive to move.
How many switches took place in 2025-26?
The table shows the number of switches that have taken place in 2025 – alongside the new data for the first nine months of 2026.
Which banks gained the most customers?
CASS data is released three months in arrears, so it has not yet published provider-level data for July to September 2026. This will be published later in the year.
The latest figures cover April to June 2026 and show net changes – the number of customers gained minus the number who left.
All the banks in our table saw a net increase in customers over these three months.
| Provider | Net switching gains |
|---|---|
| Nationwide Building Society | +23,636 |
| Barclays | +21,169 |
| Natwest | +20,287 |
| Monzo | +17,544 |
| Bank of Scotland | +2,200 |
| Royal Bank of Scotland (RBS) | +1,520 |
| Ulster Bank | +1,013 |
| Triodos Bank | +127 |
Source: CASS. Switches made outside CASS are not included.
Which? Recommended Provider (WRP) Nationwide Building Society recorded the highest net switching gains under CASS, gaining a net 23,636 accounts. Nationwide’s popular £175 switching bonus – alongside its £100 'Fairer Share' member payment – continues to drive its numbers.
Barclays followed in second place with a net gain of 21,169 accounts, while NatWest came third at 20,287.
Fellow WRP Monzo took fourth with 17,544 net switches, although the digital bank rarely offers upfront cash incentives, it continues to prove popular with switchers.
- Find out more: best banks and bank accounts in the UK 2026.
Which banks lost the most customers?
While some banks saw strong gains, others lost thousands of customers over the same period.
Halifax suffered the largest net decline at -20,728, followed by TSB at -17,008.
Earlier this year, it was announced that the Halifax brand would be axed and folded into Lloyds, with customers losing access to Halifax's online banking service at the end of September.
TSB's losses also come amid major changes to the bank. Santander completed its acquisition of TSB on 1 May, with plans to absorb the lender into its wider business. Although the transfer is underway, customers' accounts and services remain unchanged for now.
The acquisition made Santander the UK's third-largest bank by personal current account deposits, behind Lloyds and NatWest.
However, Santander also lost more switchers than it gained during the quarter. Despite attracting 23,376 customers, it saw 37,500 leave, resulting in a net loss of 14,124.
According to CASS data, these were the biggest customer losses between April and June 2026.
| Provider | Net switching losses |
|---|---|
| Halifax | -20,728 |
| TSB | -17,008 |
| Santander | -14,124 |
| JP Morgan Chase | -10,772 |
| Lloyds Bank | -7,175 |
| Virgin Money | -4,502 |
| Starling | -4,039 |
| Co-operative Bank | -3,482 |
| HSBC (including First Direct) | -1,489 |
| Bank of Ireland | -295 |
| AIB (UK) Bank | -291 |
| Danske | -12 |
- Find out more: best joint bank accounts 2026.
Why are people moving banks?
There are several reasons why you may choose to switch your bank account.
According to CASS, the most common motivation for moving was for better online and mobile app usage, with 43% saying this was their reason for switching. This is followed by better customer service (34%) and better interest on savings (31%).
Alongside this, over a quarter of switchers (27%) said they moved for spending benefits. This can include cashback and retailer perks. Finally, 24% said they switched banks due to account fees and charges.
Of those who switched between July and August this year, 74% said they prefer their new account, while just 2% said it was worse.
- Find out more: how to open a bank account online.
How much can you earn by switching?
Banks and building societies often offer cash or other perks to new customers who make a full switch from their existing current account.
Currently, there are eight providers currently offering incentives:
- Santander: £240
- Barclays: £300
- Lloyds: £200
- HSBC: £220
- Nationwide: £175
- First Direct: £200
- NatWest and RBS: £200
These offers usually come with conditions. You may need to pay in a certain amount, set up direct debits, or log in to online or mobile banking.
Some banks also split the payment, paying part of the incentive soon after you switch and the rest at a later date.
- Find out more: best bank account switching deals November 2026.
How to switch your bank account
CASS has made switching banks easier than ever, and you can do it in just a few simple steps.
- Apply for a new account on the provider's website. Once you're approved, tell it you want to switch over your old account using CASS. Your new bank will take it from there, and you'll just need to agree to its terms and conditions.
- Your new bank or building society will then start moving everything across, including your balance, regular payments – such as your pension or salary – direct debits and standing orders.
- Continue using your old account as normal until your switch date. By day seven, your new account takes over and your old one is closed automatically.
During the process, your new bank will update you on how it’s progressing. CASS also covers you for any charges or missed interest you face if anything goes wrong.
- Find out more: how to switch your bank account.
5 things to check before switching
Before making the switch, it’s worth doing your research to make sure the new bank and account are the right fit for you.
1. Check that you meet the eligibility rules
Many people switch for a cash incentive, but if that’s the only reason, it may not pay off in the long run. Switching deals usually have eligibility criteria.
These often include switching at least two active direct debits from your old account, paying in a minimum amount (either once or regularly), and keeping the account open for a set period.
Most incentives aren't available to existing or recent customers. For example, to qualify for First Direct’s £175, you must not have been a First Direct or HSBC customer since 1 January 2018.
- Find out more: best high-interest bank accounts 2026.
2. Weigh up the perks against the costs
Think about whether the benefits of a new account match your needs. A high-interest saver or cashback rewards are only useful if you’ll actually use them.
Premium accounts can include extras such as breakdown cover, ID fraud protection, or travel, gadget and phone insurance. If you already pay for these services, switching to a packaged account could save you money – but they usually come with a monthly fee.
Compare the fee with the value of the perks to see if you’ll come out ahead.
- Find out more: best packaged bank accounts 2026.
3. Review your overdraft options
If you use an overdraft, check whether the new bank can offer one on competitive terms.
Look for interest-free buffers – even if small – to cover short-term gaps. If you’re likely to go over, compare rates for authorised and unauthorised overdrafts – charges vary significantly between banks.
- Find out more: best bank accounts for an overdraft 2026.
4. Consider branch access
More than 6,719 branches have closed over the past decade.
If you rely on in-person banking, make sure your new provider has a local branch. Nationwide has pledged to keep branches open until at least 2030, HSBC until 2027, and Barclays for the next two years.
- Find out more: bank branch closures: is your local bank closing?
5. Check the terms of any linked savings accounts
If you hold a fixed-term regular saver, check the terms before closing your current account.
Many regular saver accounts are linked to a specific current account and may close automatically if you switch. Others will cut your interest rate if you close the account before the term ends, which could cost you money.
If your saver is close to maturing, it may make sense to wait before switching. But if you’ve only recently opened it, moving now could still work – particularly if the new bank offers a similar or better rate.
- Find out more: best savings rates 2026.
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