The most popular bank to switch to – and what to know before moving

More people are switching bank accounts as providers compete with cash perks and better features.

Current account switching levels jumped by 43% in the first three months of this year, according to the latest figures from the Current Account Switch Service (CASS).

A total of 319,529 current account switches were recorded between January and March 2026 – 222,805 were recorded during the same period in 2025.

Here, Which? looks 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 three 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 January to March 2026. This will be published in the summer.

The latest figures by provider cover October to December 2025 and show net changes – the number of customers gained minus the number who left. October was the busiest month with 128,199 switches. 

All of the banks in our table saw a net increase in customers over this three-month period. 

Which? Recommended provider (WRP) Nationwide Building Society saw the highest net switching gains among people using CASS to move their accounts, recording 64,527 switches. Its switching offer available during the period, as well as its £100 Fairer Share bonus scheme, may have played a role in attracting new account holders.

This was followed by Barclays (18,534) and Lloyds Bank (12,073).

Which? Recommended Provider Monzo followed, with 9,074 more net customers. Although the app-based bank doesn’t often run switching incentives, it continues to be a popular choice.

• Find out more: best banks and bank accounts in the UK 2025.

Which banks lost the most customers?

While some banks saw strong gains, others lost thousands of customers over the same period.

Halifax saw the biggest losses across the final three months of last year, with net losses sitting at 25,629. Next, it was Santander with overall losses of 23,795. 

HSBC (including First Direct) saw 23,519 join in across October to December; however, with its losses at 44,337, it saw a net loss of 20,818. 

According to CASS data, these were the biggest customer losses between October and December 2025:

• Find out more: best joint bank accounts 2025.

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 is better online and mobile banking, with 43% citing this as the reason for switching. Interest earned on savings (32%) and customer service (32%) follow closely behind. 

Other important factors included attached benefits and features, and the location of branches, both at 26%. 

Of those who switched in the first three months of this year, 68% 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.

The switching market is competitive, with four providers currently offering incentives:

• Barclays: £200
• Lloyds Bank: £200
• Santander: £180 + £25 Amazon voucher
• First Direct: £175

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 May 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. 

1. 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.
2. 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.
3. 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.

Make money make sense

Make every penny count. Get the best deals, avoid scams, and grow your savings with expert guidance for only £49 a year.

Join Which? Money

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.

Compare savings accounts

Find the right savings account for you using the service provided by Experian Ltd

Compare and choose