Current account switches jump 55% to highest quarterly total since 2023

The number of current account switches completed via the Current Account Switch Service (Cass) jumped by 55% in the third quarter of 2026 compared with a year earlier, reaching the highest quarterly total since 2023.

Some 411,384 completed switches were recorded between July and September, up from 265,083 in the same period a year earlier. This was the highest quarterly total since the fourth quarter of 2023. September was the busiest month of the quarter, with 152,299 switches completed.

2026 total passes one million

The third quarter brings the total number of completed switches in 2026 to 1,019,912, according to Cass.

Figures provided voluntarily by banks and building societies also showed that, between April and June, Nationwide Building Society was among the "winners" among customers using Cass to switch to it, with a net gain of 23,636. It was followed by Barclays (21,169), NatWest (20,287) and Monzo (17,544).

Provider gains and losses

Fred Powell, head of current accounts at Nationwide, highlighted the society's "fairer share" payments to its members, as well as its branch promise to keep branches open until at least the start of 2030 and services such as dementia clinics.

Customers using Cass automatically have their payments moved to their new account, and a guarantee is in place to help make sure customers are not left out of pocket if something goes wrong with the switch. As well as individuals, small businesses with a turnover of up to £6.5 million, small charities with an annual income of less than £6.5 million, and small trusts with a net asset value of less than £6.5 million can switch their current account provider using Cass. Customers can still switch outside of Cass if they choose to.

John Dentry, product manager at Pay.UK, owner and operator of Cass, said: "The huge range of providers underscores the competitiveness of the market."

Abigail Foster, a personal finance expert at Compare the Market, said: "With over one million switches completed so far in 2026, it's encouraging to see so many people exploring their options. With continued pressure on household budgets, ensuring that your money is working as hard as possible is essential. Switching accounts could potentially provide better interest rates, lower fees, and enhanced benefits."

Here are the net completed switch gains or losses between April 1 and June 31 for providers among customers using Cass. The data is provided voluntarily and does not include switches outside the scheme: