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The number of current account switches jumped by 55% in the third quarter of 2026 compared with a year earlier, according to a service which aims to take the hassle out of moving bank or building society.
Some 411,384 completed switches were recorded by the Current Account Switch Service (Cass) between July and September, up from 265,083 in the same period a year earlier.
It was the highest quarterly total since the fourth quarter of 2023.
September was the busiest month of the quarter, with 152,299 switches completed.
The third quarter brings the total number of completed switches in 2026 to 1,019,912, Cass said.
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).
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 people, 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 their bank or building society 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.”
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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:
AIB Group UK (includes Allied Irish Bank GB and NI brand switches), minus 291
Bank of Ireland, minus 295
Bank of Scotland, 2,200
Barclays, 21,169
Co-operative (includes Smile brand switches), minus 3,482
Danske, minus 12
Halifax, minus 20,728
HSBC (includes First Direct brand switches), minus 1,489
JP Morgan Chase, minus 10,772
Lloyds Bank, minus 7,175
Monzo, 17,544
Nationwide Building Society, 23,636
NatWest, 20,287
RBS (includes Coutts and Isle of Man brand switches), 1,520
Santander, minus 14,124
Starling Bank, minus 4,039
Triodos Bank, 127
TSB, minus 17,008
Ulster Bank, 1,013
Virgin Money, minus 4,502
