Uk Current Account Switching Statistics

Current account switch service statistics.

Uk current account switching statistics.

Latest news and press releases from bacs. This page provides forecast and historical data charts statistics news and updates for united kingdom current account balance. Uk interbank payment schemes. Everything you need to know about using the current account switch service to transfer your bank account.

Cass annual report 2019. Current account balance for united kingdom from u k. Furthermore in 2017 switches totalled 931 956. In 2019 1 2 million uk residents had no current account over a period of 12 months from april 2018 to march 2019 there were 921 065 switches through the current account switch service those under 35 are 3 times more likely to actively think about switching than those aged over 55.

That is down 2 4 from 965 317 switches in the 12 month period to end june 2018. Processing volumes the history of transactions for both direct debit and bacs direct credit and various statistics and research papers about the current account switch service. Yearly current bank account switching numbers in the united kingdom uk 2012 2019 percentage of bank clients switched main current bank account in the uk 2011 2014 uk banking. The days of over one million current account switches in the uk such as in 2016 seem to be long gone.

The latest figures for the current account switch service show that 265 195 switches were successfully completed in the first quarter of 2019 taking the total since the service launched in 2013 to over 5 6 million switches. This statistic presents the volume of bank account switching using the new current account switch service cass. In comparison in the whole of 2018 there were 929 070 switches. Another set of uk 7 day current account switching statistics is released and another fall in annual switching is revealed.

The rate of decline has at least slowed. Office for national statistics ons for the balance of payments release. Between 1 april 2018 and 31 march 2019 there were 921 065 current account switches in the uk.