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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.
More people are switching bank accounts as providers compete with cash perks and better features.
According to the latest figures from the Current Account Switch Service (CASS), 288,999 switches were completed between April and June. This is down from the 319,529 reported in the first three months of this year.
June was the busiest month of the three, with 116,345 switches, followed by April with 89,908 and then May with 82,746.
Here, we look at which banks proved most popular, what to consider before switching, and where you can get a cash incentive to move.
The table shows the number of switches that have taken place in 2025 – alongside the new data for the first six months of 2026.
CASS data is released three months in arrears, so it has not yet published provider-level data for April to June 2026. This will be published later in the year.
The latest figures cover January to March 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 | +58,448 |
| Lloyds Bank | +24,349 |
| Monzo | +21,894 |
| TSB | +8,970 |
| Danske | +594 |
| Triodos Bank | +66 |
Source: CASS. Switches made outside CASS are not included.
Which? Recommended provider (WRP) Nationwide Building Society saw the highest net switching gains among people using CASS to move their accounts, recording 58,448 switches.
Its £175 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 Lloyds Bank (24,349) and fellow WRP Monzo (21,894). Although the app-based bank doesn’t often run switching incentives, it continues to be a popular choice.
TSB saw nearly 9,000 net gains across the first three months of the year. In May 2026, Santander completed its takeover of TSB, making it the third-largest UK bank in terms of personal current account deposits, behind Lloyds and NatWest.
This will likely affect the number of switchers. We have asked CASS whether TSB will continue to be treated separately or whether it will be merged as part of Santander.
While some banks saw strong gains, others lost thousands of customers over the same period.
Halifax saw the biggest losses across the first three months of this year, with net losses sitting at 21,869. Next was Barclays, with overall losses of 32,401 and gains of 11,621 - equating to a net loss of 20,780.
NatWest saw 13,596 join across January to March; however, with its losses at 32,315, it saw a net loss of 18,719.
According to CASS data, these were the biggest customer losses between January and March 2026.
| Provider | Net switching losses |
|---|---|
| Halifax | -21,869 |
| Barclays | -20,780 |
| Natwest | -18,719 |
| HSBC (including First Direct) | -14,368 |
| JP Morgan Chase | -10,904 |
| Virgin Money | -6,729 |
| Santander | -4,723 |
| Starling | -3,715 |
| Royal Bank of Scotland (RBS) | -3,605 |
| Bank of Scotland | -3,517 |
| Co-operative Bank | -721 |
| Ulster Bank | -586 |
| AIB (UK) Bank | -430 |
| Bank of Ireland | -408 |
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 46% citing this as the reason for switching. Interest earned on savings (33%) and customer service (29%) followed closely behind. Other important factors included attached benefits and features, at 25%.
Of those who switched between April and June this year, 74% said they prefer their new account, while just 2% said it was worse.
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 nine providers currently offering incentives:
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.
CASS has made switching banks easier than ever, and you can do it in just a few simple steps.
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.
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Before making the switch, it’s worth doing your research to make sure the new bank and account are the right fit for you.
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.
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.
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.
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.
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.
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