Around 1.2 million current accounts were ditched and switched by customers in 2024, marking the second year in a row that the total was more than one million, according to a service set up to take the hassle out of moving banks.
Some 1,190,676 switches were processed by the Current Account Switch Service (Cass) in 2024. The service automatically moves payments from the old account to the new one and comes with a guarantee of individuals’ funds in case anything goes wrong. Additionally, those using the service can sometimes receive a cash switch offer as banks compete for their business.
