Current Account Switch Service: how switching bank accounts works
Published · 3 min read · Figures checked . UK rules and rates change, so check the official sources below before you act.
The Current Account Switch Service moves your payments and balance from one current account to another in seven working days. This guide explains the steps, the guarantee, what it cannot switch and where joint accounts and overdrafts fit.
What the service is
The Current Account Switch Service (CASS) is a scheme run for banks and building societies, with Pay.UK as the operator. It lets you move a current account from one participating provider to another. According to the scheme, it is free to use, and both your old and your new provider must be signed up. More than 50 UK banks and building societies take part.
How a switch works
- You open a new current account with the provider you are moving to and choose a switch date.
- You sign a switch agreement and a closure instruction. The new provider handles the paperwork with your old one.
- On the switch date, regular payments in (such as salary or benefits) and out (such as Direct Debits and standing orders) move to the new account, along with any money in the old account.
- Your old account is closed once the switch is complete.
You can keep using your old account until the switch date. The scheme says not to set up new payments during the seven-day period, because they will not transfer.
The switch guarantee
The scheme publishes a guarantee that your new provider gives you. It says that if anything goes wrong with the switch, the provider will refund any interest (paid or lost) and charges made on either your old or new current account because of the failure. It also says that payments accidentally made to your old account will be redirected to the new one, and that the provider will contact you before the switch date if there are any issues.
What it cannot do
- It does not switch savings accounts or ISAs.
- It is a full switch. If you want to keep your old account open, the scheme says you cannot use the service to do that.
- A joint account can be switched only to another joint account, and both people must agree. It cannot be switched to a sole account.
- Some providers set conditions on their accounts, such as a minimum monthly amount paid in or a minimum number of Direct Debits. It can be worth checking these before you start.
Overdrafts
You can switch while overdrawn, but any overdraft you need must be agreed with your new provider. If it is not agreed, the scheme says you need to make separate arrangements to repay the existing overdraft before you switch. The new provider decides using its normal lending checks, so it is not guaranteed.
Other options
Some people open a new account and move payments by hand instead of using the service. The guarantee above applies to the scheme, so many people check what protection they have if they choose another route. If you are worried about money or an overdraft, free help is available from MoneyHelper, Citizens Advice and StepChange.
Check before you act
Rules, rates and provider conditions can change. Please confirm the details on the official pages linked below before making any decision.
Sources
For information only. See our disclaimer and editorial standards. Spotted an error? Tell us.
