UK current account switching up 4% in H1

Source: Bacs

The latest figures for the Current Account Switch Service are published today (20 July), which show that over three million accounts have now been switched since the service launched in 2013.

During the first six months of this year 567,677 switches took place – a four per cent increase compared to the first half of 2015.

And, by the end of last month, 75 per cent of people in the UK were aware of the Current Account Switch Service – up by 17 percentage points since launch.

A total of 1.05 million switches took place in the last 12 months (1 July 2015-30 June 2016), with 257,999 switches completed in the last quarter alone (April-June 2016).

While this year has already seen the roll-out of awareness-raising activity targeting consumers and SMES, the third quarter of 2016 will see the launch of another high-profile campaign. This will encompass prominent TV, radio, print, and digital advertising to mark the third anniversary of the service.  

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