20 October 2016
Visit dh.com

UK current account switching service sees modest growth

20 hours ago  |  1885 views  |  0 Source: Bacs

The latest figures for the Current Account Switch Service are published today (20 October), showing that 802,036 switches have taken place since January 2016, an increase of 3% compared to the same period in 2015.

A total of 1.06 million switches were completed in the last 12 months (1 October 2015 – 30 September 2016), up from 1.03 million in the same period one year before, with 234,359 switches recorded in the last quarter alone (1 July – 30 September).

And, by the end of last month, 74% of people in the UK were aware of the Current Account Switch Service – up by 16 percentage points since launch.

The switching engine has now seen 3,311,803 successful switches since 2013 – including over 70,000 small business accounts – and reports a seven day switching success rate of 99.5 per cent.

A brand new website (www.currentaccountswitch.co.uk), and a new multi-million pound media campaign, encompassing prominent TV, radio, print, and digital advertising, was launched last month to coincide with the service’s third anniversary.  

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euFind out moreVisit capgemini.com

Top topics

Most viewed Most shared
The bank of the future will be invisible - KPMGThe bank of the future will be invisible -...
27693 views comments | 102 tweets | 200 linkedin
hands typing furiouslyBlockchain, near real-time projects and co...
12203 views 0 | 34 tweets | 20 linkedin
New EU rules could cost UK firms £122bn in cybersecurity fines - PCI SSCNew EU rules could cost UK firms £122...
10297 views comments | 31 tweets | 35 linkedin
Hackers hit 6000 web stores to steal card dataHackers hit 6000 web stores to steal card...
8302 views 10 comments | 11 tweets | 20 linkedin
Barclays and Citi test blockchain tech for equity swaps processingBarclays and Citi test blockchain tech for...
7927 views comments | 24 tweets | 16 linkedin

Featured job

Senior Level Salary plus Car Allowance + Benefits...

Find your next job