How to Switch Bank Accounts Step by Step
Thinking about moving to a different bank account? Understand how switching works, what to compare before moving, what can happen to your regular payments and what to check after the switch.
Why might you want to switch bank accounts?
People change bank accounts for many different reasons. You may want lower charges, better digital banking, more convenient access to banking services or an account that better fits how you manage your money today.
An account that suited you several years ago may no longer be the best fit. Your income, spending habits, location and need for banking services can change over time.
Before switching, compare the new account with your existing one. An introductory incentive may be attractive, but the everyday features, costs and terms of the account can matter much more over the longer term.
Common reasons to consider switching
- You want different current account features.
- You want improved online or mobile banking.
- You want different branch or cash access.
- Your existing account no longer suits your needs.
- You are interested in an available switching incentive.
- You want to review your current banking costs.
A switching offer can be one part of your decision, but compare the account's ongoing features, costs and conditions before moving.
How to switch a bank account
Switching involves more than opening a new account. You should consider your existing payments, the new provider's terms and the way your everyday banking will move from one account to another.
Decide why you want to switch
Start by identifying what you want to improve. It might be account fees, digital banking, branch access, customer service, payment facilities or another feature.
Compare the new account carefully
Compare the new account with your existing account and focus on the features you actually use rather than only looking at a headline offer.
- Account fees and charges
- Debit card facilities
- Online and mobile banking
- Cash and branch access
- Overdraft arrangements
- Regular payment facilities
Check whether you are eligible
Read the provider's current eligibility requirements before applying. Requirements and account availability can vary between products and providers.
Review your existing account and regular payments
Make a list of the income and payments that normally use your existing account. This helps you understand what needs to be considered during the move.
- Salary or regular income
- Direct Debits
- Standing orders
- Regular transfers
- Subscriptions
- Important manual payments
Apply for the new account
Follow the new provider's application process. Depending on the account, applications may be available online, through a mobile app or in a branch.
Provide accurate information and complete any identity, eligibility or other checks requested.
Use the applicable switching service
Some eligible account moves can use the Current Account Switch Service. Where it applies, participating providers manage the switch according to the service's current rules.
Check the latest eligibility and terms directly with the participating provider before starting.
Check your new account after the move
Once the switch has taken place, review your new account, balance, cards, payment arrangements and recent transactions.
If something does not look right, contact the relevant provider through its official support channels.
What should you check before moving your bank account?
Switching can be useful when another account better matches your needs, but the decision should be based on the complete account rather than one attractive feature.
Read the provider's current account information and terms before applying. Pay particular attention to services you use frequently.
What can switching a bank account change?
The potential benefit depends on the difference between your current account and the new one. Switching is most useful when the new account better matches your everyday needs.
Different account features
A new account may offer services and features that better suit the way you currently manage your money.
Improved digital banking
If mobile or online banking is important to you, another provider may offer a service that fits your preferences better.
Different access options
You may prefer a provider with particular branch, cash access or customer support arrangements.
Potential account incentives
Some providers may offer incentives to eligible customers, subject to their current terms and conditions.
Look beyond the switching incentive.
A cash incentive or introductory benefit can be attractive, but it should not be the only factor in your decision. Your bank account will be part of your everyday financial life, so its ongoing features and terms deserve equal attention.
Questions worth asking
Compare the new account with the one you already use.
- Does it provide the services I use?
- Are there account fees?
- What are the overdraft arrangements?
- Can I access cash when needed?
- Is the mobile banking service suitable?
- Are there conditions attached to an incentive?
Check the ongoing value
Think about how the account will work after an introductory offer.
- Review ongoing account costs.
- Check service availability.
- Understand important account conditions.
- Consider your everyday usage.
- Read the provider's current terms.
- Keep important switching information.
What happens to your old bank account?
What happens to an existing account depends on the switching process and provider involved. If you use an applicable account switching service, eligible payment arrangements can be handled as part of the switching process.
Even when a switching service is used, it is sensible to review your banking arrangements yourself. Keep track of important payments and check your new account after the move.
What should you check once the switch is complete?
Do not assume everything is correct without checking. Once your new account is active, review your banking arrangements and confirm that everyday transactions are working as expected.
This is especially important if the account receives salary or is used for household bills, subscriptions and other regular payments.
Make sure online and mobile banking access is working correctly.
Review your new card and follow the provider's activation instructions.
Check Direct Debits, standing orders and other important transactions.
Make sure salary or other recurring income arrangements are correct.
Check recent transactions and confirm the balance looks as expected.
Retain relevant confirmations and correspondence for your records.
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Questions about switching bank accounts
The exact switching process depends on the account and provider. Always check the current terms and eligibility information before starting a switch.
Compare carefully. Switch when it makes sense.
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