Things you need to know
Current Account Switch Guarantee
We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and hassle-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.
- The service is free to use and you can choose and agree your switch date with us
- We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary)
- If you have money in your old account, we will transfer it to your new account on your switch date
- For 36 months, we will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details
- If there are any issues in making the switch, we will contact you before your switch date
- If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges incurred on either your old or new current accounts as a result of this failure.
You can choose your switch date
Once your new account is open you can choose any date to be your switch date, as long as it is in at least seven working days’ time i.e. seven working days’ time is the earliest you can switch.
What will happen on my switch date?
- Your payments (such as Direct Debits, standing orders) will have all been transferred to your new account
- Any credit balance from your old account will have been transferred to your new account
- Your old account will be closed.