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Account Switching Service



There are two account switching services available. Bacs participants, payment service providers (PSP) and / or other payment account providers operating in the UK can offer one or both services to customers. However, under the following circumstances a paper based account switching process will continue to operate:

  • For organisations that have chosen not to participate in the new Account Switching Services
  • For customers that are not eligible for the full Current Account Switch Service or the Payment Transfer Service.

Full switch service (Current Account Switch Service)

The full switch service, known as the Current Account Switch Service, applies where the customer wants a hassle-free service that automatically transfers all payment arrangements to their new account and closes their existing account.

The full switch service may only be used for the transfer of personal, small business, charity and trust current accounts and it comes with a Guarantee. It guarantees that all payments associated with the customer’s old account will be switched to the new account and ready for use with effect from a pre-agreed switch date. Any payments that continue to be made to, or collected from the old account will be automatically redirected to the customer’s new account. Redirection will be indefinite for those customers who continue to require it. 

The Current Account Switch Service is designed to deliver a:

  • Standardised switching service across all participats of the service
  • Reliable and hassle-free switch for the customer
  • Guarantee that promotes confidence and credibility in the service. 

The Current Account Switch Service Guarantee

The Current Account Switch Service Guarantee is an industrywide Guarantee that supports the Current Account Switch Service. All customers using the service are protected by the Gua​rantee.

For customers considering using the Current Account Switch Service visit

Payment Transfer Service

The Payment Transfer Service​ provides selected features of the Current Account Switch Service, but does not involve the customer closing their existing account or automatically transferring all of their payment arrangements. The service is not limited in terms of time and is not covered by the Current Account Switch Service Guarantee. It also enables a switch between account product types other than current accounts (where possible and when both service providers agree).

The table below shows the functions available:

Service functionalityFull switch service (Current Account Switch service)Payment Transfer Service
The switch date can be selected in advance and agreed with the new participantYesNo
All payment arrangements are transferred automaticallyYes, all payment arrangements will be transferred Yes, it is possible to transfer all payment arrangements, but customers can also choose which payment arrangements they want transferred
Transactions will be redirected to ensure all payments attempting to be collected from or being made to an old account will redirect to the new accountFor 3 years after the Switch Date, or longer in accordance with clause 1.14 of the Customer AgreementNo
Closing balance transfers automaticallyYesNo
Old account will close automaticallyYesNo
Customers are protected by a service GuaranteeYesNo
The switch will occur in 7 working daysYesNo, not guaranteed


​If you are a financial institution and would like to become a participant in either the Current Account Switch Service or the Payment Transfer Service and require further details, please submit your interest via our enquiry form​.​

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