Uk Current Account Switching Statistics

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Uk current account switching statistics.

This statistic presents the volume of bank account switching using the new current account switch service cass. Current account balance for united kingdom from u k. In 2019 1 2 million uk residents had no current account over a period of 12 months from april 2018 to march 2019 there were 921 065 switches through the current account switch service those under 35 are 3 times more likely to actively think about switching than those aged over 55. In the past 12 months 1 july 2018 to 30 june 2019 there were 941 708 switches.

Latest news and press releases from bacs. Bacs publishes a range of statistics including. Uk interbank payment schemes. The rate of decline has at least slowed.

That is down 2 4 from 965 317 switches in the 12 month period to end june 2018. Current account switch service statistics. Everything you need to know about using the current account switch service to transfer your bank account. Furthermore in 2017 switches totalled 931 956.

The days of over one million current account switches in the uk such as in 2016 seem to be long gone. Office for national statistics ons for the balance of payments release. The latest figures for the current account switch service show that 265 195 switches were successfully completed in the first quarter of 2019 taking the total since the service launched in 2013 to over 5 6 million switches. This page provides forecast and historical data charts statistics news and updates for united kingdom current account balance.

Processing volumes the history of transactions for both direct debit and bacs direct credit and various statistics and research papers about the current account switch service. Cass annual report 2019. Another set of uk 7 day current account switching statistics is released and another fall in annual switching is revealed.