To switch your current account, you will need:
- details for your new current account, e.g. your International Bank Account Number (IBAN)
- your new debit card details
- a list of all incoming and outgoing payments
Read more on how to prepare to switch your current account
Managing your money during the switching process
Managing your money during the transfer process can be difficult as there may be delays setting up new direct debits or receiving payments in your new account. To avoid missing payments make a note of when money is due to arrive and leave your account. Try to check in advance if the company has your new details set-up.
It is a good idea to keep some money in both accounts during the transfer period in case an unexpected payment is taken from your account. If you have savings. you could move some money to your current account for this. Remember to transfer the money back to your savings after you have completed the switch.
If you use online banking it is a good idea to set it up early in the process. You should also add your old bank account as a payee. This means that you can easily transfer money back to your old account if there are delays transferring some of your direct debits, standing orders or recurring payments. If you had payee details saved in your old online banking, e.g. friends and family, you may want to save their account details in your new online banking.
How to Switch
See below how to switch your current account.
Move your incoming payments
Move your direct debits
Move your standing orders
Move your recurring payments
Monitor your account
Close your old account
Last updated on 19 July 2022