Yes, you can move your current account to a new bank, and the process is designed to be straightforward
You can transfer your current account from one bank to another at any time. Your new bank will handle most of the work through a service called Current Account Switch Service (in the UK) or a similar switching process in other countries. The bank you're moving to will contact your old bank, move your money, and redirect your payments and direct debits — you don't need permission from your current bank to leave.
The switch typically takes 7 working days from start to finish. During this time, both accounts stay open so nothing gets lost. Your old bank cannot charge you for leaving, and they cannot hold your money hostage or delay the process.
Key Takeaways
- Your new bank runs the switch for you using the Current Account Switch Service, so you don't contact your old bank directly.
- The entire process takes 7 working days, and both your old and new accounts remain open during the switch.
- All your direct debits, standing orders, and regular payments move automatically to your new account.
- You should update your address with your new bank and check that all your payments have moved correctly within a few days of the switch completing.
- Your old bank cannot charge you to leave or refuse to process the switch.
How the Current Account Switch Service works
When you decide to move, you go to your new bank and tell them you want to switch. You'll provide your old bank's details and sign a form authorizing the switch. Your new bank then takes over — they contact your old bank, request your account information, and arrange for the money to move.
Your old bank has 2 working days to send your balance and a list of all your payments to your new bank. Your new bank then spends the next few days setting up your direct debits and standing orders on the new account. On day 7, your money arrives and your new account becomes active. You can start using your new debit card and account number when ready.
Throughout this time, your old account stays open. This matters because some payments might still be trying to reach your old account — the switch service redirects these for up to 3 years, so you won't lose money if someone pays the old account by mistake.
What moves and what doesn't
Your balance moves in full. All your direct debits (like rent, utilities, subscriptions) move to the new account. Standing orders (regular payments you set up yourself) move too. Overdraft facilities do not automatically move — your new bank will assess whether to offer you an overdraft based on their own criteria.
Savings accounts, credit cards, and loans stay where they are unless you specifically move them separately. The switch service only moves your current account. If you want to move a savings account, you'll need to do that as a separate transaction, usually by contacting the bank directly or using their online banking.
Cheques and old payment methods tied to your old account stop working once the switch completes. If you still use cheques, ask your new bank for a new cheque book before the switch date.
What you need before you start
Have your old bank's details ready: your account number, sort code, and the name the account is held under. You'll also need to know which direct debits and standing orders are active on your account — your old bank's app or online banking will show you these. Write down the amounts and dates so you can check they've moved correctly.
Make sure your new bank account is already open before you start the switch. You cannot switch into an account that doesn't exist yet. If you're opening a new account, do that first, then start the switch process once the account is active and you have your account number.
After the switch completes
Check your new account within a few days to confirm your balance arrived and all your payments are set up. Log into your new bank's app or online banking and look at your direct debits and standing orders — they should match what you had before. If anything is missing, contact your new bank when ready.
Update your address with your new bank if it's different from your old one. Tell your employer, your benefits office, or anyone else who pays money into your account about your new account number and sort code. You don't have to do this when ready — the redirect service will catch most payments for 3 years — but it's cleaner to update them sooner.
Keep your old account open for at least a few weeks after the switch. Some payments take time to clear, and you want to see them arrive in your new account before you close the old one. Once you're confident everything has moved, you can ask your old bank to close the account.
If something goes wrong during the switch
If a payment doesn't move or arrives late, contact your new bank first. They can see what happened and usually fix it within a day or two. If money goes missing entirely, both banks are responsible for finding it — the switch service has a dispute process that forces both banks to investigate.
If your old bank refuses to process the switch or delays it beyond 7 working days, you can complain to the Financial Conduct Authority (FCA). Banks are legally required to process switches within the timeframe. Complaints are free and the FCA can force the bank to pay compensation if they've broken the rules.
Switching between accounts at the same bank
If you're moving from one account to another within the same bank — for example, from a basic account to a premium account — you usually don't need to use the Current Account Switch Service. Contact your bank directly and ask them to transfer your balance and move your payments. This is faster and simpler because everything stays within one organization.
Ask your bank how long this internal transfer takes. Many banks can do it within 1 or 2 working days. You'll still get a new account number and debit card, but the process is less formal than switching to a different bank.
Frequently Asked Questions
Will switching banks affect my credit score?
No. Switching banks does not appear on your credit file and does not affect your credit score. Your credit history stays with you — it's tied to your name and address, not to your bank account. Your new bank may do a credit check when you open the account, but the switch itself has no impact.
What happens to my old debit card after the switch?
Your old debit card stops working once the switch completes. Your new bank will send you a new card before the switch date, so you'll have it ready to use. Destroy the old card by cutting it up or returning it to your old bank. Do not throw it away whole.
Can I switch if I'm overdrawn?
Yes, you can switch even if your account is overdrawn. Your overdraft balance moves with your account balance, so you'll owe the same amount to your new bank. However, your new bank may not offer you an overdraft facility, so you may need to pay back the overdraft quickly or arrange a personal loan instead.
What if I have a joint account?
Both account holders must agree to the switch. You'll both need to sign the authorization form. The switch works the same way — all the money and all the payments move to the new joint account. Both of you can use the new account and debit card when ready after the switch completes.
Do I have to switch all my accounts at once?
No. You can switch your current account to one bank and keep your savings account, credit card, or loan with your old bank or move them elsewhere separately. The switch service only moves your current account. You control what moves and what stays.