How a bank switch is done in seven working days, and what moves with it
A full switch through the Current Account Switch Service moves the balance and regular payments on a chosen date within 7 working days, closes the old account and redirects stray payments for at least three years.
Gareth has banked in the same place since his first job. Over the years his account has collected a mortgage payment, a council tax Direct Debit, two insurance policies, a gym membership, a monthly standing order to his daughter and, more recently, his State Pension. What puts him off moving bank is the list of everything that might go wrong on the way. The UK’s Current Account Switch Service exists to deal with exactly that list.
What the service is
The Current Account Switch Service is run by Pay.UK, the organisation behind several of the UK’s main payment systems. It says more than 50 banks and building societies take part. When someone opens an account with a participating bank and asks for a full switch, the new bank organises the move.
The service covers regular sterling current accounts. Its own guidance says it does not cover ISAs, savings accounts or non-sterling accounts. Using it is free, and the switch is arranged directly with the new bank; this website does not handle switches or take any details.
The seven working days and the date you choose
A full switch takes 7 working days. The customer agrees a switch date with the new bank, and the service says it must be at least seven working days after the new account is opened. The switch date cannot fall on a weekend or bank holiday. A switch can be cancelled up to seven working days before the switch date.
The old account can be used normally until the switch date. The service’s guidance warns not to set up new payments on the old account during the seven-day period, because those will not be transferred. Our article on why the State Pension arrives on the day it does explains how those payment days work.
What moves with a full switch
According to the Current Account Switch Service, a full switch moves:
- regular incoming payments, such as wages, pensions or benefits;
- outgoing Direct Debits and standing orders;
- the balance on the old account;
- saved payee details.
Some things do not move automatically. The service says third-party authorisations on the old account are not switched, so they need to be cancelled and set up again with the new account details. Regular payments that a company takes from a debit card are not Direct Debits, so it is sensible to give each such company the new card details. The service says that any refund made to the old debit card after a full switch will be sent on to the new bank.
The redirection period and closing the old account
In a full switch the old bank closes the old account. After that, payments that are still sent to the old account details are redirected to the new account. Pay.UK says this redirection is carried out for a minimum of three years, or longer if needed. Each redirected payment triggers an automatic message to the sender with the new details.
The service’s guidance says that if the old account is kept open, the move falls outside the Current Account Switch Service and its Guarantee.
“Pay.UK says payments sent to the old account details are redirected for a minimum of three years, or longer if needed.”
The Switch Guarantee
A full switch is backed by the Current Account Switch Guarantee. In summary, it says the switch will be free and completed in 7 working days, overseen by the new bank, and that payments sent to the old account will be redirected. If something goes wrong because of the switch, the new bank will correct it and refund any interest or charges that result. The service adds that the new bank decides whether to pay any compensation on top of that refund.
Filled square: the next date. Days are recalculated every day from today’s date; past dates are shown in grey.
A full switch compared with keeping the old account
Some banks offer their own way of moving only some payments while the old account stays open, sometimes called a partial switch. The comparison below shows the main differences in general terms. It is illustrative, and any arrangement outside the service follows the individual bank’s own terms.
| Illustrative comparison, general terms | Full switch through the service | Old account kept open |
|---|---|---|
| Old account | Closed by the old bank | Stays open |
| Direct Debits and standing orders | Moved by the new bank | Depends on the bank’s own process |
| Balance | Moved across | Moved by the customer |
| Payments to old account details | Redirected for at least three years | Not redirected |
| Switch Guarantee | Applies | Does not apply |
Illustrative summary based on the Current Account Switch Service’s published guidance. Individual banks’ partial-switch arrangements vary.
For Gareth, the invented example from the start, a full switch would mean his pension, mortgage payment and standing order all move on one agreed date, with any stray payment to his old details redirected.
Overdrafts, joint accounts and switching offers
Overdrafts. Any overdraft on the new account has to be agreed with the new bank before the switch starts, and is subject to its lending checks. The service says the new bank may offer help to clear an existing overdraft; if no agreement is reached, the overdraft on the old account has to be repaid separately before switching.
Joint accounts. A joint account can be switched if both account holders agree and it moves to another joint account. The service says it is not possible to use it to switch a joint account into a sole account.
Switching offers. Banks sometimes attach incentives to switching. These often come with conditions, such as a minimum amount paid in each month or a minimum number of Direct Debits, and may require the switch to go through the service. Any money that will not be needed day to day may be better considered separately; our guide to easy access, notice and fixed-term savings explains the trade-offs.
- That the new account is a current account with a participating bank or building society.
- Any overdraft needed, agreed with the new bank before the switch begins.
- Whether a joint account is moving to another joint account.
- A switch date at least 7 working days away, avoiding weekends and bank holidays.
- Payments taken from the old debit card, which need the new card details.
- Recent statements from the old bank, kept somewhere safe.
What it comes down to
A full switch through the Current Account Switch Service moves the balance, regular payments in and out, and saved payees on a chosen date, normally within 7 working days. The old account is closed, payments to the old details are redirected for at least three years, and the Switch Guarantee covers charges caused by errors. Keeping the old account open puts the move outside that protection. Because a full switch moves the balance itself, a call asking for money to be sent to a “safe account” is not part of it; anyone who has had such a call may want to read our guide on what happens if a scammer talks you into a bank transfer.
Official sources
- Current Account Switch Service — The switching process (Personal) · 7 working days, what moves, overdrafts, not setting up new payments during the switch
- Current Account Switch Service — Common questions (Personal) · Switch date rules, joint accounts, keeping the old account open, third-party authorisations, card refunds
- Current Account Switch Service — About the service · The Switch Guarantee and eligible accounts
- Pay.UK — Current Account Switch Service · Redirection for a minimum of three years, over 50 participating banks and building societies
This is private, sponsored general information from B.B.R. Finance OÜ on thepowertodomore.com. It is not a communication from the Department for Work and Pensions (DWP), the Pension Service or HM Revenue & Customs (HMRC), and this website is not affiliated with them or with any other government body. It is not personal financial, tax or legal advice. Amounts and examples are illustrations, not a promise of any payment, refund or saving; they were checked on against the official sources listed and can change. This website takes no applications, arranges no products and charges no fees. Never give your National Insurance number, bank details or Government Gateway / GOV.UK One Login credentials to a website because you have read an article. For your own State Pension, tax or benefits, use the official services on GOV.UK.
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