Majority of UK consumers express preference for a unified identify across all banking institutions, according to a recent survey.
The UK's bank account switching landscape is set for a shakeup, as the Payments Council (now under Pay.UK) prepares to launch its new Current Account Switch Service (CASS) later this year. This service, aimed at reducing the time required to switch a current account from 18 days to just seven, is expected to make the process faster, free, and more reliable.
Currently, CASS remains the official and primary service for UK bank account switching, supporting smooth and secure transitions between banks and fostering competition through enhanced consumer choice and switching incentives. According to Mark Bowerman, communications manager at the Payments Council, the service has been widely used and effective, with around 7 million switches completed since its launch in 2013[2][3].
The new service comes with a guarantee, redirecting any stray payments for up to 13 months, and covering "virtually 100%" of the market[4]. This means that the vast majority of UK consumers will be able to take advantage of the quicker switching process. Banks have had to make internal changes regarding payment schemes, BACS, CHAPS, and clearing credit card information to accommodate the new service.
The improved bank account switching experience has helped increase consumer confidence in switching accounts. A survey conducted by BT and YouGov in December 2012 found that 62% of 2060 UK consumers agreed that a portable identity number to make switching banks easier would be useful[5].
However, general inertia and the perceived hassle factor are identified as barriers to account switching. A third of the respondents in a recent survey were in favor of shared IT infrastructure, while 28% did not have a view[6]. On the other hand, 38% of respondents had concerns about banks sharing IT infrastructure[6]. Tom Regent, president of global banking and financial markets at BT global services, noted a significant level of apprehension around the creation of a shared banking infrastructure[7].
Despite these concerns, Regent also stated that there is an appetite for technology and services that increase transparency and competition[7]. He believes that the new service will lead to a more competitive current account marketplace. The fear of salary not being received or direct debits being missed is another obstacle to account switching, according to Bowerman[8]. However, the new service aims to address these concerns by making the switching process more efficient and secure.
Popular banks continue to promote switching incentives tied to CASS, such as Santander’s recently ended £180 cash bonus offer in summer 2025, which required switching and account closure using CASS within 60 days[1]. Other offers remain available, demonstrating the switching service is actively used as a marketing and customer acquisition tool[4].
In conclusion, the Payments Council's new initiative aims to revolutionise the bank account switching experience in the UK, making it faster, more secure, and more attractive for consumers. While there are concerns around shared IT infrastructure, the benefits of increased transparency, competition, and consumer choice are expected to outweigh these concerns. Whether the new service will result in a dramatic increase in account switching remains to be seen.
Finance and business are areas that will likely be impacted by the introduction of the new Current Account Switch Service (CASS) in the UK, as it is designed to make the process of switching banks faster, free, and more reliable. With the new service, the vast majority of UK consumers will have access to a quicker bank account switching experience, which may encourage more businesses to consider switching accounts to benefit from improved efficiency and security.
