It’s one month since you’ve been able to switch banks in seven days
How easy is it to switch banks and what’s on offer?
The new rules on bank switching which came into effect on September 16th mean you can switch bank accounts in seven working days. Switching bank accounts may be a good idea if your account is in credit, you regularly go overdrawn or you’re unhappy with your current bank.
Seven day bank account switching starts today: your guide to getting the most from it
You'll be able to switch your current account in seven working days from today. Here's what you need to know
Seven day bank account switching is an important - and welcome - move for two reasons. Firstly, because it will mean it's quicker to switch your current account to a different bank or building society and secondly (and I think this is the more important part) because there will be guarantees put in place to stop things from going wrong. Crucially, it will mean that the bank you move to must sort out problems with Direct Debits etc, if they arise.
Switching your bank account: what to look for if you're switching banks.
Many people don’t think of switching their bank account; but what does it involve if you decide to switch?
According to Consumer Focus 75% of people have never thought of switching banks and many are put off because they feel there’s little difference between them. But if your account is in credit and your bank isn’t paying you interest, or you’re overdrawn and being charged a hefty interest rate, you could be with the wrong bank. Or you may want to move because the service isn’t up to scratch. Whatever your reasons, what should you look for and how long should it take?