How do I switch bank account?

Automated switching is genuinely reliable for direct debits and standing orders. The gap is recurring card payments — subscriptions taken from your card number rather than your account — which no switching service can see or transfer.

What you'll need

• Identification
• Details of the old account
• A list of card-based subscriptions (optional)

Step by step

1. List everything paid from the account before you start.Go through twelve months of statements. Separate direct debits and standing orders from card payments — the two are handled completely differently.
2. Check any conditions on the new account.Switching bonuses and interest rates usually require a minimum monthly deposit or a number of direct debits. Confirm you can meet them.
3. Apply for the new account and choose a switch date.Avoid dates near payday or when several direct debits fall, so there is slack if anything is delayed.
4. Let the switching service move direct debits and standing orders.It handles the transfer and redirects incoming payments to the new account for a period. This part is dependable.
5. Update card-based recurring payments yourself.Streaming, gyms, app stores, anything with your card number stored. These will keep failing at the old account and nothing automatic will fix them.
6. Tell your employer and anyone who pays you.Redirection is temporary. Update the details at source rather than relying on it indefinitely.
7. Keep some money in the old account for a couple of months.It absorbs anything that was missed without causing a failed payment or a charge.
8. Check both accounts monthly for three months.Anything still hitting the old account needs updating at source. After three quiet months you can close it.

Tips

• Do not close the old account immediately. Leaving it open for a few months costs nothing and catches everything the switch missed.
• Switching bonuses are real money but check the conditions and how long you must keep the account open to keep it.
• If you have an overdraft, confirm the new account offers an equivalent facility before switching, not after.

Common mistakes

• Assuming card subscriptions transfer — They are tied to the card number, not the account. Switching services cannot see them and they will simply start failing.
• Closing the old account straight away — Anything missed then bounces, which can mean late fees and, for some payments, a mark on your credit file.
• Switching in the week before payday — Any delay lands exactly when direct debits are due and the balance is lowest.

Questions people ask