Switching Banks for Better Interest Rates

With interest rates varying significantly between UK banks, switching your current account or savings could earn you hundreds of pounds more each year. The Current Account Switch Service makes changing banks easier than ever, while new savings accounts offer competitive rates for your money. This guide explains when and how to switch banks for better interest rates and improved banking services.

When to Consider Switching

Signs It’s Time to Switch

Consider switching if you’re experiencing:

• Low or no interest on savings
• High fees and charges
• Poor customer service
• Limited online banking features
• Inconvenient branch locations
• Better offers available elsewhere

Current Account Switch Service

The UK’s free switching service:

• Guaranteed 7-day switch
• Automatic transfer of direct debits
• Redirection of payments
• Protection if things go wrong
• Free service