The least popular banks are Nationwide, Monzo, and HSBC, which thousands of British people are switching to

We examine the banks and building societies that are most and least popular with British citizens as current account bank switches hit a record high

Is it worthwhile to switch?

In Britain, it appears that banking loyalty is a thing of the past, but why are consumers moving their funds?

Whether it's a large cash bonus, branch access, higher interest rates, or spending benefits, there are many considerations when considering a bank switch.

The most recent Current Account Switch Service (CASS) data shows that since the service's inception in 2013, over 11 million switches have been made.

Almost a million switches have been made in the past 12 months. With a record high of 88,146 switches, June 2025 was the busiest month of the year.

We examine which banks customers most frequently moved their accounts to, why they did so, and if switching banks is a good idea.

Which banks are most well-liked in 2025?

According to CASS data, Nationwide was the most frequently chosen bank by consumers to switch to between January and March 2025. The largest net switching gains (55,578) were accumulated by the building society.

It was followed by HSBC, which includes the online bank First Direct, in third place (5,621) and online bank Monzo in second (8,850).

In the table below, we have ranked the leading banks and building societies according to net gains.

Of those surveyed, 47 percent stated that having access to online banking was the primary factor in their decision to open a new account. Next in line were account fees or charges (24 percent), spending benefits (24 percent), improved customer service (31 percent), and alluring interest rates (37 percent).

This is in response to the fact that many high street banks still give their clients low interest rates, which causes significant losses for savers who are advised to move to an inflation-beating savings account.

Do you need to change your bank account?

Nowadays, switching is simpler than ever. 90 percent of consumers reported being satisfied with the switching process during the previous three years, according to data from the Current Account Switching Service.

It takes seven days for the switch to be finished if you use CASS. Even if you switch accounts, it ensures that any new payments, standing orders, and direct debits are automatically transferred to your old account.

Moving your funds to a different account, however, isn't always the best course of action. It's best to think about the long-term benefits of a current account, such as whether you're receiving better customer service, how much you'll pay in fees or charges, and whether you have access to physical branches.

Better savings rates, travel benefits, or spending benefits may already be available from your bank, depending on the kind of account you have. Therefore, switching just for the financial incentive might not be worthwhile in the long run.

In an independent post, we examine whether changing banks can impact your credit score.