Switching business account in United Kingdom

Snapshot

A UK business can move its current account through the Current Account Switch Service, a free service that completes a full switch in seven working days and is backed by the Switch Guarantee. The new provider moves your regular payments and balance and closes the old account. Eligibility is limited to smaller businesses, and both providers must take part. As of 23 January 2026.

Service: Current Account Switch Service, free to use. As of 23 January 2026.
Timeline: Seven working days once a switch date is agreed.
Eligibility: Turnover up to 6.5 million pounds and fewer than 50 employees.
Protection: The Switch Guarantee covers errors during the switch.

Fees and features as of 23 January 2026Last reviewed 23 January 2026

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

As of 23 January 2026, a UK business can switch its current account using the Current Account Switch Service, a free service backed by the Switch Guarantee. Once you agree a switch date, the new provider gathers your direct debits, standing orders, and regular incoming payments from the old account, moves them across, transfers the remaining balance, and closes the old account, with a full switch completing in seven working days. The service is open to smaller businesses, broadly those with turnover up to 6.5 million pounds and fewer than 50 employees, and both the old and the new provider must take part. Some digital providers do not take part, so a move involving them may need to be done manually.

How switching works in United Kingdom

The Current Account Switch Service is run for the industry and is free to the business switching. You apply to the new provider, choose a switch date, and the new provider does the work. It contacts the old bank for a list of your direct debits, standing orders, and regular incoming payments from the last thirteen months, moves those instructions to the new account, transfers any remaining balance on the switch date, and closes the old account. Payments sent to the old account are redirected for a period. As of 23 January 2026, confirm the current detail with the providers.

The seven day timeline and the Switch Guarantee

Once a switch date is agreed, the full switch completes in seven working days. The Switch Guarantee promises that the switch happens on the agreed date, that your payments are moved, and that you are refunded any interest or charges on your old or new account caused by a switch error. Some setup time applies first, for identity checks and opening the new account. As of 23 January 2026, confirm timelines with the providers.

Eligibility and the limits

The service is aimed at individuals and smaller businesses. A business qualifies broadly where annual turnover does not exceed 6.5 million pounds and it employs fewer than 50 people, and small trusts with net assets below 6.5 million pounds also qualify. Eligible account types include sole trader, limited company, limited liability partnership, partnership, and charity accounts. Both the old and the new provider must take part in the service, and some digital providers and electronic money providers do not, so a move involving them may need to be handled manually. As of 23 January 2026, confirm eligibility and participation before you start.

What to check before you switch

Four points to weigh before switching, as of 23 January 2026. Verify with the provider

Whether both the old and the new provider take part in the Current Account Switch Service.
Whether your business meets the turnover and employee limits for the service.
Any breaks in business if you rely on a card or facility during the switch window.
Whether any borrowing, overdraft, or merchant services need to be arranged separately at the new provider.

Compare business accounts available in United Kingdom

These providers accept business customers in the United Kingdom. Fees and eligibility shown as of 23 January 2026. Confirm current terms with the provider before applying.

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Questions about switching business account in United Kingdom

How does the Current Account Switch Service work for a business?

The Current Account Switch Service is a free service that moves your business current account to a new provider. The new provider gathers your payments from the old account, moves your incoming and outgoing payments, transfers the balance, and closes the old account. A full switch takes seven working days and is backed by the Switch Guarantee. As of 23 January 2026, confirm participation with your providers.

How long does a business account switch take in the United Kingdom?

Once you agree a switch date, a full switch under the Current Account Switch Service completes in seven working days. Some setup time applies before the switch date for checks and opening the new account. As of 23 January 2026, confirm timelines with the providers involved.

Is my business eligible to use the switch service?

Small businesses can use the Current Account Switch Service if annual turnover does not exceed 6.5 million pounds and they employ fewer than 50 people, and small trusts with net assets below 6.5 million pounds also qualify. Eligible account types include sole trader, limited company, limited liability partnership, partnership, and charity accounts. Confirm eligibility with the providers, as of 23 January 2026.

Can I switch to or from a neobank in the United Kingdom?

Only providers that take part in the Current Account Switch Service can use the seven day switch. Many banks take part, but some digital providers and electronic money providers do not, so a move to or from them may need to be done manually. Confirm whether both providers take part, as of 23 January 2026.

Fees, features, and eligibility change and vary by region. This page was last reviewed on 23 January 2026. Confirm current terms with the provider before applying.