Current account switching – winners and losers – first 6 months of 2014

Current Account Switching Data first half of 2014 (1 Jan to 30 Jun 2014)

 BrandAccounts gainedAccounts lostNet movement
Data from The Payments Council from Q1 and Q2 2014 - amalgamated by Moneycomms 21.01.2015
1Santander1396164237897238
2Halifax1064304974756683
3Nationwide B S480142147426540
4Low value recipients14231042381
5Bank of Scotland71847572-388
6Danske Bank10611795-734
7Bank of Ireland6061621-1015
8AIB Group (UK) plc3031935-1632
9Ulster Bank3873257-2870
10Clydesdale Bank238117090-14709
11RBS509023584-18494
12Lloyds Bank113896135414-21518
13HSBC3593762499-26562
14Co-operative Bank897135926-26955
15NatWest2415657282-33126
16Barclays 2040258988-38586

2 Comments on Current account switching – winners and losers – first 6 months of 2014

  1. Are you able to tell me where to go in order to get a comparison of how Banks compare in relation to paying in a regular income and getting best rates?

    Thank you
    Sue

    • Hi Sue
      Thank you for your email.
      If you’re looking to earn interest on the credit balance in your current account, these are the options – including monthly credit required.

      •TSB pays 5% on the first £2,000 of your balance – you have to pay in a minimum of £500 per month
      •Santander pays 1% from £1,000 to £2,000, 2% from £2,000 to £3,000 and 3% from £3000 to £20,000 – you have to pay in £500 per month minimum and have at least 2 direct debits
      •Tesco Bank pays 3% on the first £3,000 of your balance – you have to pay in a minimum of £750 per month
      •Nationwide Building Society – Flex Direct – pays 5% on the first £2,500 of your balance for the first year (then it drops to 1%) – you have to pay in at least £1000 per month
      •Lloyds Bank – Club Lloyds – pays 1% up to £1,999, 2% from £2,00 to £3,999 and 4% from £4,000 to £5,000 – you have to pay in at least £1500 per month.

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