Current Account Switching Data first half of 2014 (1 Jan to 30 Jun 2014)
| Brand | Accounts gained | Accounts lost | Net movement | |
|---|---|---|---|---|
| 1 | Santander | 139616 | 42378 | 97238 |
| 2 | Halifax | 106430 | 49747 | 56683 |
| 3 | Nationwide B S | 48014 | 21474 | 26540 |
| 4 | Low value recipients | 1423 | 1042 | 381 |
| 5 | Bank of Scotland | 7184 | 7572 | -388 |
| 6 | Danske Bank | 1061 | 1795 | -734 |
| 7 | Bank of Ireland | 606 | 1621 | -1015 |
| 8 | AIB Group (UK) plc | 303 | 1935 | -1632 |
| 9 | Ulster Bank | 387 | 3257 | -2870 |
| 10 | Clydesdale Bank | 2381 | 17090 | -14709 |
| 11 | RBS | 5090 | 23584 | -18494 |
| 12 | Lloyds Bank | 113896 | 135414 | -21518 |
| 13 | HSBC | 35937 | 62499 | -26562 |
| 14 | Co-operative Bank | 8971 | 35926 | -26955 |
| 15 | NatWest | 24156 | 57282 | -33126 |
| 16 | Barclays | 20402 | 58988 | -38586 |
| Data from The Payments Council from Q1 and Q2 2014 - amalgamated by Moneycomms 21.01.2015 | ||||
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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.