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
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
Data from The Payments Council from Q1 and Q2 2014 - amalgamated by Moneycomms 21.01.2015

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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