Bank customers ditch their current accounts in record numbers as switches jump 55% to the highest level since 2023

Some 411,384 current account switches were completed between July and September 2026, a 55% year-on-year surge, with the total number of switches in 2026 passing one million for the first time. Nationwide was the biggest winner, gaining 23,636 customers net, ahead of Barclays, NatWest and Monzo.

The primary reason customers switched was the quality of mobile or online banking apps, cited by 43% of switchers.

Nationwide's Fred Powell credited the society's branch-keeping pledge and dementia clinics for drawing customers away from rivals.