CASS Switching Stats: Q3 2021

Financial Chat
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Apologies if this has already been posted, but here are the Q3 switching stats:

Brand Gains Losses Net Gains
AIB Group (UK) p.l.c. 101 253 -152
Bank Of Ireland 39 540 -501
Bank of Scotland 4,519 1,573 2,946
Barclays 6,457 10,053 -3,596
Co-operative 4,252 3,465 787
Danske 452 262 190
Halifax 25,847 9,163 16,684
HSBC 50,192 66,756 -16,564
Lloyds Bank 13,483 9,608 3,875
Monzo Bank Limited 8,759 3,052 5,707
Nationwide 13,498 9,897 3,601
NatWest 6,645 14,096 -7,451
RBS 1,602 7,790 -6,188
Santander 7,970 19,146 -11,176
Starling Bank Ltd 15,185 1,465 13,720
Tesco Bank 65 1,108 -1,043
Triodos Bank 1,209 81 1,128
TSB 3,278 12,769 -9,491
Ulster Bank 257 397 -140
Virgin Money 12,309 5,394 6,915
Low Volume Participants 531 936 -405

Massive thanks to @Chapuys for fixing my dodgy formatting :hot_coral_heart:

Commentary from Pay UK:

The Current Account Switch Service has completed over 7.6 million switches to date. From 1 July to 30 September 2021, 212,600 switches occurred and 99.7% of these switches were completed within seven working days. This is 29,855 more switches than in Q2, between 1 April and 30 June. In the past 12 months 722,594 switches in total have been processed through the service.

In April to June 2021, Halifax was the participant with the highest net switching gains, followed by Starling Bank and Virgin Money. Monzo Bank and Lloyds Bank were fourth and fifth respectively for net switching gains.

Edit: where are my manners? Source: Current account switching levels rise in Q3 as consumers explore digital options and switching deals

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Did the hsbc switchers just decide to all go to the bank nearest in the alphabet?

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Sorted your formatting out for you :grin:

Original
Brand Gains Losses Net Gains
AIB Group (UK) p.l.c. 101 253 -152
Bank Of Ireland 39 540 -501
Bank of Scotland 4,519 1,573 2,946
Barclays 6,457 10,053 -3,596
Co-operative 4,252 3,465 787
Danske 452 262 190
Halifax 25,847 9,163 16,684
HSBC 50,192 66,756 -16,564
Lloyds Bank 13,483 9,608 3,875
Monzo Bank Limited 8,759 3,052 5,707
Nationwide 13,498 9,897 3,601
NatWest 6,645 14,096 -7,451
RBS 1,602 7,790 -6,188
Santander 7,970 19,146 -11,176
Starling Bank Ltd 15,185 1,465 13,720
Tesco Bank 65 1,108 -1,043
Triodos Bank 1,209 81 1,128
TSB 3,278 12,769 -9,491
Ulster Bank 257 397 -140
Virgin Money 12,309 5,394 6,915
Low Volume Participants 531 936 -405
Code 
| Brand | Gains | Losses | Net Gains |
|---|---|---|---|
| AIB Group (UK) p.l.c. | 101 | 253 | -152 |
| Bank Of Ireland | 39 | 540  | -501 | 
| Bank of Scotland | 4,519 | 1,573 | 2,946 | 
| Barclays | 6,457 | 10,053 | -3,596 |
| Co-operative | 4,252 | 3,465 | 787 |
| Danske | 452 | 262 | 190 |
| Halifax | 25,847 | 9,163 | 16,684 |
| HSBC | 50,192 | 66,756 | -16,564 |
| Lloyds Bank | 13,483 | 9,608 | 3,875 |
| Monzo Bank Limited | 8,759 | 3,052 | 5,707 |
| Nationwide | 13,498 | 9,897 | 3,601 |
| NatWest | 6,645 | 14,096 | -7,451 |
| RBS | 1,602 | 7,790 | -6,188 |
| Santander | 7,970 | 19,146 | -11,176 |
| Starling Bank Ltd | 15,185 | 1,465 | 13,720 |
| Tesco Bank | 65 | 1,108 | -1,043 |
| Triodos Bank | 1,209 | 81 | 1,128 |
| TSB | 3,278 | 12,769 | -9,491 |
| Ulster Bank | 257 | 397 | -140 |
| Virgin Money | 12,309 | 5,394 | 6,915 |
| Low Volume Participants | 531 | 936 | -405 |
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You are the best of us :hot_coral_heart:

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Can’t speak to why people left HBSC, but isn’t the reason so many switched to Halifax because they were the first bank to bring back a switching bonus this year?

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I feel like a lot of these are skewed when there’s so many account switching offers around.

But very good for Starling with no bonus attached.

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I think so

Do virgin have an offer as well?

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Starling is definitely on a roll. I wonder how Monzo’s stats will change now they’ve started to advertise, too. :thinking:

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9

How long have Monzo had the condition that you can open a new account 30 days after closing one but you can’t use CASS to switch that one? Noticed that the other day. Seems a good idea

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This is news to me! What does it mean in practice? You can only CASS out once?

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Yep, i saw it on the closing your account help article

No, I didn’t want to close my account

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Makes sense - I think I remember @simonb or @HughWells mentioning that any CASS in or out costs quite a bit. Around a tenner from memory.

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Having looked up the help page in question, that does appear to be how it reads. I wonder if they had a significant number of people reopening accounts just to CASS to a bank running a switching offer.

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14

This is probably part of the reason why Starling do their patronising “you can’t bank with us for a year you naughty human” thing.

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I want to know why those 65 who moved to Tesco did do, given Tesco are closing their current accounts…

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Bit of a wiki going on over here so we can compare figures over time:

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Three of those CASS are mine :joy:

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Santander switch bonuses are starting to hit Santander accounts today.

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