Hey everyone, a quick update about the Current Account Switch Service (CASS).
After offering CASS for just over 6 months, we’ve decided to stop offering partial switches for now, and only offer the Full Switch
(A partial switch lets people move some of their Direct Debits and Standing Orders, without moving any money, or closing their old bank account)
We found that many partial switches resulted in quite a few issues for customers, with Direct Debits and other scheduled payments getting duplicated, cancelled, and in general creating more work for people than if they were to manually move their payments themselves. Most of these issues were out of our control, and aren’t something we have the ability to improve ourselves.
Full switches have proven to be much more reliable, as they are more consistently implemented across UK banks, and are protected by the CASS guarantee.
For the last few weeks we ran an experiment to see if there were any negative effects in us only offering full switches. Overall we saw a reduction in CASS-related issues raised via support, and a small increase in full switches. So for now we’re going to disable partial switches for everyone.
We’ll revisit this in the future, but for now we want to make sure those switching to Monzo have a predictable and reliable experience.
UPDATE: To clarify, it’s still possible to do a partial switch away from Monzo to another bank, just not form other banks into Monzo.