The latest current account switching figures reveal the banks most people are switching to – and those that are losing customers by the bucketload.
The number of customers ditching their existing bank in favour of a rival provider jumped sharply in recent months.
Just over 265,000 people changed their current accounts between July and August, latest quarterly figures from the Current Account Switch Service (CASS) revealed.
That represents a big jump on the 216,000 switches seen in the second quarter – April to June 2025.
While it's interesting to see the latest switching trends overall from CASS, the really useful stats can be found by looking into the specific banks and building societies that gained and lost the most customers.
This gives us a clearer idea of which banks are winning and losing as a result of all this switching activity.
The data is provided by Pay UK, the retail payments authority.
As it takes a while to pull these together, the latest stats available are for the second quarter of 2025, running from April to June.
Here’s what these stats reveal.
The banks we are all switching to
Nationwide was the by far the biggest with an impressive net gain of 54,347 customers between April and June 2025.
Remarkably, this is the fourth straight quarter where Nationwide has comfortably attracted the most customers.
So what's driving its ongoing strong performance?
A big factor is likely the ongoing positive publicity around its Fairer Share promotion, which sees the building society handing out cash bonuses to members as well as exclusive access to specific savings accounts: it handed £100 back to members last Summer and did so again this June and July.
This helps explain the enduring popularity of the building society, but what ramped up its growth even further was the fact it also offered a juicy £200 cash bung to any new customers who switched their main current account.
In the past, factors like customer service or distance to the nearest branch might have been the main factors influencing switchers, but these days it's all about these cash incentives.
You'll regularly see companies soaring up the charts in any quarter when they have juicy bonuses on offer.
As a case in point, Co-operative enjoyed an eight-fold increase in its net customer gains, jumping from sixth to second in the biggest winners' table, after offering a £175 switching offer during the quarter.
Challenger bank Monzo Bank continued its strong performance relative to the banking giants, gaining a total of 8,246 customers during the three-month period.
You can see the full list of banks that managed to grow their net customer base in the table below.
The banks we're all joining
| Bank | Net gain |
| Nationwide | 54,347 |
| Co-operative | 9,175 |
| Monzo | 8,246 |
| HSBC | 8,219 |
| NatWest | 3,858 |
| TSB | 938 |
| Danske | 765 |
| Triodos | 120 |
The worst-performing banks
Santander saw the biggest exodus of customers, as its net current account base plummeted more than 23,000 between April and June.
In second place, Barclays continues to haemorrhage current account customers, although the pace of those losses is at least slowing: it suffered a net loss of more than 18,300 in the latest quarter, 22,000 in the previous three months and 37,000 in the quarter before that.
Halifax was the third-worst performer between April and June, losing more than 14,700 net customers.
You can see a full breakdown of the biggest losers in the table below.
The banks we're ditching
| Bank | Net loss |
| Santander | 23,015 |
| Barclays | 18,337 |
| Halifax | 14,752 |
| Lloyds | 9,406 |
| Chase | 6,976 |
| Virgin | 3,697 |
| RBS | 3,119 |
| Bank of Scotland | 1,820 |
| Starling | 1,237 |
| Ulster Bank | 463 |
| AIB | 363 |
| Bank of Ireland | 283 |
Switching bonus requirements getting stricter
As mentioned earlier, it's clearly switching incentives that play the biggest role in the switching merry-go-round.
There is a sizeable number of savvy Brits who switch habitually to whichever brand has the biggest offer going.
The banks have responded to this trend by making it harder to qualify for these bungs in the hopes of deterring serial switchers looking to simply bag the bonus and run.
You'll regularly see requirements like setting up multiple Direct Debits, transferring money into the account and spending on the card in order to get the joining bonus.
It's worth keeping this in mind if you're thinking of taking advantage of one of these generous bungs.
Speaking of which, you can view our roundup of the best bonuses here.
At present, you can get up to £175 from First Direct, NatWest and Royal Bank of Scotland.
No doubt you'll be seeing all these brands soaring up the switching charts in future months.
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