Why switch?

Switching your current account

Have you ever switched your current account? If the answer’s no, you’re not alone.

In fact, we’re twice as likely to move house as switch current account*.

Why switch?

Put simply, you might be able to get a better service elsewhere. Does your current provider offer all the services you want, for example mobile and online banking? Have you been happy with the customer service you’ve received? Is it easy to get in touch with them when you need to?

It’s also worth considering whether your financial needs have changed since you opened your current account. If so, you may now be served better by a different account.

Our research reveals that among those who have made the change, the primary motivations for switching their current account included:

  • the bank’s reputation
  • the interest rate on credit
  • customer service
  • customer rewards
  • convenient branches
  • special offers
  • online banking
  • branch opening hours
  • mobile banking.

Choosing a new account

If you’re thinking about switching your current account, the first step is to choose a new account that’s right for you.

Things you may want to consider:

  • whether the account comes with any additional services
  • any overdraft arrangements
  • whether it pays interest
  • if there are any fees.

For more information on choosing the right bank account for you, check out our guide on choosing a bank account.

*Source: Nationwide Building Society, 2014

Switching to a new Nationwide account

Are you an existing customer but want to move to a different Nationwide current account?

Current account trivia

  • There are more than 65 million active personal current accounts in the UK. In ancient Greece and Rome, temples acted as banks, loaning money out as well as keeping it safe.
  • Current accounts as we know them, now have their roots in 16th century Amsterdam. Cashiers started charging customers for depositing their money and valuables for safekeeping.
  • The first overdraft dates back to 1778, when a merchant, William Hoag was allowed to take £1,000 more out of his account than he had. In today’s money, that’s around £63,664.

Current Account Switch Guarantee

Current Account Switch Guarantee logo

Your switch is backed by the Current Account Switch Guarantee. Your old account will be closed and all your payment arrangements will be switched in 7 working days.

Find out more at www.currentaccountswitch.co.uk

We have a range of current accounts that could suit your everyday banking needs.

7 Day Current Account Switch Service

Keeping your old account open

The switching experience