344,195 people in UK could get free £200 top-up in bank account

A warning has been issued to bank account holders at specific UK banks – amid a huge exodus of customers. The best and worst banks for customers leaving have been revealed by fresh figures released by the handy switching service, Cass, as the Cost of Living crisis continues.

NatWest has gained 99,000 customers, with HSBC second and RBS third, with 25,000 and 16,000 respectively. But Santander has shelled 32,000 customers, with Barclays and Halifax also high, at 21,000 and 22,000. A total of 344,195 switches took place between July to September, according to the Current Account Switch Service (CASS).

John Dentry, product owner at Pay.UK, owner and operator of CASS, said in a statement: “The Current Account Switch Service marked its ten year anniversary this quarter, and in that time the Service has upheld an important role in supporting consumers and businesses change their current account to better suit their needs.”

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Mr Dentry went on, saying today: “It is particularly noteworthy that three new customers, Citibank, Allica Bank, and Rothschild, have joined the Service this quarter, enabling greater choice for consumers and demonstrating the significance of the Service.” At the minute, banking customers and account holders can get £200 for switching to some banks, with hundreds of thousands making a move already this year – and potentially set for a handy windfall before Christmas.

Among the banks paying customers to switch are Lloyds, First Direct, Nationwide and more.

Bank switch gains between July and September

NatWest 99,695

HSBC 25,769