73% surge in current account switching numbers in first three months of 2023

Some 341,075 switches took place between January and March 2023, figures from the Current Account Switch Service show.

The latest figures from Cass show 341,075 switches took place between January and March 2023 (PA) (PA Wire)

Current account switching levels surged by more than 70% in the first three months of this year, compared with a year earlier, according to a service that makes it easier for banks’ customers to ditch and switch.

The Current Account Switch Service (Cass), which has been running for nearly a decade, said it has facilitated 9.1 million switches in total, since launch.

Its latest figures show 341,075 switches took place between January and March 2023, marking a 73% jump on the same period a year earlier.