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Over 900,000 current accounts switched in one year

Alex Lynn | 14:42 Wednesday 17th May 2017

During the past 12 months 949,047 current accounts were switched in the UK.

New figures from BACS found that the Current Account Switch Service (CASS) was used almost one million times between 1st April 2016 and 31st March 2017.

Some 248,302 came during the first quarter of 2017 alone.

The increase came after a burst of advertising activity which saw awareness levels of CASS reach a record high of 79% in March.

In total, 47 current account providers are currently participating in CASS with challenger bank Starling having joined at the end of March.

CASS covers almost 100% of the UK's current account market.

 

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