Nearly one million (965,317) switches have been completed in the last year through the Current Account Switch Service (CASS).
The figure for 1st July 2017 to 30th June 2018 was up 6% on the previous 12 months.
The service – which was launched in 2013 – has now facilitated nearly five million (4,951,947) successful switches to date.
Almost half a million (499,801) switches were completed in H1 2018, a 7% increase on H1 2017.
The majority of switches were for personal accounts (96.8%) in H1 2018, compared with only 3.2% for small business and charity accounts.
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