Switching bank accounts has always been easy, says BBA

Mon, 26 Nov 2007

It has never been particularly complex for consumers to switch bank accounts, an industry spokesperson has claimed.

Brian Capon, spokesperson for the British Bankers' Association (BBA), said that while it is probably easier nowadays to switch bank accounts, it has "never been difficult".

"There's just been a perception that it's difficult rather than anything else," he said.

Timing is crucial when switching accounts, Mr Capon added.

He explained that while Banking Code covers timescales for the process, people should bear their individual situation in mind when switching accounts .

"If you're having your salary paid into your account, then it's best to arrange for the old account to be closed just after your salary comes in," Mr Capon advised, adding that employers may need advance warning of new bank details for payroll purposes.

It is "just a matter of planning", the BBA spokesperson concluded.

Since last year, complaints about moving current accounts between banks have increased by 50 per cent, according to the Financial Ombudsman Service.
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