PARLIAMENTARY WRITTEN QUESTION
Bank Services (24 May 2022)

To ask the Chancellor of the Exchequer, pursuant to the Answer of 24 May 2022 to Question 4565, on Bank Services, which banks are participants in the Current Account Switch Guarantee; and which challenger banks are excluded.

Asked by:
Dame Harriett Baldwin (Conservative)

Over 40 UK current account providers are signed-up to the Current Account Switch Service, which covers 99% of the market. The list of participants is set out in full on the Service’s website. The Switch Guarantee is provided by all the Service’s participants. In Q1 2022, 99.8% of switches were completed in the seven working day timescale. Any organisation which meets the eligibility criteria can join the service.

Answered by:
John Glen (Conservative)
31 May 2022