949,000 current accounts switched in one year

Almost one million current accounts have been switched over the past 12 months.

Figures released by BACS revealed the Current Account Switch Service (CASS) was used 949,047 times between 1st April 2016 and 31st March 2017, 248,302 of which came in the first quarter of this year.

This surge was accompanied by a burst of advertising activity, which saw awareness levels of CASS reach a record high of 79% in March.

Earlier this year, challenger bank Starling became the latest company to join the CASS.

Some 47 current account providers are now participating in the service, covering almost 100% of the UK’s current account market.

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