Business Account Switching

Start Your Quote
Business Account Switching

Start Your Quote Contact Us
Business account switching explained

Switching your business bank account — what to know

Many UK SMEs stay with the same business bank for years and quietly overpay on fees, miss out on better interest, or put up with slow service. Switching is far easier than most owners expect — and it can free up cash you can reinvest in the business.

Why businesses switch

  • Lower fees: escape monthly account charges, transaction fees and cash-handling costs that add up over a year.
  • Better tools: modern banking apps, accounting integrations (Xero, QuickBooks) and faster payments.
  • Switching incentives: many providers offer cashback or fee-free periods to win your business.
  • Growth support: access to overdrafts, lending and a relationship manager that fits where your business is heading.

How switching works

Most business current accounts are covered by the Current Account Switch Service (CASS), which moves your payments, direct debits and standing orders and redirects incoming payments automatically — typically within 7 working days. Smaller businesses (broadly, those with fewer than 10 employees and modest turnover) are eligible. We help you compare providers, weigh up the incentives against the ongoing costs, and switch with minimal disruption.

FAQ

Business account switching — FAQ

How long does it take to switch a business bank account?

Where the Current Account Switch Service applies, the switch usually completes within 7 working days, with payments and direct debits moved across and incoming payments redirected automatically.

Will switching affect my payments and direct debits?

No — CASS transfers your standing orders and direct debits and redirects payments to the new account, so suppliers, customers and HMRC keep working as normal.

Can I switch if my business has a loan or overdraft?

Existing borrowing doesn’t have to block a switch, but facilities like overdrafts don’t move automatically. We can look at your commercial finance alongside the account so nothing is left exposed.

Is there a cost to switch?

Switching itself is typically free, and many providers add cashback or fee-free periods. The saving comes from lower ongoing fees and better terms.

Commercial finance → Business credit cards → Unsecured business loans → All business services →

We compare the essential business products required to keep your business running efficiently.

Business Finance

Business Mobile

Copyright © 2026 The Business Hub All Rights Reserved | Created by The Business Hub Group Limited