It used to be that transferring a current account from one bank to another could take up to 30 days. Under new rules that recently
came into force, however it will take only seven working days and the new bank will do all the legwork – from notifying the old
bank to transferring existing standing orders and direct debits.
After the changeover, any payments to or from the old account will be automatically forwarded to the new account for 13 months. Above all, the new rules are designed to make customers feel
more comfortable about switching.