Switching business bank accounts sounds like a hassle. But for most businesses, it's simpler than expected, and often worth doing if your current account doesn't work for you anymore.

This guide explains when switching makes sense, what happens during the process and what to expect along the way.

When switching is worth considering

Your business doesn't stand still, and your bank account shouldn't hold you back.

You might think about switching if:

• Fees have increased and no longer feel fair
• You need clearer tools or better day-to-day visibility
• Support has become slow or difficult to reach
• Your business has grown and your account hasn't kept up

None of this means you chose badly. It just means your needs have changed.

What happens when you switch

Most UK banks use the Current Account Switch Service. It handles the move for you and keeps disruption to a minimum.

The service usually:

• Moves the balance from your old account to the new one
• Transfers regular payments like Direct Debits and standing orders
• Redirects incoming payments from your old account
• Closes the old account once the switch is complete

The process normally takes seven working days. You can keep using your old account as usual during that time.

What to do before you start

Doing a little bit to get ready helps the process to run smoothly.

So before switching, it's worth:

• Checking what payments come in and go out
• Listing any customers or suppliers you may want to notify
• Downloading statements or records you want to keep
• Opening your new account before starting the switch

If you use an overdraft or other credit, check how this will be handled as it may not move automatically.

Things to be aware of

Switching is usually straightforward, but there are a few details to check.

Some business accounts are not covered by the switching service, especially newer or specialist accounts. It is always worth confirming this first.

If you receive international payments, you may need to update your details manually. You should also update invoices or payment links once your new account is live.

After the switch

Once the switch is complete, keep an eye on your new account for the first few weeks.

Check that:

• Regular payments have moved across correctly
• Customers are paying into the right account
• Charges look as expected

It should all go smoothly, but if anything doesn't look right, contact your new bank straight away.