Banks and building societies will next month launch a new current account switching service for consumers and small businesses, which will allow them to switch their accounts more easily, the Payments Council has said.
The 33 institutions signed up to the service, which account for virtually the whole of the current account marketplace, will offer the new service to consumers, small charities and small businesses from 16 September. The service is designed to make switching current accounts from one provider to another simpler, reliable and hassle-free and will be backed by a guarantee displayed in providers' branches, online and supporting literature, the Council said. Payments Council chief executive Adrian Kamellard said: "After two years of work and commitment by the Payments Council and financia...
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