The BBA is now integrated into UK Finance. Please go to www.ukfinance.org.uk for new content and updates from UK Finance.
Material published by BBA prior to 1st July 2017 is still available on this website.
From 1 July 2017, the finance and banking industry operating in the UK will be represented by a new trade association, UK Finance. It will represent around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation will take on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.x
Want to switch?
First, ask yourself why you want to move. If you are considering moving your account because you are unhappy with some aspect of the service, have you taken this up with your bank? It might be something that can easily be resolved. All banks have a complaints system and will provide details on request.
Also, think about what you are looking for from the bank. Different accounts will be suitable for different purposes. For instance, do you want somewhere to save your money for a rainy day, or for some large purchase? Perhaps you simply need somewhere to receive your salary paid into and to settle bills?
If interest rates on savings or on personal borrowing are an important consideration for you, then make sure you take these into account. However, don’t overlook other services that might be important. It is worth considering whether you will need to visit a bank branch regularly and if so whether you will be able to use public transport or park nearby.
I’ve decided I want to switch. What do I do now?
On the 16th September 2013, the Payments Council launched the new Current Account Switch Service (CASS). This allows you to change your bank account on an agreed date, taking your direct debits and regular payments with you.
You can learn all about this switching services on the Simpler World website.
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