From MoneyWeek · · 1m 10s
Brits Switch Banks: Nationwide, Barclays, NatWest Lead
Over a million Brits switched banks in 2026, with Nationwide, Barclays and NatWest as top choices.
In brief
Over a million Brits switched banks in 2026, with Nationwide, Barclays and NatWest as top choices. Nationwide, Barclays and NatWest saw the highest net switching gains in Q2 2026, while Halifax and TSB faced significant losses. Originally reported by MoneyWeek.
Bank Switches Surge in 2026
Over a million Brits switched banks in 2026, with more than 13 million switches since CASS launched in 2013.
Top Banks by Net Gains
Nationwide led with 23,636 net switching gains, followed by Barclays at 21,169 and NatWest at 20,287 in Q2 2026.
Cash Bonuses Drive Switches
Three top banks offered cash bonuses, including Nationwide's £100 Fairer Share bonus for three consecutive years.
Least Popular Banks
Halifax saw the biggest losses with -20,728 net switches, followed by TSB at -17,008 and Santander at -14,124.
Bank Switching Reasons
Access to online banking was the top reason for switching, cited by 43% of respondents, followed by better customer service.
Switching Process
CASS ensures switches take seven days, automatically transferring direct debits and standing orders to the new account.
Long-Term Considerations
Customers should weigh long-term value, including customer service, fees, and access to physical branches before switching.
What to remember
Nationwide, Barclays and NatWest saw the highest net switching gains in Q2 2026, while Halifax and TSB faced significant losses.
