Before You Switch Bank Accounts: What the CASS Guarantee Does Not Cover

What the Current Account Switch Service does

The Current Account Switch Service is a free service that moves your current account from one participating bank to another within seven working days. It automatically transfers direct debits, standing orders and incoming payments to the new account and redirects any payments made to your old account to the new one for three years. The CASS guarantee means that if anything goes wrong with the switch, the banks involved must reimburse any fees or charges incurred as a result.

The risks most people do not check

CASS does not move everything. CASS moves payment instructions only. Savings accounts, cash ISAs, investments, loans, overdraft facilities and credit cards linked to your bank are not switched. These must be moved separately. If you have an authorised overdraft with your current bank, you need to arrange an equivalent facility with the new bank before switching.

Not all accounts are CASS-eligible. Basic bank accounts, some business accounts and some specialist accounts do not participate in CASS. Switching these accounts requires manual setup at the new bank and closure of the old account separately.

The redirect period is not permanent. The three-year redirect for payments to the old account means senders should update their records during this period. After three years, payments sent to the old account may not reach you. Review all regular payment senders during the redirect window.

Switching bonuses have conditions. Cash switching incentives offered by banks typically have conditions including minimum monthly deposits, minimum direct debit numbers and sometimes minimum spending requirements. Read the conditions before switching primarily for the bonus.

What to verify before switching

Check whether your current account is CASS-eligible and whether the new account will meet your needs. Arrange any overdraft facility with the new bank before initiating the switch. List all regular payments linked to your account that fall outside CASS coverage and contact those organisations separately.

Where to complain

If the CASS guarantee is not honoured or a switch causes financial loss, the Financial Ombudsman Service handles banking complaints.

Frequently asked questions

How long does a CASS switch take?

CASS switches complete within seven working days of the agreed switch date. You choose the switch date at least seven working days in the future when initiating the switch at your new bank.

What happens to direct debits during the switch?

CASS automatically transfers all direct debits to the new account. Organisations taking direct debits are notified automatically. You should check that direct debits have transferred correctly on the first payment date after the switch.

Can I switch if I have an overdraft?

You can switch even with an overdraft at your current bank. However, CASS does not transfer the overdraft facility. You will need to arrange an overdraft with the new bank separately before switching if you rely on it.

What is the CASS guarantee?

The CASS guarantee means that if a switching error results in a charge, lost payment or other financial loss, the banks involved must refund the amount and compensate you for any related charges. The guarantee applies for seven working days after the switch date for errors directly related to the switch.

Are there accounts that cannot be switched using CASS?

Accounts excluded from CASS include most basic bank accounts, some business accounts, foreign currency accounts and accounts held with non-participating banks. If your account is not CASS-eligible, you will need to set up the new account manually and close the old one separately.