Current account holders aged 25 to 40 and people living in Northern Ireland are particularly likely to ditch and switch their bank or building society, analysis suggests.
Figures from the Current Account Switch Service (Cass) covering the second quarter of this year showed people in this age group made up two fifths (40%) of switches that took place, despite making up only around one fifth of the population.
People aged 41 to 64 switched in roughly direct proportion to their representation in the population, Cass said.
Young adults were marginally more likely to switch than those above 40, with 18 to 24-year-olds making up more switches than their representation in the population, Cass said.
Children’s accounts were less likely to be switched, compared with the size of the child population.
The data also showed Northern Ireland topped Cass’s UK rankings in terms of current account switches using its service in the second quarter of this year.
Between April and June 2025, Northern Ireland accounted for 5,667 switches, followed by Birmingham with 5,558, and Sheffield with 4,626.
This was followed by Newcastle-upon-Tyne (4,257 switches), Manchester (4,242), Nottingham (3,933), Bristol (3,787), Glasgow (3,646), east London (3,587) and south-east London (3,482).
When London’s postcodes were combined it accounted for 15,468 switches.
But Cass also highlighted the large population of London compared with other parts of the UK.
Customers using Cass to switch their account have payments automatically moved to the new account and a guarantee means they should not be left out of pocket if anything goes wrong with the switch. Cass’s figures do not capture people switching outside of its service.
John Dentry, product owner at Pay.UK, owner and operator of Cass, said: “As consumers face falling interest rates, branch closures and an increasing marketplace of different and diverse offerings from banks, these local stats shine a light on where these market changes are having the biggest impact.
“With high inflation and changing rates on savings, there is no time like the present to reconsider your banking options and ensure your cash is in the right place.
“Beyond financial benefits, the range of different tools, products and services that banks and building societies provide is always evolving, so make sure you’re constantly reassessing and partner with a bank that best suits your needs.”
