How to switch your business current account without any hassle

Many small business owners don't think about switching their bank account until something prompts it – a rise in fees, poor customer service or a sense that the account just isn't keeping up with the business's day-to-day needs.

Whatever the reason, switching your business current account is entirely possible – and, in many cases, much more straightforward than you might expect.

This blog takes you through the key steps to switching a business bank account, and offers a few tips to help things go smoothly.

Why your business might switch current accounts

There are plenty of reasons why a business might consider changing its current account, including the following:

• You're paying more in fees than you'd like.

• The online tools or mobile app don't support the way you work.

• Customer service is slow or difficult to access.

• You've outgrown the account you originally opened.

The key thing is that your business bank account should work for you. If it doesn't, think about switching.

What to check before switching

Before you make any decisions, take stock of your current banking set-up. What works well? What could be better?

Make a list of what your ideal account would offer. That might include:

• a user-friendly app or online banking platform

• integration with your accounting software

• support for several cards or team members

• real-time notifications or payment tracking

• responsive customer service

Once you have a clear idea of what you need, take time to compare different business bank accounts. Some are better suited to sole traders, while others work well for limited companies or growing teams.

It's also worth checking the eligibility criteria – not all providers accept every type of business or sector.

If you're not sure, speak to your accountant or financial adviser, who can help you assess what's most suitable for your situation.

How the switching process works

Once you've opened a new business account, you must decide how to move everything across.

Some business owners prefer to do it manually, especially if their set-up is simple or they want full control over the process.

But many UK banks and building societies take part in the Current Account Switch Service (CASS), which is designed to make switching simpler for eligible accounts.

If both your old and new providers are part of the scheme, and your account qualifies, CASS can:

• move all your payments, direct debits and standing orders

• redirect incoming payments to your new account

• complete the switch in seven working days

• provide a guarantee in case anything goes wrong

CASS can't switch all types of business accounts, so check with your new bank to see if the service is available.

Tips to make the switch smoother

A little preparation goes a long way when changing business bank accounts. Here are a few practical steps to help things go off without a hitch:

• Download your records: Save statements and transaction history from your old account.

• Check all payments: Make sure regular payments are set up correctly in your new account.

• Notify the right people: Let suppliers, clients or payroll providers know about the change (if you need to).

• Leave a buffer: Keep some funds in your old account during the transition, just in case.

Even if you use a switching service, it's good practice to monitor things yourself during the first few days.

After the switch: what to keep an eye on

Once the new account is up and running, give it some attention in the first couple of weeks. Make sure payments are arriving and leaving as expected, and that nothing has been missed.

It's also worth exploring the features of your new account fully – from budgeting tools to alerts to integrations. Many providers offer onboarding help or tutorials, so don't hesitate to use them if you're not sure where to start.

Staying proactive in the early days helps you settle in faster and feel confident you've made the right move.

Final thoughts

Switching your business bank account is a decision that should suit your business's needs – not just now, but as you continue to grow.

It might not be something you do often, but if your current account no longer works for how you run things, it's worth exploring what else is out there. Whether you switch manually or through a service like CASS, the process doesn't have to be complicated.

Just take your time, do your homework and think about what kind of banking support your business really needs – today and in the future.

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