Thousands of Brits switch to Nationwide, Monzo and NatWest – which banks are least popular?

Not all banks are equal, so it’s no wonder that Brits are compelled to switch accounts in search for something better.

That could be anything, whether it’s a bank switching offer with a lucrative cash bonus, access to a bank branch, higher interest rates or spending benefits.

The latest Current Account Switch Service (CASS) data shows that more than 12.4 million switches have taken place since the service launched in 2013, with over a million switches made in 2025.

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We look at the most popular banks that customers switched their accounts to, what made them move, and whether you should switch banks.

Which were the most popular banks in 2025?

Nationwide again proved to be the most popular banking company that customers switched to between July and September. The building society amassed the highest net switching gains (41,450).

It was followed by Monzo in second place (9,934), and NatWest in third (8,731).

We’ve compiled a list of the top banks and building societies in terms of net gains in a table below.

Customer data from the Current Account Switch Service is published three months in arrears, which is why the data here is from July to September, and not October to December.

Source: Current Account Switch Service. Data shows the number of full account switches completed between 1 July and 30 September, 2025

Of the banks and building societies listed above, four have had cash bonuses for customers switching their accounts. This includes Nationwide, First Direct, NatWest and TSB.

Nationwide’s lucrative year-round offers, such as the £100 Fairer Share bonus, which it has offered for three consecutive years now, the Thank You bonus, and member-only savings products, may have proved attractive to a large number of customers.

Meanwhile, Monzo paid customers up to £50 to refer a friend, which may have driven its popularity.

Which were the least popular banks in 2025?

While a few banks gained new customers, a lot more lost out.

Santander saw the biggest losses (-19,989), as 42,609 switches were made from the high street bank, while it gained 22,620 new customer accounts.

In second place is Halifax with a net loss of -17,341, while Chase had a net loss of -7,623. Chase lost out on many customer accounts after axing its easy access saver rate.

In the table below, we list the banks that suffered from the highest net losses between July and September.

Source: Current Account Switch Service. Data shows the number of full account switches completed between 1 July and 30 September, 2025

Access to online or mobile banking was the most frequently cited reason for choosing a new account, mentioned by 44% of respondents. This was followed by better customer service (36%), attractive interest rates (34%), spending benefits (28%) and other benefits or features (28%).

It comes after more than £31 billion was left in savings accounts paying 1% interest or less, with savers being urged to switch to an inflation-beating savings account.

Should you switch your bank account?

Switching has now become easier than ever before. According to the Current Account Switching Service data, 93% of customers in the last three years were happy with the switching process.

If you use CASS, it takes seven days for the switch to complete. It makes sure that your direct debits, standing orders, and any new payments to your old account are transferred automatically, even after you’ve switched.

However, that doesn’t always mean that moving your money to another account will be the best option for you. It’s always best to consider the long-term value of a current account, like whether you’re getting better customer service, how much you’ll incur in fees or charges, and if you have access to physical branches.

Depending on the type of account you hold, your bank may already be offering better savings rates, travel perks, or spending benefits. So if you’re switching for the cash incentive alone, it might not be worth it in the long run.

We look at whether switching banks can affect your credit score in a separate piece.