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Monzo begins testing Current Account Switch Service

By Monzo

With help from the Current Account Switch Service, we’re excited to say that you’ll soon be able to switch some or all of your payments over to Monzo.

Our mission is to build an incredible bank account that gives you total visibility and control over your money, and everything it touches.

Starting today, we’re gradually making it possible for small numbers of people to switch payments from their existing banks over to Monzo.

So we can be confident that everything’s working as it should, we’re rolling this feature out slowly. If you’re interested in switching some or all of your payments over to Monzo, and want to help us test it out, you can opt in to switch below.

Once we’re confident everything’s working well, we’ll make the option to switch available to everyone

What is the Current Account Switch Service?

We believe that everyone should be able to make an informed, active choice about the bank they use, rather than staying with the same provider for years and years just because they don’t have time to do the admin.

The Current Account Switch Service is designed to do exactly that. It’s a service backed by the government which launched in 2013 that makes it simple to switch bank accounts.

You can switch some or all of your payments between banks that support the service. It only takes a few taps, and eliminates all the admin and anxiety.
How does it work?

If you’ve already upgraded your Monzo account, you can choose to switch all or some of your payments over to Monzo by doing a full or partial switch.

A full switch transfers all of your payments and balance over to Monzo, and closes your account at your other bank. You can choose a switch date that suits you, and they take seven working days to finish.

A partial switch lets you choose which payments you want to move to Monzo, and which to keep where they are. Not all banks on the service support partial switches, so we’ll let you know in the app if your old bank doesn’t support your request to switch.

The service is completely free to use and all full switches are covered by the Current Account Switch Guarantee. This means that if anything goes wrong when you switch, you will be refunded for any interest paid or lost and any fees charged because of the failure.

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