Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 24 May 2022 to Question 4565, on Bank Services, which banks are participants in the Current Account Switch Guarantee; and which challenger banks are excluded.

Over 40 UK current account providers are signed-up to the Current Account Switch Service, which covers 99% of the market. The list of participants is set out in full on the Service’s website. The Switch Guarantee is provided by all the Service’s participants. In Q1 2022, 99.8% of switches were completed in the seven working day timescale. Any organisation which meets the eligibility criteria can join the service.