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Switching business accounts

Take the hassle out of switching

The Current Account Switch Service makes switching your account to Clydesdale Bank straightforward. We’ll do it all for you and keep you informed every step of the way.

The Current Account Switch Service is available to businesses that employ fewer than 50 employees, and have an annual turnover of no more than £6.5m. It is also available to small charities with an annual income of less than £6.5m and small trusts with a net asset value of less than £6.5m.

The Current Account Switch Service is free to use. The service is available to sole traders, partnerships, charities, trusts and small businesses. All you have to do is choose and agree your switch date and fill out a simple form. Then you can be safe in the knowledge that it'll only take seven working days to switch. And that's guaranteed.

The Current Account Switch Service - the facts

Seven working day switch backed by the Current Account Switch Guarantee
Any balance will be transferred to your new account and your old account will be closed*
All your existing payments will be set up on your new account
Any payment made to your old account will be credited to your new account automatically
If anyone makes payment to your old account they'll be given your new account details so that they can update their records.

*If you have a debit balance on your old account, you'll need to either pay this off or arrange a planned borrowing limit with us (subject to status and eligibility), before your switch starts, otherwise your account will not be closed.

Switch in three easy steps

We will ask you to fill out a simple form and agree a switch date with you. We'll contact your old bank or building society within two working days to arrange the switch and let you know they have agreed to the request.
Using the Current Account Switch Service we'll arrange for any standing orders, Direct Debits and any regular credits made to your account to be transferred to your new account with us within five working days of receiving this information from your old bank.
Your old bank will transfer any balance to your new account and close your old account on your chosen switch date.

In just seven working days your switch will be complete. You can use your old account as normal until your switch date.

After you switch, any payments sent to or requested from your old account will be redirected to your new account.

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All accounts are subject to status and eligibility.

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Current Account Switch Guarantee

We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.

The service is free to use and you can choose and agree your switch date with us.
We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
If you have money in your old account, we will transfer it to your new account on your switch date.
We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
If there are any issues in making the switch, we will contact you before your switch date.
If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.

For more information go to www.currentaccountswitch.co.uk

What if our old bank does not use the Current Account Switch Service?

Publication of Performance Objectives

Period 1st July 2018 to 31st December 2018:

Commitments Old Bank	Target	Target %	Achieved %
Forward new bank, and/or Small and Medium Enterprises (SME) as requested, details of SME's existing direct debits ("DDs") and standing orders ("SOs") following receipt of request to do so from SME or new bank (authorised by SME).	By close of business on the second working day following the working day of receipt of the request.	80	100
Action request by new bank (authorised by SME) or by SME to cancel DDs and SOs.	By close of business on the second working day following the working day of receipt of the request or, where a later date for action is specified by, or agreed with, new bank or SME, by such later date.	80	100
Where applicable, action request by new bank (authorised by SME) or by SME to transfer, in the manner requested, the available balance remaining in SME's account with it to new bank or to SME. If requested by SME or by new bank (authorised by SME), close account.	By close of business on the third working day following the working day of receipt of the request. An additional working day is applicable where the SME or new bank (authorised by SME) has requested closure of the account (i.e. a total of four working days to close the account whether it has a credit or zero balance).	80	100
Where applicable, on receipt of sufficient cleared funds from new bank or SME to clear balance of SME's overdraft (including interest and costs), level off SME's account (showing the balance as zero) and, if, in addition, requested by SME or new bank (authorised by SME), close account.	Within 3 working days following the working day of receipt of the funds from SME or new bank. An additional working day is applicable where the SME or new bank (authorised by SME) has requested closure of the account.	80	100

Period 1st July 2018 to 31st December 2018:

Commitments New Bank	Target	Target %	Achieved %
Following receipt of details of regular payments (DDs and SOs) from old bank or SME set up, in accordance with any instructions from SME, new SOs and DDs, in relation to the latter by sending a transfer advice to DD originators advising them of details of both the old bank and the new bank.	By close of business on the third working day following the working day of receipt of details of such regular payments or, where a later date for action is specified by, or agreed with, SME, by such later date.	80	100
Where applicable and requested by SME, send request to old bank to transfer to it the available balance remaining in SME's account with old bank.	By close of business on the second working day following the working day of receipt of the request to do so by SME or, where a later target date for the transfer has been agreed with SME, in sufficient time to enable the transfer to take place by such later date.	80	100
Where applicable, and provided SME has put new bank in a position to do so, action request to transfer to old bank funds, in accordance with SME's instructions, to clear balance of SME's overdraft (including interest and costs) remaining in SME's account with old bank.	By close of business on the second working day following the working day of receipt of the request or, where a later date for the transfer has been agreed with SME, by such later date.	80	100

In addition to the above commitments:

we will not levy any charges to close or transfer your account other than any outstanding interest or fees accumulated on the account (please ask for details)
if you want to switch to another bank and you have previously held a loan with us; to help make the transfer, we will, on request, provide a standard "Credit History Report"* detailing your arrangements and account balances. We will do this within 5 working days after we receive your written instruction.

We are so committed to ensuring the smooth transfer of your account that, if we don't deliver our promise to you, we will compensate you for the inconvenience.

If you experience a delay in the transfer process then please let us know by writing to your account manager with the details in the first instance.

*"Credit History Report" means an accurate statement of a business customer's credit performance over the preceding most recent 12 month period (or over such lesser period as it shall have maintained a business current account with the Bank).

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Switching business accounts

Take the hassle out of switching

The Current Account Switch Service - the facts

Switch in three easy steps

Business enquiries

New customers

General enquiries

Branch locator

Current Account Switch Guarantee

For more information go to www.currentaccountswitch.co.uk

What if our old bank does not use the Current Account Switch Service?

Publication of Performance Objectives

In addition to the above commitments: