Starling Bank has been the second most switched-to bank in the UK for three quarters now.
In Brief:
In October and December 2020, 15.960 customers switched their primary account to Starling.
This data comes from the Current Account Switch Service (CASS).
It follows behind Lloyds Bank which had 29,556 net switches.
What does this mean?
Operated by Pay.UK, the CASS aims to make it easier for people to switch to another bank account in order to promote consumer choice.
Starling CEO Anne Boden commented: “Starling’s combination of a really user-friendly app, backed up with fantastic customer service, has brought thousands of switchers our way, rather than the offer of cash incentives or elaborate gifts. We intend to keep this focus on having the very best technology as our key differentiator.”
FinTech Alliance EPAM Systems recently revealed what incentives would make users switch their bank – you can read their report here.
