The latest data reveals that the number of current account switches has exceeded one million for the third consecutive year. Nationwide stood out with 41,450 customers switching to their services in the July-September period, attracted by incentives such as a £175 switching offer and annual £100 bonus payments through their profit-sharing scheme.
Monzo and NatWest also saw significant gains, adding 9,934 and 8,731 customers, respectively. The busiest quarter for current account switches was the final three months of 2025, with 350,114 switches recorded by the Current Account Switch Service (CASS). The total switches for 2025 reached 1,054,521, although lower than the figures reported in 2023 and 2024 due to higher interest rates driving up savings rates.
Conversely, Santander experienced a loss of nearly 20,000 current accounts during the period, while Halifax and JP Morgan’s Chase lost 17,341 and 7,623 customers, respectively.
John Dentry, a product manager at Pay.UK, which manages CASS, emphasized the healthy competition in the banking market, enabling consumers to find accounts better suited to their needs easily and quickly.
In a separate development, Waymo, a US firm, unveiled plans to introduce driverless cabs on UK roads starting in autumn, aiming to launch its autonomous taxi service in London by the end of the year. The company’s self-driving cabs, known as robotaxis, have already commenced testing in the city.
Waymo’s technology, backed by Google, promises to enhance road safety by reducing traffic accidents and injuries to pedestrians and cyclists. Although fares are anticipated to be higher than traditional taxi services, Waymo expects to attract customers seeking a safe and private transportation option.
Solfest, a renowned music and arts festival based in Cumbria, has unfortunately declared bankruptcy due to significant challenges. Established in 2004, Solfest hosted various notable performances over the years but is now facing liquidation. The fate of tickets purchased for the canceled 2026 festival remains uncertain.
Furthermore, a report warns that numerous struggling companies, termed as “zombie” firms, may face insolvency in 2026 amid tax hikes, escalating wage expenses, and weakened consumer demand. The hospitality sector, particularly hotels, bars, and restaurants, has been severely impacted due to subdued consumer confidence.
Lastly, easyJet, a budget airline, has reported record summer bookings with over 20% of peak season flights already sold out. Despite facing losses in the previous quarter due to operational costs related to expanding bases in Italy, easyJet remains optimistic about its future prospects. The airline is also exploring potential partnerships with Elon Musk’s Starlink satellite firm to provide in-flight Wi-Fi services.