Switching business accounts
The reliable way to switch
The Current Account Switch Service makes switching your account to Yorkshire 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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0800 032 3971
Monday - Friday 8.00am - 6.00pm
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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?
You can find impartial information and guidance on money matters on the “Money advice service” website.
Yorkshire Bank is covered by the Financial Services Compensation Scheme (FSCS), Find out more.