Facebook Instagram Linkedin Twitter Youtube
  • News
  • Market news
    • Snacks
  • Awards & Events
  • Categories
    • Chilled and Frozen
    • Comment and Interview
    • Confectionery
    • Hot drinks
    • Household and Cosmetics
    • Off-trade
    • Operations
    • Seasonal
    • Soft drinks
    • Sustainability
    • Tobacco and vaping
  • Scottish Grocer Awards
  • Goes to the Movies
Search
LogoScottish Grocer
- Advertisement -
  • Subscribe
  • Contact us
  • Advertise
  • Supplements
Facebook
Instagram
Linkedin
Twitter
Youtube
LogoScottish GrocerScottish Grocer and Convenience Retailer
- Advertisement -
  • News
    • JW Filshill hits £150k fundraising target for chosen charities

      Birds Eye teams up with Tefal to deliver ‘smart cooking’ solutions

      Olbas pushes for self-care during cold and flu season

      Scoot delivery marks 100th store launch

      Scotmid Co-op makes a life-saving donation to St Andrew’s First Aid

      SGF issues new advice on nicotine pouches compliance

  • Market news
    • Greggs brews into the off-trade with a new range of beers

      Albert Bartlett teams up with Mexicana and Applewood on new cheesy mash products

      Jaffa Cakes takes a bite into Halloween with new Cake Bars

      Hive Mind and Rave Coffee team up on new Stout

      Take a daily trip to the sweet shop with the Swizzels Advent Calendar

      Reese’s makes a frightful return for Halloween with a chance to win tickets to Scream 7

  • Awards & Events
    • Scottish Grocer Awards shortlist revealed

      Michelle McManus set to sparkle at Scottish Grocer’s 2025 awards

      Dundee’s The Yard wins £10k from Spar’s Community Cashback campaign

      Come and grab your popcorn! 

      Awards Profile – Sustainability Champion of the Year

      Awards Profile – Symbol Store of the Year (Single)

  • Categories
    • Chilled and Frozen
    • Comment and Interview
    • Confectionery
    • Hot drinks
    • Household and Cosmetics
    • Off-trade
    • Operations
    • Seasonal
    • Soft drinks
    • Sustainability
    • Tobacco and vaping
  • Scottish Grocer Awards
  • Goes to the Movies
  • Operations
  • Business, property & legal

Could you switch without a hitch?

4 March 2015
The Current Account Switch Service is offered by 34 banks and building societies and operated on their behalf by BACS Payments Limited.
The Current Account Switch Service is offered by 34 banks and building societies and operated on their behalf by BACS Payments Limited.

Account-moving service says it takes the pain out of transferring for small to medium businesses, with a guarantee to complete in seven working days

SMALL businesses can stay with their banks because of what they see as the complications associated with switching to a new account.
But the Current Account Switch Service, launched as a joint initiative in the banking industry, is claimed to make things much easier than before.
The scheme promises to have transfers completed within seven working days of a new account being opened – much less than the 18 to 30 days the process previously took.
A retailer with a simple current account, fewer than 10 staff and a turnover of less than £1.45m could be eligible for the switch service.
Once the customer has opened a new account with his or her chosen bank or building society the provider takes care of the entire switching process.
The customer doesn’t even need to inform their existing provider that they wish to move, scheme organisers say.
The new provider is required to make sure that any automated payments are transferred smoothly.
The account holder controls the date when their current account switches and the old account stays open until the switch date.
And the Current Account Switch Guarantee means the account holder will be reimbursed for any charges or interest caused by delays. The service is free and for 13 months after the account has been moved, payments accidentally made to or requested from the old account will be automatically redirected to the correct account at the new bank.
Designed for consumers, small charities and small businesses, the Current Account Switch Service is offered by 34 current account providers that make up almost all of of the UK market.
The scheme is managed by BACS Payment Schemes Limited. BACS is a not-for-profit operation that’s owned by 16 of the leading banks and building societies in the UK, Europe and the US.

  • TAGS
  • Current Account Switch Service
Share
Facebook
Twitter
Pinterest
WhatsApp
Linkedin
Email
Print
    admin
    front cover of Scottish grocer magazine

    Sign up to read the FREE digital magazine

    Sign up

    Scottish Grocer and Convenience Retailer
    Scottish Grocer, Scotland’s leading magazine for the convenience retailing sector, has kept Scotland’s local food and drink retailers up to date for nearly a century. Renowned within the industry as a quality title, its knowledgeable and consistent independent editorial ensures it is a magazine that retailers can trust and rely on regardless of market conditions.
    Facebook Instagram Linkedin Twitter Youtube

    Sign up for emails

    front cover of Scottish grocer magazine
    • News
    • Market news
    • Advertise
    • Terms & conditions
    • Social Media Policy
    • Privacy policy
    • Cookie Policy
    © 2025 Peebles Media Group Limited. All rights reserved

    https://scottishgrocer.co.uk/wp-content/uploads/2024/12/Alert-250ml-Can-Can-video-V2.mp4