The latest data reveals that over a million current account switches were made for the third consecutive year. Nationwide led the way with 41,450 customers switching to the building society between July and September. This surge was attributed to Nationwide’s attractive offers, including a £175 switching incentive and annual £100 bonus payments through its profit-sharing program.
Monzo and NatWest also saw significant customer gains, with 9,934 and 8,731 switches, respectively, during the last quarter of 2025, which recorded a total of 350,114 current account switches. Despite reaching a total of 1,054,521 switches in 2025, this figure was lower than the volumes seen in 2023 and 2024 when higher interest rates were boosting savings rates.
Conversely, Santander, Halifax, and JP Morgan’s Chase experienced account losses, with almost 20,000, 17,341, and 7,623 customers switching away, respectively. John Dentry, a product manager at Pay.UK, the operator of the Current Account Switch Service (CASS), emphasized the competitive banking market, encouraging consumers to find accounts that better meet their needs and offering a smooth and guaranteed switching process.
In other news, Waymo, a US firm under Google, is planning to introduce driverless cabs, known as robotaxis, in London later this year, pending safety approvals. These autonomous taxis aim to enhance road safety and provide a unique transportation experience. Additionally, the music and arts festival Solfest, held in Cumbria, has gone into liquidation after facing significant challenges.
Furthermore, a report by Begbies Traynor warns that numerous struggling companies, particularly in the hospitality sector, may face insolvency in 2026 due to various economic pressures. Meanwhile, Marks and Spencer was recognized as the strongest brand in the UK, followed by IKEA, Samsung, John Lewis, and Netflix. On the brink of collapse, UK retailer GAME has initiated administration proceedings for the second time.
Lastly, water bill hikes are on the horizon for households in England and Wales, with an average increase of 5.4% expected from April. The rise in water bills is attributed to necessary infrastructure investments, although criticisms have been raised regarding dividends to investors and executive pay in the water industry. Additionally, car production in Britain hit a 70-year low in 2025, with 717,371 cars manufactured, partly due to external factors like import tariffs and cyber attacks affecting the automotive sector.