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How to Switch Banks 2026 : Step-by-Step Guide

Editorial Team
Wise

Switching banks takes less effort than most people expect. In several countries, your new bank is required to move your direct debits and incoming payments for you, free of charge.

Why Switch Banks?

The usual reasons are:

  • Fees. Account maintenance fees, card fees and foreign-exchange charges add up over a year. Several online banks offer an account with no maintenance fee.
  • Features. Instant notifications, virtual cards, multi-currency balances or budgeting tools may be missing at your current bank.
  • Service. Opening hours, support channels or branch access may no longer suit how you bank.

Before switching, compare the full cost of the new account with your current one: maintenance fee, card fee, the conditions to keep the card free, foreign-exchange fees and ATM withdrawal fees.

Step-by-Step: How to Switch

  1. List your regular payments. Salary and other incoming transfers, direct debits (rent, energy, phone, insurance), standing orders and cards saved with online merchants.
  2. Choose and open the new account. Check the eligibility conditions and what documents are required.
  3. Use the official switching service if your country has one (see below). It moves your recurring payments for you.
  4. Update what the service does not cover. Card payments saved with merchants and subscriptions paid by card must be updated by hand.
  5. Keep the old account open for a short overlap, with enough money on it to cover any late direct debit.
  6. Close the old account once nothing arrives on it any more, unless the switching service closes it for you.

Official Switching Services

France: bank mobility service (mobilité bancaire)

In France, the new bank offers a free switching service. Once it has your complete file, the banks have 22 working days to carry out the switch:

  • the new bank has 2 working days to ask the old bank for the list of direct debit mandates and recurring transfers;
  • the old bank has 5 working days to reply;
  • the new bank then has 5 working days to send your new bank details to the organisations that debit or credit your account;
  • those organisations have 10 working days to take the change into account.

United Kingdom: Current Account Switch Service

In the UK, the Current Account Switch Service is free and takes 7 working days. Your new bank moves your payments and balance, your old bank closes the old account, and payments sent to the old account are redirected automatically. The service is backed by the Current Account Switch Guarantee.

Other countries

Many countries have no equivalent service, or one that only applies to some banks. In that case, follow the step-by-step list above and contact each organisation that pays you or debits your account.

Where Wise and Revolut Fit

App-based accounts are often opened alongside a main bank account rather than as a full replacement. They are not all the same kind of institution:

Wise

  • What it is: Wise is not a bank. It is a money transfer and multi-currency account provider that safeguards customer money (kept separate from its own funds) rather than lending it out.
  • Best for: international transfers and holding several currencies, with no account maintenance fee.
  • Keep in mind: safeguarding is not the same as bank deposit insurance.

Try Wise (sponsored link)

Revolut

  • What it is: for European customers, accounts are held with Revolut Bank UAB, a credit institution licensed in Lithuania. Eligible deposits are protected up to €100,000.
  • Best for: everyday spending in the app, multi-currency spending and travel.
  • Keep in mind: the features, limits and fees depend on the plan you choose; check the plan’s fee schedule, especially for ATM withdrawals and foreign exchange.

Try Revolut (sponsored link)

Quick comparison

WiseRevolut
TypeNon-bank (safeguarding)Bank (EU licence, Lithuania)
Account maintenance feeNoneDepends on plan
Multi-currency balancesYesYes
Main useTransfers, currenciesEveryday spending, travel

Mistakes to Avoid

  • Closing the old account too early. A late direct debit can bounce or trigger fees.
  • Forgetting card-based subscriptions. Switching services move direct debits and transfers, not card payments stored with merchants.
  • Ignoring the conditions for free cards. Some banks require a minimum income or a monthly card payment to keep a card free.
  • Assuming every app is a bank. Check whether your money is protected by deposit insurance or by safeguarding. Our guide to deposit insurance explains the difference.

FAQ

How long does it take to switch banks?

It depends on the country. In France, the bank mobility service has 22 working days once the new bank has your complete file. In the UK, the Current Account Switch Service takes 7 working days.

Does switching banks cost anything?

The official switching services in France and the UK are free. Your old bank may still charge fees under its fee schedule until the account is closed.

Will my direct debits be moved automatically?

With an official switching service, yes: the banks pass your new details to the organisations that debit or credit your account. Card payments stored with merchants must be updated by you.

Can I get a bonus for switching?

Some banks offer welcome bonuses, sometimes linked to using their switching service. See our guide to bank sign-up bonuses.

Conclusion

Switching banks is mostly a matter of preparation: list your regular payments, use the official switching service where it exists, update card-based subscriptions yourself, and keep the old account open for a short overlap.

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