Lloyds and Santander were the worst affected by bank account switching in the past quarter, with Barclays also one of the major net losers.
Santander UK (LSE:BNC) saw a net 23,000 account switches between July and September 2025, the largest for an individual lending brand, as over 33,000 accounts were closed and over 10,000 added.
It was followed by Barclays PLC (LSE:BARC) with 18,330 net losses.
Lloyds Banking Group PLC (LSE:LLOY) lost a net 9,400 accounts, and subsidiary Halifax saw 14,750 switch away, meaning the UK's largest lender was the biggest overall loser in the quarter.
There were a total of over 265,000 current account switches in the last three months, according to the Current Account Switching Service (CASS).
Lenders with an ethical edge seemed to be winners, with Nationwide Building Society picking up the most customers, welcoming 54,347 new accounts, followed by Co-operative Bank, with 9,175.
Of the digital-first 'neobanks' Monzo gained a net 8,246 accounts, as over 15,000 new accounts were opened, more than double the number that were closed, while Starling Bank lost 1,237, as over 3,000 newly opened accounts were offset by a larger number of departures.
Revolut is not yet included, as while it operates current accounts and was granted a banking license in July 2024, the fintech giant is still in a 'mobilization' phase, limiting the amount of customer deposits it can hold.