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 moving to the building society in the July-September period, attracted by incentives like a £175 switching offer and yearly £100 bonus payments. Monzo and NatWest also saw increases, adding 9,934 and 8,731 customers, respectively. The busiest quarter was the last of 2025, with 350,114 switches recorded by the Current Account Switch Service (CASS).
In total, there were 1,054,521 switches in 2025, although this figure was lower compared to previous years due to the impact of higher interest rates on savings rates. On the flip side, Santander lost nearly 20,000 accounts, while Halifax and JP Morgan’s Chase saw customers moving away in numbers of 17,341 and 7,623, respectively.
John Dentry, a product manager at Pay.UK, which operates CASS, highlighted the healthy competition in the banking market, emphasizing the importance of consumers feeling empowered to find accounts that suit their needs efficiently and securely.
In other news, Waymo, a US firm, aims to launch its driverless taxi service in London later this year, pending safety approval. The company’s autonomous cabs, known as robotaxis, have already started testing on the city’s streets, with a focus on reducing traffic accidents and injuries.
Solfest, a music festival held in Cumbria, has gone into liquidation after facing significant challenges. The fate of tickets purchased for the 2026 festival remains uncertain. Meanwhile, the report indicates that numerous struggling businesses, including those in the hospitality sector, could face closure due to financial distress.
EasyJet has reported record summer bookings, despite increased losses attributed to expanding operations in Italy. The airline is exploring potential partnerships for in-flight Wi-Fi services. Additionally, water bills in England and Wales are set to rise by an average of 5.4%, with some companies imposing hikes of up to 13%, as part of ongoing investment in infrastructure.
Lastly, UK car production hit a 70-year low in 2025, with various factors like import tariffs and cyber attacks contributing to the decline. This downward trend in car manufacturing reflects challenges faced by the industry.
