The latest data shows that over a million current account switches were made for the third consecutive year. Nationwide led the way with 41,450 customers switching to their building society in July to September, attracted by a £175 switching offer and yearly £100 bonus payments. Monzo and NatWest also saw significant switches, with 9,934 and 8,731 customers, respectively. The final quarter of 2025 recorded the highest activity, with 350,114 current account switches, as reported by the Current Account Switch Service (CASS).
In total, there were 1,054,521 switches in 2025, although this figure was lower compared to the volumes in 2023 and 2024 due to higher interest rates at that time. However, some banks experienced a loss in customers during this period. Santander lost nearly 20,000 current accounts, Halifax saw 17,341 customers switch away, and JP Morgan’s Chase lost 7,623 accounts.
John Dentry, product manager at Pay.UK, which operates CASS, stated that the high level of activity indicates a healthy and competitive banking market where customers are empowered to find accounts that better suit their needs. He emphasized the importance of consumers feeling confident in moving their money to more suitable accounts easily and with a guaranteed switch.
In other news, Waymo, a US company, is planning to launch its fully autonomous taxi service in London later this year. The company’s driverless cabs, known as robotaxis, have already begun testing on the capital’s streets. Waymo aims to reduce traffic accidents and injuries involving pedestrians and cyclists with its advanced technology. However, fares for this service are expected to be higher than those of human-driven Uber and black cabs.
Meanwhile, the organizers of Solfest, a music and arts festival in Cumbria, have confirmed the company’s liquidation following significant challenges. The fate of tickets purchased for Solfest 2026, scheduled for August 27 to 30, remains uncertain. The festival, which last took place in August 2025, featured performances from various renowned artists.
According to a report by Begbies Traynor, tens of thousands of struggling companies, including many in the hospitality sector, are facing financial distress due to tax hikes, rising wage bills, and weak consumer demand. The report revealed a 44% year-on-year increase in companies in critical financial distress in the final quarter of 2025.
The UK’s strongest brands were also revealed, with Marks and Spencer topping the list in the YouGov BrandIndex tool. Despite facing challenges like a cyber attack in 2025, M&S retained its strong brand image. Other top brands include IKEA, Samsung, John Lewis, and Netflix.
Furthermore, UK retailer GAME is on the verge of collapse for the second time, as indicated by a notice of intention to appoint administrators. This move follows previous closures and job losses in 2012 and 2020. EasyJet has reported record summer bookings, with a significant increase in flight sales for the upcoming season. The airline also announced a partnership discussion with Starlink, a satellite internet company.
Lastly, millions of households are set to face another round of inflation-busting water bill hikes from April, with average increases of 5.4% across England and Wales. Water bills are expected to continue rising steadily to fund essential infrastructure improvements, despite criticism of high dividends to investors and executive pay in the water industry. The average water bill is projected to increase by £33 to £639 from April 1.