Major bank loses 25,000 customers to rivals in three months - and there's one big beneficiary

Nationwide gained the most customers at the end of last year, the latest data from the Current Account Switching Service shows. 

The building society gained 64,527 customers through the service between October and December.

It was followed by Barclays, which gained 18,534 accounts, and Lloyds with 12,073.

At the bottom of the table was Halifax, which lost a total of 25,629 accounts.

In the first three months of this year, more than 319,500 current account switches took place.

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The number of switches was up 43% on the same time last year, with February and March the busiest time for people to swap banks.

John Dentry, product manager at Pay.UK, owner and operator of CASS, said: "It has been an economically turbulent year so far and we anticipate high levels of activity to continue as interest rates creep back up.

"Higher savings rates are a key driver of consumer movement, and if previous offers are brought back to the market, we would expect a flurry of activity to follow."

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A Halifax spokesperson said: "Switcher figures are a partial snapshot of account opening, shaped by when different deals are on. Customers open accounts outside of switching, and we continue to offer a wide range of options."

(c) Sky News 2026: Major bank loses 25,000 customers to rivals in three months - and there's one big beneficiary