UK’s Current Account Switch Service (CASS) officially designated by the PSR

Bacs, the organisation which owns and operates the UK’s Current Account Switch Service, has welcomed the Payment Systems Regulator’s announcement that CASS is now officially designated as an alternative switching scheme. The service is now three years old and, since launch, the switching engine has seen 3,240,640 successful switches – including 73,899 small business accounts – and reports a seven day switching success rate of 99.7 per cent. Read more here.

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