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Account Switching Service

One account for all

Automated, hassle-free current account payments switching

Our customers are increasingly using PFS accounts as their main financial solution. To make this even easier, PFS can manage the entire switching from end to end. This includes redirecting any regular payments such as Direct Debits and standing orders from a bank or building society directly to a PFS issued account. PFS was been the first non-bank participant to provide a partial version of the service, working directly with Bacs.

The entire process is simple, reliable and streamlined, with PFS managing communications with the cardholder throughout.

How it works:

  • Cardholder logs in to existing online banking account and can initiate the switch
  • We’ll ask the cardholder for their old bank or building society details
  • Cardholder is able to select the payments they want us to move to their PFS account
  • We arrange for the transfer of these direct debits, standing orders and bill payments from the old bank or building society
  • The old account remains open
  • It takes around 10 days start to finish