Payment Switch Service

Payment Switch Service: The hassle-free solution

With more of our customers choosing current account services from PFS, we are making it easier for you to make that move too. Our holistic payment switch service manages the process of moving from your current financial institution from start to end with the minimum of hassle.

Our payment switch service includes the transfer of any regular payments such as direct debits or Standing Orders from an existing bank or building society account to a new PFS-issued account in your name. And we will take full control of this process on your behalf.

PFS was the first non-bank participant to provide a payment switch service, working with Pay.UK directly. We offer our payment switch service on the basis that managing your money should be simple and effective – overseen by our team of experts with specialist technology.

How does our Payment Switch Service work?

PFS excels in providing an easy, reliable and fast payment switch service. Our customers can transfer funds straight into their account at any time. Mobile payments and account control mean that our customers also have full access to our services no matter where they are.

To get started with our current account services, log into your existing online bank account and initiate your switch to PFS. We will ask you for your old bank or building society details. Next, you can choose the payments you want to move to your PFS account.

We will arrange for the transfer of these direct debits, standing orders and bill payments from the old bank or building society account to us. The old account will stay open, and the whole process takes around ten days from start to finish. Our payment switch service is that simple.

Why use our Payment Switch Service?

As the 2018 European Digital Technology Award Winner at the European Business Awards, you can trust our team of experts to deliver a market-leading payment switch service:

• Automated Process: Our streamlined payment switch service makes it easier for all our customers to transfer their regular payment arrangements to a PFS current account
• Unrivalled Expertise: We use our superb understanding of finance, account technology and cards to support customers in making the right decision with their accounts
• Fast, Reliable, Secure: Access our secure current account services online wherever you are and whenever you want
• Innovative Solutions: Our UK and Eurozone accounts provide robust alternatives to money and transaction management in the digital age