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Bacs became a subsidiary of Pay.UK (formerly known as New Payment System Operator (NPSO)) on 1 May 2018, [2] and responsibility for direct debit, Bacs Direct Credit, the Current Account Switch Service, Cash ISA Transfer Service and the Industry Sort Code Directory was given to Pay.UK. [3]
The number of current account customers using the seven-day switching service in the final quarter of 2022 was the highest since it launched in 2013. ... The Current Account Switch Service (Cass ...
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Halifax had the largest net switching gain in Q3 2020, followed by Starling Bank, Monzo and Lloyds, according to switching data.
The Payments Council went on to implement the mobile payment system Paym and the Current Account Switch Service (CASS). [ 6 ] In April 2015, the regulatory powers of the Payments Council were transferred to a new body, the Payment Systems Regulator , [ 7 ] set up by the Financial Conduct Authority in accordance with section 40 of the Financial ...