Just over 38,118 customers (34%) used the service to close their old current account and transfer payments (such as direct debits) to the new account. Sixteen per cent of customers only transferred their payments to a new bank. Ten per cent of requests involved closing the old current account without transferring payments (but with a balance transfer). In total, the service received 111,745 requests in 2025.

Since the launch of the savings account switching service at the end of 2020, many customers have also used it. In 2025, 45,178 customers opted to switch banks and close their savings account.

We see a slight decrease in the number of bank switches compared to 2024 (134,343 requests). This is mainly due to changes in the banking landscape (mergers, etc.) in 2024, which may have prompted some customers to change banks. However, the service remains very popular, and customers easily find their way to it.

The bank switching service offers a comprehensive solution by informing not only creditors with direct debits but also those making recurring transfers, such as employers and benefit agencies, about the new account number. The consumer does not need to take any action.

This makes Bankswitching a highly efficient service and demonstrates that competition between banks is active. The protocol introduced in early 2024 to make savings accounts easier to compare also enables consumers to compare regulated savings accounts more easily and provides more information on how to switch banks. This has made switching via Bankswitching even more accessible for customers.

When switching a current account, the customer only needs to contact the new bank, complete the application form, and return it. The old and new banks then work together to arrange the switch. The customer also chooses the switch date on the form (at least 10 banking days later and no more than one month).

The major advantage is that the customer does not need to notify creditors using direct debit or recurring payers of the new account number: the banks handle this between themselves. Creditors and recurring payers receive a notification of the switch via the interbank Bankswitching service.

Customers can also use the service for savings accounts. The customer asks the new bank to settle the savings account at the previous bank via Bankswitching. The new bank will arrange the settlement directly with the previous bank.

The participating banks currently offering the savings account switching service are: Argenta, Bank Van Breda & C°, Banque CPH, Belfius, Beobank, BNP Paribas Fortis, CBC Banque, Crelan, Deutsche Bank, Europabank, Fintro, ING Belgium, KBC Bank and vdk bank.

All information about the free bank switching service can be found on our Bankswitching page.