The service is free, and switches should be completed within seven working days. Direct debits should automatically transfer to your new account. Your new provider should do all the legwork for you! How to switch current accounts You may think switching would be too much of a hassle, but thanks to the Current Account Switch Service, it's easier than ever to change your bank account. What's more, it's completely free. Banks involved in the scheme have pledged to complete the switching process in seven days or fewer, and as an added guarantee they'll even refund you any charges or lost interest incurred should things go wrong.