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What is the incentivised switching scheme?

In 2008 and 2009 we received financial support from the UK Government. As a result we made a commitment to help increase competition in UK business banking and reduce our market share.

Under the Incentivised Switching Scheme, we’re providing funding to participating banks to help them reward eligible SME customers to switch their accounts to them, should they choose to do so.

The Incentivised Switching Scheme is overseen by Banking Competition Remedies Limited (BCR). If your business is eligible to take part in the Incentivised Switching Scheme, we will write to you and let you know. The name we use for the Incentivised Switching Scheme is Business Banking Switch.