The number of current account customers switching banks is on the up, despite the fact that of the UK's 68 million current accounts, fewer than 1% were switched during the opening six months of 2016.

According to the latest figures for the Current Account Switch Service, 567,677 bank switches took place in the first half of the year. That's up 4% compared with the first half of 2015, but only 0.8% of the total number of UK current accounts.

Over the 12-month period from 1 July 2015 to 30 June 2016 just over a million switches took place, while more than three million current accounts have been switched since the switching scheme was launched in 2013.

The most recent data released by payments body Bacs shows that Halifax eclipsed Santander as the most switched-to bank in the fourth quarter of 2015 – a result that may be attributed to the fee hike on Santander's flagship 123 account.

Check out our Best Bank Accounts guide for our top picks.

Martin Lewis
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Which banks are people switching to and from?

Today's stats show that Halifax and Nationwide have gained significant ground in the battle to win current account customers' business.

In the last quarter of 2015, Halifax gained a net 31,181 customers (57,523 new customers and 26,342 losses) and Nationwide gained a net 26,150 (37,640 new customers and 11,490 losses).

On the flip side, Barclays was by far the worst performing bank, with a net loss of 27,064 customers. And Santander suffered a spectacular fall from grace, gaining a net 3,592 customers in the last quarter of 2015, compared with a whopping 51,002 the previous quarter.

Santander's 123 account has previously proved popular as it pays cashback on household bills as well as 3% interest on balances of £3,000 to £20,000, but in January this year Santander increased the fee on the account from £2 to £5 a month. The plans were announced in September 2015, which may explain the fall.

Here's the Bacs list in full:

Top banks for current account switches in Q4 2015
Brand Gains Losses Net gains/losses
Halifax 57,523 26,342 31,181
Nationwide 37,640 11,490 26,150
TSB 19,661 10,057 9,604
Santander 41,772 38,180 3,592
Clydesdale Bank 9,792 8,022 1,770
Tesco Bank 827 526 301
Bank of Ireland 351 681 -330
Danske 416 893 -477
AIB Group 168 947 -779
Bank of Scotland 2,479 3,658 -1,179
Ulster Bank 206 1,505 -1,299
HSBC 31,309 33,291 -1,982
Co-operative 2,846 8,961 -6,115
Lloyds Bank 15,024 26,039 -11,015
RBS 2,179 13,609 -11,430
NatWest 14,931 28,859 -13,928
Barclays 5,653 32,717 -27,064
Lower volume participants, ie, banks with fewer switches (1) 691 543 148
(1) C Hoare & Co, Cumberland Building Society, Duncan Lawrie, Hampden & Co, Reliance Bank, Weatherbys Bank and Virgin Money.
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