The number of people switching current accounts fell by more than 100,000 in 2015, new figures have revealed.
The Current Account Switch Service (CASS) said there were 1.03m switches between 1 January and 31 December last year, compared to 1.15m in 2014 – a 10% drop.
Following the introduction of a high profile media campaign in September 2015, 257,638 switches took place during October, November and December, an 11% increase compared to the previous three months.
Since the CASS was launched in September 2013, there have been more than 2.5m switches in total.
The scheme makes it easier for customers to switch accounts from one bank or building society to another.
Switching is free and the process can be completed in seven working days.
Customers can choose and agree a switch date with their new current account provider and all payments going out and in will be moved automatically from the old account to the new one.
If anything does go wrong, customers are protected by the Current Account Switch Guarantee, which means they will receive a refund of interest and charges on both their old and new accounts.
Figures released by Lloyds Banking Group showed that 380,000 customers have switched to Halifax since the introduction of the CASS. The bank, which offers customers a £100 switching bonus, had a net gain of 34,000 new customers between March and June 2015.
Darren Tong, head of Halifax Current Accounts, said: “At a time when many providers charge their customers monthly current account fees, our Reward Account continues to gift eligible customers £5 a month.
“This, along with £100 to switch and the Switchers Prize Draw, makes Halifax’s offer one of the most simple and rewarding switches on the market.
“Our focus remains ensuring our customers can easily manage their account in a way and at a time that suits them.”
Payment system operator Bacs, which runs the CASS, said that by the end of December 2015, 72% of people in the UK were aware of the service – an increase of 14 percentage points since launch.
A new publicity campaign launched this month is hoped to further increase awareness.