THE Payments Council has published a six-month dashboard for the new Current Account Switch Service, covering the period from the start of January, 2014 to the end of June, 2014.

Without being prompted as to what it is, more than two-thirds of people (67%) in the UK said that they are now aware of the Current Account Switch Service, which is up from 64% at the start of 2014. Customer confidence in the new service is similarly high, increasing slightly from 63% to 65% over the same time period.

Good levels of awareness and confidence in the Current Account Switch Service have helped to contribute to an increase in switching levels. In the six-month period to the end of June, 2014, there were 592,695 switches. That represents a 16% increase on the number of switches during the same time period one year earlier when there were 511,139 switches.

Adrian Kamellard, chief executive of the Payments Council, said: "The Current Account Switch Service set out to remove the fear factor from switching and these results suggest that it is doing exactly that.

"Awareness and confidence levels are up as individuals, small businesses and charities are getting the message that switching has become easy and straightforward.

"Competition is growing as existing providers are upping their offerings and challenger banks are competing to attract new customers. This all amounts to greater choice and good news for customers.”