PSR’s annual monitoring: CASS’s compliance with the Payment Account Regulations 2015

13. September 2017.

We are satisfied that the Current Account Switching Service (CASS) continues to meet the criteria for designation as an alternative switching scheme. This follows a review of information and evidence submitted by Bacs on behalf of CASS for the purpose of an annual assessment. 

The Treasury appointed the PSR as the UK’s competent authority to designate alternative switching schemes, and to ensure such schemes continue to meet the criteria set out under the Payment Account Regulations 2015 (PARs).

That is, that the switching scheme:

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