You can switch your bank account by using the free online Current Account Switch Service or by visiting your nearest branch
High street banks are currently offering up to £400 for you to switch to them.
However, you need to meet certain eligibility criteria first in order to get the cash. For example, you may need to earn a certain amount to qualify for the switch cash.
Some banks will ask that you’re a new customer – or you may be required to spend a certain amount each month.
You can switch your bank account by using the free online Current Account Switch Service or by visiting your nearest branch.
However, if you’re going to be putting in a big credit application soon, such as a mortgage, you may want to hold off on doing multiple switches in a short period of time.
This is because each application to switch will show on your credit file. Here, we round up the latest bank account switch offers.
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Santander
Santander is offering new customers a £200 switch incentive. You can get this cash by moving to its Everyday Current Account, Santander Edge, Santander Edge Up or Santander Edge Explorer Current Account.
Each of these accounts have different features. The Everyday Current Account is fee-free but is more of a no-frills account.
The Santander Edge account gives you up to £10 cashback on selected household bills every month, as well as access to a 6% easy-access savings on up to £4,000, for a £3 monthly fee.
The Santander Edge Up gives up to £15 cashback on selected household bills every month for a higher £5 a month fee. For this account, you need to pay in £1,500 a month.
The Santander Edge Explorer Current Account is £17 a month and is a packaged bank account that gives you travel, breakdown and mobile phone insurance, plus access to the 6% saver.
To get the £200 bonus, you need to have two active household Direct Debits and pay in £1,500 within 60 days.
You can’t have ever had a switch bonus from Santander, and you must be switching from a non-Santander, Cahoot or Cater Allen account. You also can’t have had a Santander current account on January 1, 2025.
First Direct – £175
Switch to the 1st Account from First Direct and you could get £175. The 1st Account comes with a 7% regular saver where you can put away up to £300 a month, and many customers also get a £250 0% overdraft.
To get the switch cash, you have to move over two Direct Debits or standing orders, pay in at least £1,000 and make five debit card payments within 45 days
You won’t qualify if you’re a previous First Direct customer, or if you opened a HSBC current account since January 2018.
Nationwide – £175
Nationwide is giving new customers £175 to switch to its FlexAccount, FlexDirect or FlexPlus accounts. The FlexAccount is the no-frills, basic account.
The FlexDirect account is fee free but you also get 5% interest on up to £1,500, 1% cashback for 12 months, plus access to its 6.5% regular saver, and a 0% overdraft on up to £50.
The FlexPlus is a packaged bank account that comes with an £18 a month fee but it gives you phone, breakdown and travel insurance.
To get the £175 switch bonus, you must move over two Direct Debits, within 28 days, and pay in at least £1,000 and make one debit card payment within 31 days.
You can’t have switched into a Nationwide account, or have received switch cash from Nationwide, before. However, you will still qualify if you previously switched into a account just in your name, and you’re now moving to a joint bank account – or the other way round.
NatWest – £150
If you switch to the NatWest Select account, or its NatWest Reward account, you could get £150 free. The NatWest Select account is its basic bank account.
The NatWest Reward comes with a £2 a month fee, but you get £5 a month cashback if you pay in £1,250, have two Direct Debits and log into its mobile banking app each month.
You also get access to its 7% variable saver on up to £150 a month, on balances up to £5,000. The £150 switch offer is unlocked if you pay in at least £1,250 and log in to its mobile banking within 60 days.
You won’t be eligible if you had a NatWest current account as of February 17, or if you’ve ever received a switch bonus from NatWest, RBS or Ulster Bank before.
Co-op Bank – £175
You can get £175 from Co-op Bank if you move to its fee-free Current Account, or its Everyday Extra account. The Everyday Extra Account costs £18 a month and gives you travel, breakdown and mobile phone insurance.
Both accounts give you access to its regular 7% variable interest for 12 months, where you can put away up to £250 a month.
Co-op will give you £100 when you switch, if you deposit at least £1,000, have two Direct Debits, register for online banking or its mobile app, and make at least transactions using the debit card, within 30 days.
Once you have qualified for the £100, you must then keep your account active to get £25 a month for three months. To get the £25 a month for three months, every month, you need to deposit at least £1,000, make ten transactions using the debit card and have two Direct Debits.
You won’t qualify for the Co-op switch cash if you’ve previously had a switch bonus from the bank since November 1, 2022.
Barclays – £400
You can get £400 by switching to the Barclays Premier Current Account. But this account is only for high earners, as you can only open it if you make at least £75,000 a year or can save or invest at least £100,000 with Barclays.
The account gives you Barclays’ Blue Rewards perks, including a free Apple TV+ subscription and access to its 4.21% saver up to £5,000.
To get the £400 switch bonus, you must pay in at least £4,000 and move over two Direct Debits within 30 days.
You won’t qualify if you had a Barclays current account on or before February 17, or if you’ve previously received switch cash from Barclays.
HSBC – £250
If you move to the HSBC Premier account, you could get up to £250 switch cash. This is another account for high earners, as you need to be earning at least £100,000 a year.
It gives you travel insurance plus a range of health benefits including digital GP appointments. To get the switch bonus, you can’t have received switch cash from HSBC since January 1, 2025.
You can also get a separate £500 bonus by investing or saving at least £100,000 with HSBC.
