Best Bank Switching Bonuses UK

Banks regularly pay cash bonuses of £100 to £200 to attract new customers. With the Current Account Switch Service (CASS), switching takes just 7 working days and is completely guaranteed — all your payments, direct debits and standing orders move automatically.

Free money alert: You can switch multiple times and collect multiple bonuses. Some people earn £400-£600/year just from bank switching. The switch guarantee protects you if anything goes wrong.

How Bank Switching Works

1. Open a new account with the bank offering the bonus
2. Request a switch using the Current Account Switch Service (CASS)
3. Your old account closes, all payments move across automatically within 7 working days
4. Meet any qualifying requirements (usually: pay in a set amount each month, use the debit card X times)
5. Bonus paid — usually within 30 days of meeting the criteria

Current Switching Bonuses

Offers change regularly. The banks below frequently run switching bonuses — check each bank's website directly for the latest offer and qualifying criteria. We update this page regularly but always verify before switching.

Bank	Typical bonus	Key requirements
First Direct	£175	Switch and pay in £1,000 within 3 months. One of the most reliable bonus payers.
Nationwide FlexDirect	£200	Switch and pay in £1,000/month. Also offers 5% AER on up to £1,500 for 12 months.
HSBC Advance	£175	Switch, pay in £1,500/month and use debit card.
Lloyds Club	£175	Switch with 2+ direct debits, pay in £1,500/month.
NatWest / RBS	£150	Switch with 2+ direct debits. One of the simpler requirements.
TSB	£100–£125	Switch, pay in minimum amount, use debit card 5+ times/month.

Tips for Maximising Switch Bonuses

• Keep your old bank open if you can — some banks won't pay the bonus if you've switched from them before
• Read the eligibility criteria carefully — most exclude existing customers or people who've had a recent account with that brand
• Salary accounts work well — if you get paid monthly, use the new account for your salary to hit the pay-in requirement easily
• The switch guarantee is legally binding — if any payment goes missing after a switch, the bank must reimburse you immediately
• Check your credit file — opening multiple bank accounts can cause a small, temporary dip in your credit score. Space switches out if you're planning to apply for a mortgage.

Best Banks Beyond the Bonus

Once the bonus is collected, consider whether the account is worth keeping. Some stand-out accounts:

• Chase UK — 1% cashback on everyday spending for 12 months, free overseas transactions, no account fee
• Starling Bank — best-in-class app, free overseas spending, interest on balance, no fees
• Monzo Plus / Premium — paid accounts with travel insurance, interest, credit score monitoring
• First Direct — consistently top-rated for customer service, £250 fee-free overdraft

Compare all current accounts at MoneySavingExpert for the most up-to-date switching bonuses and account features.