Top bank accounts offering
free cash to switch

The best bank account switch offers we've seen recently…

Best bank account switch offers

We're always keeping an eye out for the top bank accounts that offer free cash for switching.

We frequently check with all the main banks to find the latest switch bonuses, to help you earn the best bank incentives. Martin Lewis is another great source for this – check out MoneySavingExpert's list of top bank accounts that pay free cash for switching.

Here are our top picks:

Santander

Offer: £150 + 6% easy-access saver to switch.

  • - Valid for: new or existing Santander Edge, Edge Up, or Everyday accounts.
  • - You need to switch at least 2 direct debits – we can help!
  • - You also need to pay in £1,500 within 60 days of requesting your switch.
  • - You can't have received a switch bonus from Santander since September 2021.
  • - Paid within 90 days after you request your switch. You need to keep your direct debits for at least 60 days after you request your switch.
  • - You must switch from another bank using the Current Account Switch Service.
  • Please check the Santander website for more details, and read the offer terms & conditions before you switch to Santander.

NatWest

Offer: £180 + £3/month cashback + 6.17% regular saver to switch.

  • - Valid for: new or existing NatWest Reward accounts.
  • - You need at least 2 direct debits (min £2 each) to get the full benefit – we can help!
  • - You also need to pay in £1,250 and login to the mobile banking app within 60 days of completing your switch.
  • - There is an account fee of £2/month, but you'll get £5/month cashback when you pay in £1,250, pay 2 direct debits (min £2 each), and log into the mobile banking app.
  • - The linked Digital Regular Saver pays 6.17% (variable) and you can save up to £150/m. If you save the full amount for a year, that's nearly £60 interest.
  • - You can't have received a switch bonus from NatWest, RBS, or Ulster Bank before.
  • - Paid within 7 days after you meet the criteria.
  • - You must switch from another bank using the Current Account Switch Service.
  • Please check the NatWest website for more details, and read the offer terms & conditions before you switch to NatWest.

Lloyds Bank

Offer: £200 to switch.

Deadline to start your switch: Tue, 10 Dec.

  • - Valid for: new Club Lloyds, Club Lloyds Silver, or Club Lloyds Platinum accounts.
  • - You need to switch at least 3 direct debits – we can help!
  • - You also need to pay an account fee (£3/month for Club Lloyds, unless you deposit £2,000/month).
  • - You can't have received a switch bonus from Lloyds Bank, Bank of Scotland, or Halifax since April 2020.
  • - Paid within 10 working days after you start your switch.
  • - You must switch from another bank using the Current Account Switch Service.
  • Please check the Lloyds website for more details, and read the offer terms & conditions before you switch to Lloyds.

Nationwide

Offer: £175 + 5% interest + 1% cashback to switch.

  • - Valid for: switching into a FlexAccount, FlexPlus, or FlexDirect current account.
  • - You need to switch at least 2 direct debits – we can help!
  • - You also need to deposit £1,000 into your account, and make a debit card payment, within 31 days of requesting your switch.
  • - You can't have switched into Nationwide, or received a switch bonus from them, since 18 August 2021.
  • - Paid within 10 days after you meet the criteria.
  • - You must switch using the Current Account Switch Service and complete your switch within 28 days.
  • Please check the Nationwide website for more details, and read the offer terms & conditions before you switch to Nationwide.

Co-Op Bank

Offer: £75 + £25/month for 3 months to switch.

  • - Valid for a range of new Co-Op Bank accounts.
  • - You need to switch at least 2 direct debits – we can help!
  • - You also need to deposit £1,000 into your account, register for online banking, add your new debit card to Apple Pay or Google Pay, and make 10+ debit card payments within 30 days of completing your switch.
  • - There are further requirements for the additional £25/month bonus.
  • - You can't have received a switch bonus from Co-Op Bank since November 2022.
  • - Paid within 7 days after you meet the criteria.
  • - You must switch using the Current Account Switch Service, request your switch within 2 weeks, and complete your switch within 28 days.
  • Please check the Co-Op website for more details, and read the offer terms & conditions before you switch to Co-Op.

First Direct

Offer: £175 + 7% regular saver to switch.

  • - Valid for: new 1st Accounts.
  • - You need to switch at least 2 direct debits or standing orders – we can help!
  • - You also need to deposit £1,000 into your 1st Account, and make 5+ debit card payments within 45 days.
  • - You can't have had any account with First Direct before. You also can't have opened a current account with HSBC since January 2018.
  • - Paid by the 20th of the month after you meet the criteria.
  • - You must switch from another bank using the Current Account Switch Service and complete your switch within 45 days.
  • Please check the First Direct website for more details, and read the offer terms & conditions before you switch to First Direct.

Have we missed something?

Please let us know!

Whilst we try our best to keep this page up-to-date and accurate, please make sure you check the switch offer directly with the bank before you decide to switch.

You should also make sure you double-check the eligibility criteria before you apply. For example, there might be a monthly fee or a minimum monthly deposit, or the bank might want to check other things like your credit score, or if/when they last gave you free cash for switching banks.

Make sure you use the Current Account Switch Service when switching banks for a sign-up bonus. This is offered by all the banks we list here, and the bank you're switching to (your new bank) should provide this.

And, to be clear - this is not financial advice!

Last updated: Mon, 2 Dec

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