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Compare Latest Current Account Switching Deals

Chip
Instant Access Account Chip
Min deposit £1
Term Instant Access
Interest AER 4.84%

Why we like it: A new savings account from Chip built to move with the Bank of England and reward you faster than the banks. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. Must be UK resident. Must be aged 18 or older.

Yorkshire Building Society
Easy Access Saver Yorkshire Building Society
Min deposit £1
Term Instant Access
Interest AER 4.80%

Why we like it: Save from £1. Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £500,000. Open and manage account online. FSCS Protected. Must be UK resident. Must be aged 16 or older

Post Office
Online Saver Account Post Office
Min deposit £1
Term Instant Access
Interest AER 4.75%

Why we like it: Choose monthly or annual interest payments. Unlimited deposits and withdrawals. 24/7 access to your savings. Open and manage online. After 12 months the rate will revert to the underlying rate, currently 1.55% gross/AER variable. Post Office Online Saver is provided by Bank of Ireland UK. Must be UK resident. Must be aged 18 or older. FSCS protected

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 4.75%

Why we like it: Which? Recommended Savings Provider. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)

Investec Savings
Online Flexi Saver Investec Savings
Min deposit £5000
Term Instant Access
Interest AER 4.70%

Why we like it: Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must be aged 18 or older and have a UK address. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

RCI Bank
E-Volve 14 Day Notice Account RCI Bank
Min deposit £1000
Term 14 Day Notice
Interest AER 4.80%

Why we like it: All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Which? Recommended Savings Provider. Unlimited withdrawals subject to 14 days notice. Must be UK resident. Must be aged 18 or older. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

Investec Savings
90 Day Notice Account Investec Savings
Min deposit £5000
Term 90 Day Notice
Interest AER 5.25%

Why we like it: Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must be aged 18 or older and have a UK address. Must have a linked UK current account

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 9 Months
Interest AER 5.05%

Why we like it: 9 month term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 1 Year
Interest AER 5.11%

Why we like it: 1 year term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 18 Months
Interest AER 4.65%

Why we like it: Minimum deposit £1,000 - No withdrawals permitted - FSCS Protected

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 2 Years
Interest AER 5.05%

Why we like it: MARKET LEADING 2 YEAR FIXED RATE BOND. Which? Recommended Savings Provider. Save from £1,000 to £250,000. No withdrawals before the end of the term. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 3 Years
Interest AER 4.70%

Why we like it: MARKET LEADING 3 YEAR FIXED RATE BOND. Which? Recommended Savings Provider. Save from £1,000 to £250,000. No withdrawals before the end of the term. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

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The Best Current Accounts for Cashback

A number of current accounts offer cashback, ongoing rewards, or a mixture of the two as an incentive to get you to switch.

Cashback can be either a cash sum (often in the £100s) or equivalent for switching, or a percentage (up to 5%) of various household bills or other spending (e.g. contactless), paid to you ongoing.

Some of these are packaged and so have a monthly account fee, some do not.

There are also other offers such as fee-free overdrafts.

All the accounts we list adhere to the Current Account Switch Guarantee and offer a 7 Day Switch service. Switching has never been simpler... 

Current Account Switch Offers

First Direct

First Direct are currently offering £100 cash for switching to them. They do not pay any interest on your money held by them, but as a reward they will pay you £100 for joining them.

They will also pay you a £100 if you leave them in the event that you are not satisfied with their customer service. Both are subject to terms. You can also benefit from an interest free overdraft up to £250, which is currently the highest in the market.

TSB Classic Plus Current Account

TSB are also currently offering a cashback reward by giving 5% interest on the first £100 of contactless payments which you make every month for a year.

Apart from this incentive, TSB offers a great deal on its Classic Plus current account. This account has one of the lowest minimum monthly pay-ins at £500 per month, which makes it suitable for anyone who finds it difficult to meet the minimum payments of some other accounts.

They also offer a high rate of interest on balances up to £2,000. Interest is paid monthly and to earn it you simply pay in the minimum per month, register for Internet Banking, request paperless statements and paperless correspondence.

HSBC

If you are looking for your account to work a bit harder then HSBC’s Advance or Premier accounts could be for you. HSBC are currently offering the following rewards:

  1. Open and switch to one of these accounts and you will get £150
  2. Stay for a year, you will get a further £50 bonus
  3. You will also get a 0% overdraft for six months when you open the account, though the limit you get is credit score dependent

However, the account has a high minimum monthly pay-in of £1,750 a month, so it is important to consider whether you will be able to meet this before opting for it.

Halifax

£100 extra, paid in to your account before your switch is complete. Most accounts with cash incentives will make you wait up to a few months before paying the money into your account.

If you’re able to pay £750 or more in to your account, pay out at least two different Direct Debits and stay in credit each month, you could earn £5 each month with their Reward Current Account.

If in any month you miss out on the £3 reward, you can still have it in future months too, when you are able to meet the qualifying requirements.

Combine this option with the Switch Reward and you could earn £136 in a year. This is one of the few accounts that pay both a switching bonus and an ongoing reward.

Co-operative Bank

The Co-op are currently offering a joining reward of a free £150 and up to £5.50 per month. As incentives go, this one of the better ones around at the moment.

New customers must:

  • Complete a full switch to The Co-operative Bank using the Current Account Switch Service
  • Switch at least four active Direct Debits. 

To obtain the reward, you have to switch your current account in 7 days with the Current Account Switch Service. Your salary, as well as Direct Debits, standing orders and bill payments will be automatically transferred and payments into and out of your old account will be redirected.

To receive the extra £5.50 per month with the Everyday Rewards scheme you must meet certain criteria every month. However, if you hold the account for a year you can earn up to £216. 

To get the monthly rewards of £4, first you must:

  • Sign up to Everyday Rewards
  • Pay in £800 per month
  • Pay four Direct Debits,
  • Use online or mobile banking,
  • Stay within your overdraft limit and receive paperless statements 

If you meet all the criteria above, then you'll also get 5p per debit card transaction as part of Everyday Rewards, up to a maximum of £1.50 per month.

Marks and Spencer

Currently offering some of the best Switch Rewards on the market, the Marks and Spencer current account is an attractive option. Particularly if you usually shop in their stores or online. The two incentives are:

  1. A £100 Marks and Spencer gift card when you switch to their service.
  2. A further £10 every month for 12 months as long as you meet their requirements.
  3. You will have access to a monthly savers account which helps you to save at a 5% high interest rate.

This totals at a potential £220 free. To obtain the reward your switch must include two active Direct Debits; this will successfully earn you the £100. Following that, you should pay a minimum of £1000 in to your new current account and two Direct Debits must remain active. 




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