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Compare Latest Current Account Switching Deals

Santander
Everyday Current Account Santander
Open With £1
Account Type Current Account
Features £130 Cashback when you Switch

Why we like it: No minimum monthly funding or monthly fee to maintain the account. Earn up to 15% cashback with Retailer Offers. Stress-free account switching in 7 days with the Current Account Switch Service. £300 ATM withdrawal per day, Arranged Overdraft facility (subject to status). Online and Mobile Banking with text and email alerts. Must be 18 or older and live in the UK permanently. 39.94% EAR overdraft charge. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000. £130 cashback when you complete a full switch to a Santander Everyday Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking. T&Cs apply.

HSBC
Advance Current Account HSBC
Open With £1750
Account Type Current Account
Features Get £110 when you Switch

Why we like it: SPECIAL OFFER - Get £110 + £30 Uber Eats voucher or The Dining Out Gift Card when you switch to an HSBC Advance Bank Account. Earn 1.00% AER/gross when you save between £25 and £250 per month. Arranged overdraft limit of at least £1,000 on account opening. Money banking app. No monthly account fee. Easy switching with the Current Account Switch Service. Must be 18 or older and be UK resident. Must pay in £1,750 per month or £10,500 over 6 months. Must be approved for an arranged overdraft of £1,000+. Get the £110 when switching to an HSBC Advance Account as a new customer using the Current Account Switch Service within 30 days of account opening, with at least 2 Direct Debits or standing orders. Eligibility criteria and T&C's apply. Offer may be withdrawn anytime. Offer isn’t available to customers who have held a HSBC current account, or opened a first direct account since 1 January 2018.

Santander
123 Current Account Santander
Open With £500
Account Type Current Account
Features £130 Cashback when you Switch

Why we like it: SPECIAL OFFER - £130 cashback when you switch to a Santander 123 Current Account. Earn 0.30% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% cashback on household bills - 1% on council tax bills, Mobile and home phone bills, broadband and paid-for TV packages, and Santander monthly mortgage payments. 2% on Gas and electricity bills, Santander Home Insurance premiums and Santander Life Insurance premiums, and 3% on water bills. Monthly fee of £4. Cashback capped at £5 for each cashback tier each month. Must pay in £500 pm. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000. £130 cashback when you complete a full switch to a Santander 123 Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking. T&Cs apply.

Santander
123 Lite Current Account Santander
Open With £500
Account Type Current Account
Features £130 Cashback when you Switch

Why we like it: Up to 3% cashback on selected household bills, capped at £5 for each cashback tier each month. Earn up to 15% cashback with Retailer Offers. Easy to manage online or on mobile app. Get access to a range of 123 offers. Arranged Overdraft facility (subject to status) - 39.94% APR / EAR (variable). Must be 18 or older and UK resident. Customers must pay a minimum of £500 into account each month, have 2 active Direct Debits, log onto Online or Mobile Banking at least once every 3 months. Must not currently hold 2 Reward accounts. £2 monthly fee. £130 cashback when you complete a full switch to a Santander 1|2|3 Lite Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking. T&Cs apply

Royal Bank of Scotland
Reward Current Account Royal Bank of Scotland
Open With £1250
Account Type Current Account
Features Up to £150 to Switch

Why we like it: Earn £4 a month back in Rewards by making a minimum of 2 direct debit payments of at least £2 each. Plus earn an extra £1 a month in rewards with 1 mobile app login. Earn Rewards that you can redeem as cash back, gift cards or e-codes with our retail partners. Great money management tools with our mobile banking app. ‘Criteria Apply’. Arranged overdraft available (subject to eligibility). Multiple ways to pay: Apple Pay, Google Pay™ and Contactless Visa Debit. Must be 18 or older and UK resident. Customers need to pay at least £1,250 into any eligible personal current account every month (excludes transfers between your own accounts). Must not currently hold 2 Reward accounts. £2 monthly fee. Representative example: If you use an arranged overdraft of £1,200 you’ll be charged interest at 39.49% EAR variable. Switch by 18th November 2021 to get an initial £100 and pay in at least £1,500 and log in to Mobile Banking app or Online Banking by the 30th of December 2021. Get a further £50 if you make 10 eligible credit and/or debit transactions on your Current Account each calendar month (e.g. bill payments, debit card spend, direct debits and payments in and out) between January & September 2022

Royal Bank of Scotland
Select Current Account Royal Bank of Scotland
Open With £0
Account Type Current Account
Features Up to £150 to Switch

Why we like it: Fee Free Account. An everyday current account. Great money management tools with our mobile banking app. ‘Criteria Apply’. Multiple ways to pay: Apple Pay, Google Pay™ and Contactless Visa Debit Card. Limits apply. Arranged overdraft available (subject to eligibility). No monthly fee. Defaqto 5* rated. Must be 18 or older and UK resident. Representative example: If you use an arranged overdraft of £1,200 you’ll be charged interest at 39.49% EAR variable. Switch by 18th November 2021 to get an initial £100 and pay in at least £1,500 and log in to Mobile Banking app or Online Banking by the 30th of December 2021. Get a further £50 if you make 10 eligible credit and/or debit transactions on your Current Account each calendar month (e.g. bill payments, debit card spend, direct debits and payments in and out) between January & September 2022

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. 

Latest news

Top 3 picks for current accounts in 2021

Over 5.1 million UK bank and building society customers have switched their bank accounts using the free (and guaranteed) current account switching service which simplifies the process for customers. Read More »

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