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Compare Latest Current Account Switching Deals

NatWest
Select Current Account Natwest
Open With £0
Account Type Current Account
Features £100 to Switch and Another £50 to Stay

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. To get the £100, use the Current Account Switch Service to close your account held elsewhere and switch by 5pm on 2nd December 2021. Then pay in at least £1,500 in total and log into Online or Mobile Banking by 13th January 2022. To get a further £50 you have to make at least 10 eligible debit or credit transactions each month between 1st January 2022 and 30th September 2022. Offer T&Cs apply. Account eligibility criteria apply. Apply online only

NatWest
Reward Current Account Natwest
Open With £1250
Account Type Current Account
Features £100 to Switch and Another £50 to Stay

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, or earn £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. To get the £100, use the Current Account Switch Service to close your account held elsewhere and switch by 5pm on 2nd December 2021. Then pay in at least £1,500 in total and log into Online or Mobile Banking by 13th January 2022. To get a further £50 you have to make at least 10 eligible debit or credit transactions each month between 1st January 2022 and 30th September 2022. Offer T&Cs apply. Account eligibility criteria apply. Apply online only

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.

First Direct
1st Account First Direct
Open With £1
Account Type Current Account
Features Get £100 when you Switch

Why we like it: SPECIAL OFFER - £100 for SWITCHING to a First Direct 1st Account. Access to Regular Saver Account paying 1.00% AER/Gross fixed for 12 months if saving between £25 and £300 a month (up to £3,600 per year). £250 interest-free overdraft (subject to status). No minimum monthly funding and no monthly account fee. Mobile banking app. UK based contact centre. To qualify, switch using the Current Account Switch Service, deposit £1000 within 3 months of account opening. New customers only that have not opened a HSBC account on or after 1 Jan 2018

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. Offer ends 31st October 2021

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

The Best Current Accounts for Switch Incentives

If you are looking to move your current account to a different provider, there are various factors to consider when making your choice. Issues like what interest rate you will pay on your overdraft and earn on your savings will be important, but for many switching incentives are a key decider.

Many providers now make current account switch offers, which include cash when you change accounts and cashback for things like having Direct Debits coming out of your account or paying household bills from the account. These benefits can swiftly add up and make a real difference to which account offers the best deal for you.

Between the various switching bonuses and cashback offers available on some of the most popular current accounts, it is possible for savvy switchers to earn £100 or more when they change account. The follow accounts will earn you at least £100 for opening a bank account either upfront or within the first year the account is open.

NatWest Reward Current Account - £100 to switch and another £50 if you stay with them

Open NatWest’s Reward Account and you will receive £100 cash bonus if you 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

NatWest Select Current Account - £100 to switch and another £50 if you stay with them

NatWest’s Select Current Account has a similar offer to their Reward Account if you switch. Pay in at least £1,500 and log in to Mobile Banking app or Online Banking by the 30th of December 2021 to receive £100 joining bonus  cashback if you switch. 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.

Santander Everyday Current Account - £130 cashback switching bonus

The Santander Everyday Current Account offers an incentive of £130 cashback for switching. You will need to switch your existing account to Santander using the Current Account Switch Service and log into Online or Mobile banking. You will also have to pay in at least £1,000 and set up at least 2 direct debits.

First Direct 1st Account - £100 cash switching bonus

First Direct 1st Account offer a £100 incentive for switching to their 1st Account. You will need to switch your everyday banking to First Direct using the Current Account Switch Service, and you will have to pay in at least £1,000 during the first three months you hold the account.

HSBC Advance Current Account - £110 cash switching bonus

Open the HSBC Advance Account and you will receive £110 cash plus a £30 Uber Eats Voucher as a joining bonus. You will need to switch your everyday banking to HSBC using the Current Account Switch Service and set up at least 2 direct debits. You will also have to pay in at least £1,750 per month, or £10,500 within six months during the first three months you hold the account.

Santander 123 Current Account - £130 cashback switching bonus

Santander's 123 Current Account has an offer of £130 cashback if you switch. Again, you will need to switch your existing account to Santander using the Current Account Switch Service and initially pay in at least £1,000. You will also have to set up at least 2 direct debits log into Online or Mobile banking.

Santander 123 Lite Account - £130 cashback switching bonus

Santander's 123 Lite Account offers an incentive of £130 cashback for switching. You will need to switch your existing account to Santander using the Current Account Switch Service and log into Online or Mobile banking. You will also have to pay in at least £1,000 and set up at least 2 direct debits.

Is it worth opening a new bank account for a good switching offer?

When thinking about opening a new bank account, switching offers can be a good deciding factor, but it is also important to think about your long term needs. For example a Santander 1|2|3 Current Account offers interest of 0.30% AER on your entire balance up to £20,000, plus cashback of between 1-3% on a range of household bills.

This may not be the most attractive offer upfront, but it means if you are likely to keep a large balance in your account and pay a number of household bills out of your account, the interest and cashback you earn can soon add up and outweigh most switching offers.

It is therefore a good idea to think about exactly what you need from a current account and how you are likely to use it before making a decision about opening a new bank account. This can help to ensure you get the most out of your account on an ongoing basis.

Find the best bank accounts to switch to

Whatever your reasons for opening a new bank account, it is a good idea to spend some time researching your various options before making the switch. Check out the range of current accounts on offer from across the market to see which offers the best deal for you.

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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