This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Cookie Policy. Read more

Compare Latest Current Account Switching Deals

Yorkshire Bank
Signature Current Account Yorkshire Bank
Open With £1
Account Type Current Account
Features Shopping discounts plus insurance cover

Why we like it: Discounts available when you shop at certain major high street stores and supermarkets, as well as some holidays, cinema, concert tickets and events. All year round family travel insurance, UK breakdown cover, mobile phone and gadget insurance

Clydesdale Bank
Signature Current Account Clydesdale Bank
Open With £1
Account Type Current Account
Features Shopping discounts plus insurance cover

Why we like it: All year round travel insurance , UK breakdown cover, mobile phone and gadget insurance, and certain discounts available to account holders for some major stores and supermarkets, cinema tickets, holidays, events and concerts.

B
Current and Savings Account B
Open With £1
Account Type Current Account
Interest AER 0.5%

Why we like it: INNOVATIVE NEW BANKING SERVICE powered by Clydesdale and Yorkshire Banks. Get your current account and instant access savings account working together. Earn 0.50% AER on ALL instant access credit balances and 0.25% AER on current account balances up to £2,000. Fee free

Santander
123 Current Account Santander
Open With £1000
Account Type Current Account
Interest AER 1.50%

Why we like it: BEST SELLING CASHBACK CURRENT ACCOUNT. Earn 3.00% AER (variable) interest on balances from £3,000 up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Must pay in £500 pm.

First Direct
Current Account First Direct
Open With £1
Account Type Current Account
Features FREE £250 Overdraft £100 For Switching

Why we like it: £100 for switching into account. £250 interest free overdraft. Free banking if paying over £1,000 per month. £100 if not satisfied after 6 months

NatWest
Reward Account Natwest
Open With £1
Account Type Current Account
Features 3% in Rewards

Why we like it: Top 20% of Reward Customers earn on average £217 - You can earn Rewards on Direct Debits from your current account for: • Council tax • Gas, electricity and water supply • Home and mobile phone, TV package and broadband fees

Disclaimer: To apply for this account you must be aged 18 or over. UK resident. Not been declared bankrupt in last 6 years.

Barclays
Bank Account Barclays
Open With £1
Account Type Current Account
Features Earn rewards of up to £180

Why we like it: Earn rewards of up to £180 a year when you bank with Barclays - Get an annual loyalty reward of £84 plus £60 on your Barclays residential mortgage and £36 on your Barclays home and contents insurance. Start earning rewards with a monthly £3 fee based on £800 paid into your account and 2 direct debits paid out every month

The Best Current Accounts for Cashback and Rewards

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 if 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 so is well-suited to 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 and register for Internet Banking, 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 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 in to your account.

If you’re able to pay £750 or more in to your account, pay out at least 2 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 £5 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 £160 in a year. This is one of the few accounts that pay both a switching bonus and an ongoing reward.

However, from February 2017 the monthly reward will be cut from £5 to £3 per month.

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 4 active Direct Debits. 

To obtain the reward, you have to switch your current account in 7 days with the 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

Are you getting 10% on your savings?

In these low interest times getting a decent rate of return on your cash is not easy. Surprisingly some of the best interest rates are available via current accounts.

Newsletter signup

Sign up to our Newsletter to get exclusive news and offers direct to your inbox.

Let's get social now! Twitter Facebook

About us

Simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Ltd.

We've been comparing savings and current accounts for many years so you can trust you're in good hands.