This comparison simply includes all savings accounts.
Switch bank current account and get £100
Why we like it: Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2024. Must be UK resident and be aged 18 or older
Why we like it: Interest paid annually. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must be UK resident and be aged 18 or older
Why we like it: The Home Deposit Saver lets you earn a competitive rate of interest whilst building up the deposit needed for your first or next home. £500 bonus to boost your savings if you receive a residential purchase mortgage offer from Leeds Building Society. Interest paid annually. Open and manage online. FSCS Protected. You can only pay in up to £500 in a single month. Withdrawals are limited to 1 each year. You can deposit up to £30,000 in total. Bonus eligibility criteria apply. Must be UK resident and be aged 18 or older
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.
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)
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)
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
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
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)
Why we like it: The interest rate tracks the Bank of England (BoE) Base Rate. Interest is calculated on the minimum daily balance and applied to the account on the first day of every subsequent month. Open and manage account online. Your eligible deposits are protected up to £85,000 by the Financial Services Compensation Scheme. The maximum deposit you may pay into any one OakNorth Account is £500,000. The maximum amount (excluding the interest) that you will be allowed to hold on deposit with OakNorth Bank across multiple accounts is also £500,000. Unlimited withdrawals, subject to 95 days notice. Available to individuals, aged 18 or over, who are UK residents
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
Why we like it: 9 month term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Compare current account switch offers worth £100 or more
There are a number of reasons to switch your current account to a new bank or building society, including looking for a better interest rate or benefits. Many banks are increasingly using upfront switching bonuses and monthly cashback schemes to incentive customers to move to them.
There are now a number of current account providers who offer £100 or more in switching bonuses and other rewards to new customers. This means it could be worth your while to make the switch, especially if you are not happy with your existing current account.
To help you make a decision, we have selected some of the current accounts offering the most generous terms to new customers. All of the current accounts below will earn you £100 or more in switching bonuses or cashback within the first year.
NatWest Reward Current Account - £200 switching bonus
Open NatWest’s Reward Account and you will receive £200 cash bonus if you pay in pay in £1,250 and log into the NatWest app within 60 days of account switching
NatWest Select Current Account - £200 switching bonus
NatWest’s Select Current Account has a similar offer to their Reward Account if you switch. pay in £1,250 and log into the NatWest app within 60 days of account switching to receive £200 joining bonus.
First Direct 1st Account - £175 cash switching bonus
First Direct 1st Account offer a £175 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 30 days you hold the account, plus register and Log onto digital banking, within 30 days of us opening your first direct 1st Account.
Santander Everyday Current Account - £185 cashback for switching
Switch to the Santander Everyday Current Account and you will receive £185cashback. You have to complete a full switch to a Santander Everyday Current Account within 60 days, set up 2 Direct Debits, pay in £1,500 and log into Online or Mobile Banking.
Santander Edge Current Account - £185 cashback for switching
Santander are offering a £185 cashback incentive to switch to their Edge Current Account. To qualify you must complete a full switch to a Santander Everyday Current Account within 60 days, set up 2 Direct Debits, pay in £1,500 and log into Online or Mobile Banking.
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 1.75% 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.
Things to bear in mind when switching your current account
Although switching offers can be tempting, you also need to think about your long-term needs. For example a Santander 1|2|3 Current Account will give you interest of 1.5%AER on your entire balance up to £20,000. The account also offers from 1-3% cashback on a range of household bills.
This means if you are likely to keep a significant balance in your account at all time, the interest and cash back you earn on this account could outweigh the benefits of a one-off switching offer or the monthly cash back on a different current account.
It is therefore a good idea to compare a wide range of current accounts when choosing which to switch to. That way you can make an informed decision about which current account offers the best match for your requirements, so you get the best possible deal for your day-to-day banking.
