How to switch your bank account

Why switch bank accounts?

Not all banks are the same, and some offer far higher interest rates and lower overdraft fees than others, not to mention better customer service.

Better still, the Current Account Switch Service means that your new provider does most of the admin for you.

Here, we reveal the banks offering the biggest incentives to switchers and the pitfalls to look out for.

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Best bank account switching bonuses  

We don't recommend switching just because a bank is offering short-term perks – we think you should focus on interest rates, overdraft charges and its Which? customer score.

But if you're already looking to move, it's worth seeing what incentives are on offer.

Note: Accounts with particularly high fees are likely to be packaged accounts, which include benefits such as travel insurance. Find our scores for them here.

Bank switching offer reviews

Lloyds - £200 (Club) or £500 (Premier)

From 24 February to 30 April 2026, you can you can earn a switching bonus when you move your everyday banking to Lloyds via the Current Account Switch Service (CASS).

To qualify for the £200 Club Lloyds switch offer you'll need to transfer three active direct debits and spend £100 on your debit card within 35 days of opening your account.

For the £500 Lloyds Premier switch offer you'll need to transfer 3 active direct debits and spend £200 on your debit card within 35 days of opening your account. You must also pay in £5,000 (or hold £100,000 in qualifying investments with Lloyds).

The cash credit will be paid into your account within 45 to 90 working days of the switch completing.

The Club Lloyds account (£5 monthly fee) offers fee free debit card spending abroad and a choice of a Lifestyle Benefit, such as 12 months Disney Plus or six cinema tickets.

The Club Lloyds Silver (£16.50 per month) and Platinum (£27.50 per month) accounts have all the same benefits as Club Lloyds plus travel, car breakdown, and mobile insurance coverage.

The Lloyds Premier account (£15 per month) includes Bupa Digital Family GP, 1% cashback up to £10 each month, exclusive mortgage and savings rates, and an annual Lifestyle Benefit.

The £5 Club Lloyds monthly fee for Club/Silver/Platinum are waived if you pay in £2,000 per month. (For Silver and Platinum, you will still pay the remaining insurance/benefit premium of £11.50 or £22.50). The full £15 monthly Premier fee is waived if you pay in £5,000 per month or hold £100,000 in qualifying investments.

You can't take part in the offer if you switch from a Halifax or Bank of Scotland current account, or if you've received a switching offer from Lloyds, Halifax, or Bank of Scotland since 1 January 2023. 

You can still be eligible for the offer as an existing Lloyds customer, but you must open a new qualifying account (see table above) and switch from an account held elsewhere.

Danske Bank - £200

Switch to a Danske Choice, Freedom, or Reward account and get £200, starting from from 26 January 2026.

Within 60 days of opening your new account, you must complete a full switch using the Current Account Switch Service, transfer at least £1,000 into your new account, and register and log on to eBanking. You'll also need to transfer 2 direct debits from your old account - or set up 2 new direct debits on your new account. 

Once you've completed these steps you'll receive £200 into your new account within 10 working days.

For a £2 monthly fee, the Reward account gives you £5 back each month when you pay in at least £1,000, make eight card payments, and opt for digital statements

There's no monthly account fee for the Choice and Freedom accounts. The Freedom account also includes offers fee-free payments abroad, discounted arrangement fees for a residential mortgage, and an optional interest-free overdraft of up to £3,000.

You won't be eligible for this offer if you're an existing Danske Bank current account holder on 26 January, or if you've already received a switch offer from Danske Bank before.

The offer is limited to one payment per customer, For joint accounts, a singe payment will be made between both account holders.

Santander - £200

Switch to an Everyday, Edge, Edge Up or Edge Explorer current account and receive £200, starting from 10 November 2025.

To get the £200 bonus you must use the Current Account Switch Service and transfer at least £1,500 and two direct debits. Your switch must complete within 60 days of your initial switch request. 

The bonus will be paid into your new account after 90 days after your request to switch.

The Everyday account is a free basic current account, while the higher tiers carry monthly fees of £5 and £17 in exchange for benefits.

For £3 a month, the Edge account offers up to £10 cashback monthly, alongside access to the Santander Edge saver account, which currently provides a 6% variable interest rate on balances up to £4,000.

This offer is available to both new and existing customers. To qualify for the incentive, the account you are switching from must be held with a bank outside of the Santander Group (i.e., not Santander, Cahoot, or Cater Allen). You also won't be eligible if you have previously received a switch incentive payment from Santander, or if you held a Santander current account on or after 1 January 2025.

The Co-operative Bank - £175

To mark International Woman's Day, the Co-operative bank is working with the charity Refuge (the UK’s largest specialist domestic abuse charity).Throughout March, for every four customer switches, the Bank will donate to the charity to help fund its work supporting survivors.

From 28 January 2026, you can get £100 when you switch to a Co-operative Bank account, plus £25 a month for up to three months.

There are three ways to request a switch within the offer period and be eligible for the bonus:

1. Switch as part of an application for a new standard Current Account.
2. Apply for a new standard Current Account or Everyday Extra account and complete The Co-operative Bank's online switch form within two weeks of opening.
3. If you already have a Co-operative Bank standard Current Account, Privilege Premier, Current Account Plus or Everyday Extra account you can switch an account held with another bank by completing The Co-operative Bank's online switch form.

To get the first £100, you'll need to transfer 2 direct debits, deposit £1,000, make 10  or more card transactions, and register for online banking services or mobile app - all by the 30th day after your switch completes. 

To get the £25 a month for three months you'll need to continue to actively use your current account each month by depositing £1,000, making 10 card or digital wallet transactions and have 2 or more active direct debits. 

Your three months begin on the day after you receive your £100 switch incentive. For example, if you get the £100 on the 14 March your months will be:

• Month 1: 15 March - 14 April
• Month 2: 15 April - 14 May
• Month 3: 15 May - 14 June

You must use the Current Account Switch Service and switch a main, personal use current account. You won't be eligible for this offer if you have received a switch bonus from the Co-operative Bank since 1 November 2022. 

Nationwide Building Society - £175

Switch to a FlexAccount, FlexDirect or FlexPlus (a packaged account) and receive £175 starting from 18 September 2025.

To receive the £175 bonus, you must use the Current Account Switch Service and transfer at least £1,000 and two direct debits. Your switch must complete within 28 days of opening your Nationwide account. 

Within 31 days of opening your account, you'll also need to make one debit card payment. This includes Contactless, Apple Pay and recurring payments -- but note that gambling and crypto transactions, taking out cash, and money transfers will not count.

The bonus will be paid into your new account within a 10 days of the switch completing.

You can switch to one of Nationwide's three main current accounts. The FlexDirect account offers 5% AER interest on balances up to £1,500 and 1% cashback on debit card spending for the first 12 months. The everyday FlexAccount offers a no-fee option with both online and in-branch banking. For £18 per month, the FlexPlus account provides a packaged deal with benefits like worldwide family travel insurance, mobile phone insurance, and UK and European breakdown cover.

You won't be eligible for this offer if you've previously received a switching offer from Nationwide since 2021.

• Nationwide is a Which? Recommended Provider for current accounts. 

First Direct - £175

To qualify for the switching bonus, you must use the Current Account Switch Service and move across at least two direct debits or standing orders. You must also deposit £1,000 or more into your account, make at least five debit card payments and log on to online banking within 45 days. 

The £175 will be credited to your account on the 20th of the month after you meet the switching criteria. 

This account also includes a £250 interest-free overdraft (subject to status) and gives you access to the Regular Saver Account, which offers 7% fixed AER for 12 months on deposits between £25 and £300 per month. Interest is added at the end of the year, and depositing the full £3,600 will earn you £136.50.

You're not eligible for this offer if you've previously held any First Direct financial product or if you opened a HSBC current account on or after 1 January 2018.

• First Direct is a Which? Recommended Provider for current accounts. 

How do I switch bank accounts?

There are plenty of reasons to switch bank accounts, as our video explains:

Most banks have agreed to use the new switching service, which means it should take just seven working days to switch you over from your old account once the new account is opened.

If you want to check which banks and building societies are participating, you can search by name here on the Current Account Switch Service (CASS) website.

The switching service is largely automated. The step-by-step process below details exactly what happens.

Step 1: find your new bank account

If you don't yet have an account in mind, you can skip to our advice on choosing the best current account below.

Step 2: apply for your chosen account

When you apply to the new provider, it will undertake its normal account-opening procedures.

Banks and building societies have to comply with strict money-laundering rules, so when you open an account you'll be asked to provide two separate documents for proof of identity and proof of address.

You'll then need to complete a Current Account Switch Agreement form and a Current Account Closure Instruction form provided by your new bank or building society.

Step 3: know your rights

Your new bank or building society will confirm whether it's using the Current Account Switching Service, which is backed by the Current Account Switch Guarantee.

This guarantee means that it will correct any problems with payments as a result of the switching process.

Step 4: choose a switch date

You'll be able to agree a convenient switch date for you with the new bank or building society.

It can't be a Saturday, Sunday or a bank holiday, and must be at least seven working days after your account has been opened.

Once this date has been agreed, your new bank will provide confirmation that the switch has begun and will be completed on the agreed switch date.

You'll continue using your old current account up until the agreed switching date, although don't set up new payments such as direct debits and standing orders during the seven working days leading up to your agreed switch date.

Your new provider will contact you if there are any issues during this period.

Step 5: start using your new account

On the switch date, your new bank or building society will be responsible for moving your incoming and outgoing payments and transferring any money to your new account before closing the old account and sending confirmation that the process is complete.

More on switching bank account

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