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

HSBC - £220

Get £220 if you switch to an HSBC UK Bank Account starting from 15 June 2026.

To qualify, you must open a new account through the mobile banking app and within 60 days complete a full switch using the Current Account Switch Service. You cannot be eligible for the offer if you open the account via other channels such as Branch or Telephone Banking.

You'll also need to transfer two direct debits, deposit £2,000 into your new account, and spend £500 on your HSBC debit card.

The account is fee-free and offers access to a range of savings accounts, retail offers, and the HSBC Global Money Account which allows you to convert, spend and send multiple currencies with no fees.

You are ineligible if you are an existing HSBC UK or First Direct customer or if you have opened an HSBC UK or First Direct current account on or after 1 January 2023.

Co-operative Bank - £200

From 6 July 2026, you can you can earn £200 when you move your everyday banking to The Co-operative Bank via the Current Account Switch Service (CASS).

To qualify for the first £125, you'll need to deposit £1,500 and transfer two active direct debits. You'll also need to make five debit card payments within 30 days of following the switch completion date.

After receiving the £125 switch bonus, you can get up to three monthly payments of £25, provided that you continue to deposit £1,500 each month, make five debit card payments and still have two active direct debits. 

The Current Account is designed for day-to-day banking with no monthly fee and offers 0% currency conversion fees and access to exclusive savings accounts.

The Everyday Extra Account is a packaged bank account with a £12 monthly fee. The account comes with all the features of the Current Account, plus travel, mobile, and car breakdown insurance.

You can't take part in the offer if you you've received a switching offer from The Co-operative Bank since 1 November 2022. 

NatWest and RBS - £200

Switch to a NatWest or Royal Bank of Scotland (RBS) Select or Reward account and receive £200 starting 6 May February 2026.

To receive the £200 bonus, you must use the Current Account Switch Service to move a current account (not held with NatWest, RBS, or Ulster Bank) to your new account. Within 60 days of the switch completing, you'll need to pay in at least £1,250 into the account and log into the NatWest mobile app.

The bonus will be paid into your new account within 30 days.

The Select account is a free everyday bank account. The Reward account has a £2 monthly fee and you'll need to pay in £1,250 every month. The account pays £4 a month in cashback when you have at least two direct debits of £2 or more, plus an extra £1 a month for logging into the mobile app. You can earn more rewards when you spend at partner retailers and you can exchange rewards into cash, e-gift codes, or donate to charity.

You won’t be eligible if you previously received a switching incentive from NatWest Group, including NatWest, RBS or Ulster Bank. You also can’t switch from another NatWest Group bank.

First Direct - £175

First Direct is currently offering a £175 switch offer.

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.

Nationwide - £175

Switch to a FlexAccount, FlexDirect or FlexPlus (a packaged account) and receive £175 starting from 21 May 2026.

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 held a Nationwide current account or received a switching offer from Nationwide since 2021.

• Nationwide 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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