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If you’re looking to boost your balance this September, there are currently three bank switching offers available from the Co-Operative Bank, First Direct and Lloyds Bank.
The Co-operative Bank is also running a parallel promotion, offering three months of free packaged account perks to new and upgrading customers.
Read on for a breakdown of the latest current account offers (ordered by newest first), how they compare and their key eligibility rules.
If you're thinking of switching to any of the accounts mentioned in this article, ensure you refer to the terms and conditions of the deal to make sure it's right for you.
Lloyds is offering £200 to new and existing customers who switch to a Club Lloyds account or Lloyds Premier account.
The deal is available on the Club Lloyds account and its packaged versions, Club Lloyds Silver and Club Lloyds Platinum.
Club Lloyds costs £5 a month (waived if you pay in £2,000) and includes benefits such as cinema tickets, Disney+ or a magazine subscription. You can also open a Club Lloyds Monthly Saver, paying 6.25% AER on savings of £25 to £400 a month.
Club Lloyds Silver (£11.50 monthly fee plus £5 Club Lloyds fee) includes European travel insurance and breakdown cover, while Club Lloyds Platinum (£22.50 a month plus £5 Club Lloyds fee) offers worldwide travel insurance, breakdown cover and mobile phone insurance.
Lloyds Premier is designed for people with higher incomes or assets. To qualify, you’ll need to pay in at least £5,000 a month, or hold £100,000 in savings or investments with Lloyds Banking Group.
How to get £200: You'll need to use the Current Account Switch Service (CASS) to switch from another bank to a new Club Lloyds, Club Lloyds Silver or Club Lloyds Platinum account, including at least three active direct debits.
The £200 will be paid within 10 working days of your switch being completed.
What's in the small print? You won’t qualify if you’ve received a switching bonus from Bank of Scotland, Halifax or Lloyds since April 2020.
Existing Lloyds customers can get the £200 bonus as long as they open a new eligible Club Lloyds account and switch in from an external bank.
Is Lloyds a good provider? Lloyds achieved a satisfaction score of 75% in our most recent survey of the best banks, leaving it joint seventh out of 20 providers. It scored well for its online banking service, with five stars. It got four stars for its mobile app, customer service in-branch, contacting customer services and its application process.
However, it only achieved a middling rating of three stars for its customer service in general and for its telephone banking service.
In our recent online banking security analysis, Lloyds ranked seventh out of 11 providers, achieving 69%.
When the deal ends: There's no end date to the deal, but it can be withdrawn at any point.
The Co-operative Bank is offering £175 when you switch to one of its eligible current accounts. You’ll get £100 once the switch completes, followed by £25 a month for the next three months.
If you choose the Everyday Extra packaged account, you’ll also get three months of free worldwide family travel insurance, mobile phone insurance and UK & European breakdown cover. This account usually costs £18 a month, so the free trial is worth up to £54. Combined, the two offers are worth up to £229.
How to get the £175: You’ll need to switch to a Standard Current Account, Current Account Plus, Privilege, Privilege Premier or Everyday Extra account using the Current Account Switch Service.
Within 30 days of the switch completing, you must pay in at least £1,000, set up two direct debits and make 10 debit card or digital wallet payments. You’ll also need to register for online or mobile banking.
Existing Co-operative Bank customers can also qualify. If you already hold one of the eligible accounts, you can request a full switch from another bank into it while the offer is live.
What's in the small print: You won’t be eligible if you’ve received a Co-operative Bank switch incentive since 1 November 2022.
To keep receiving the £25 monthly top-ups, you’ll need to continue paying in £1,000, maintaining two direct debits and making 10 debit card or wallet payments each month.
After the Everyday Extra free trial, the £18 monthly fee applies unless you cancel or downgrade.
Is Co-operative Bank a good provider? The Co-operative Bank scored 72% in our latest customer satisfaction survey, ranking joint 12th out of 20 providers. It earned three stars across the board for its online banking, telephone banking, mobile app, branch service, customer service in general and contacting customer services.
In our recent online banking security analysis, Co-operative Bank ranked 11th out of 11 providers, achieving a score of 61%.
When the deal ends: There's no end date for the deal, but it can be withdrawn at any point.
Get the best deals, avoid scams, and grow your savings with expert guidance. Save 25% now, only £36.75 for a year.
Join Which? MoneyOffer ends 30 September 2025
First Direct only offers one current account, but it packs a punch.
The 1st Account comes with no monthly fee and offers a £250 interest-free overdraft buffer. However, if you borrow more than £250, you'll pay 39.9% EAR.
It also offers fee-free spending abroad. Before the bank scrapped its fees in 2023, customers used to pay 2.75% to withdraw cash or spend money abroad.
How to get £175: You’ll need to use the CASS to be eligible for the offer, and switch at least two direct debits or standing orders.
Other requirements include depositing a minimum of £1,000 into the account within 30 days of opening, and registering and logging in to digital banking.
What’s in the small print: This deal is only available to new customers who haven’t previously held a First Direct product.
You also won’t be eligible for this deal if you held an HSBC current account on or after 1 January 2018.
Is First Direct a good provider?: First Direct consistently ranks among the top banks, achieving an impressive 83% customer satisfaction score in our latest survey, placing it 1st out of 20 providers. It’s also been named one of our Which? Recommended Providers. First Direct earned the full five stars for its online and mobile banking service and customer service.
In our online banking security review, First Direct ranked joint fifth out of 11 providers, with a score of 74%.
As a division of HSBC, First Direct is covered by the Financial Services Compensation Scheme (FSCS), but it’s important to keep in mind that the £85,000 FSCS protection limit applies across both brands. If you have accounts with both First Direct and HSBC, ensure your total deposits across the two are below this threshold to stay fully protected.
When the deal ends: There’s no end date listed for this deal, but it can be withdrawn at any point.