Best bank account switching deals July 2025

Barclays and TSB are the latest banks to launch cash switching incentives – but not all deals involve moving your current account. 

The Co-operative Bank is also running a new 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.

Latest bank account switching incentives

• Co-operative Bank: Free insurance perks for three months 
• TSB: £100 + £90 in cashback
• Barclays: £175
• Lloyds Bank: £185
• NatWest: £125 + £50
• Santander: £180
• First Direct: £175

Co-operative Bank: Free insurance perks and breakdown cover

This isn’t a switching offer as there’s no cash bonus, but new and existing Co-operative Bank customers can get three months of packaged account benefits for free when they open or upgrade to an Everyday Extra account.

The account usually costs £18 a month and includes worldwide family travel insurance, mobile phone insurance, and UK & European breakdown cover.

How to get this deal: Open or upgrade to an Everyday Extra account through The Co-operative Bank. You’ll initially pay the £18 monthly fee, but it will be refunded during the first three months of account use.

What's in the small print? There’s no minimum monthly pay-in required. If you open a joint account, both account holders can use the benefits. After the trial ends, the £18 monthly fee kicks in 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When the deal ends: The offer is running for a limited time and could be withdrawn at any point.

• Find out more: best packaged bank accounts 2025

 TSB: £100

TSB is offering new customers £100 to switch to one of its Spend and Save current accounts. It's also offering the chance to earn up to £90 cashback and up to £120 worth of rewards. 

The Spend and Save account is free. You can usually earn up to £5 cashback a month for the first six months when you make 20 debit card payments each month. But as part of the switching offer, you can earn triple the amount of cashback up to a maximum of £90.

The Spend and Save Plus current account has all the same perks as the basic version, but it has a £3 monthly fee, meaning you’d spend £36 a year. It allows you to earn £5 cashback every month without the six-month limit when you make 20 debit transactions each month. You'll also earn triple the rate of cashback for the first six months as part of the switch deal.

Customers who have switched and made 20 debit card payments in February 2025 can then choose between two rewards. 

The first option is a £120 voucher for a hotel of their choice, either abroad in the UK when booking through Travel Credits. The second treat is 12 months of free activity tickets for attractions around the UK, including theme parks, museums, mini golf, kayaking and escape rooms. 

Whichever reward you pick, you'll have to wait until March 2026 to receive it.

How to get £100 plus £90 cashback: You'll need to switch to TSB using the Current Account Switch Service (CASS), and it will need to be completed before 22 September. You will also have to log in to the TSB mobile app and make at least five payments using your new debit card.

Once you've done this, you'll be paid the £100 bonus between 6 and 12 October. 

To qualify for cashback, you'll need to make 20 or more debit card payments each month for six months. The additional cashback will be paid in a separate instalment, which may appear on a different date. 

What’s in the small print?: You won't be eligible for the deal if you've received a switch incentive since 1 October 2022.

Is TSB a good provider?: TSB came joint 17th out of 20 providers in our annual survey of the best bank and bank accounts, with a customer score of 68%. 

It achieved average scores for its service in branch, telephone and online banking services. It received just two stars for its customer service in general, but four stars for its mobile banking app. 

When the deal ends: There’s no end date to this deal, but it can be withdrawn at any point.

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Barclays: £175

Barclays is offering £175 to new customers who switch to a Barclays Bank Account or Premier Current Account.

The Barclays Bank Account is a standard everyday account with no monthly fee. The Premier Current Account has no monthly fee and includes additional benefits, but is only available to those who meet higher-income or savings requirements.

How to get £175: Open a new account through the Barclays app and complete a full switch using the Current Account Switch Service (CASS), including at least two active direct debits. You’ll also need to pay in at least £1,500 within 30 days of opening the account.

To qualify with the Barclays Bank Account, you must also join Blue Rewards, which costs £5 a month.

Blue Rewards offers monthly cashback, including up to 15% at selected retailers and Barclays’ highest easy-access savings rate through the Rainy Day Saver. Customers also get extras such as an Apple TV+ subscription and other seasonal offers. 

The bonus will be paid within 28 working days of meeting these conditions.

What’s in the small print?: You won’t qualify if you already have a Barclays current account, have previously received a Barclays switch bonus, are switching to a joint account or don’t meet the eligibility criteria for Blue Rewards or Premier. 

You must apply and switch through the Barclays app.

Is Barclays a good provider?: Barclays achieved a satisfaction score of 72% in our most recent survey of the best banks, leaving it joint 12th out of 20 providers. It scored four stars for both its mobile and online banking services, and three stars for its customer service in-branch, contacting customer services and its telephone banking service. 

In our recent online banking security analysis,  Barclays ranked 4th out of 11 providers, achieving 78%. 

When the deal ends: The offer runs until 28 August 2025 but can be withdrawn at any time.

• Find out more: best bank and bank accounts 2025

 Lloyds Bank: £185

Lloyds is offering £185 to new and existing customers who switch to a Club Lloyds 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 comes with 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.

How to get £185: You'll need to use the 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 £185 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 £185 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 7th 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 7th out of 11 providers, achieving 69%. 

When the deal ends: The deal runs from 1 July to 28 July. 

• Find out more: how to switch your bank account

NatWest: £125 + £50 savings bonus

NatWest is offering a £125 switching incentive to new customers, with the chance to earn an additional £50 by opening a linked savings account.

The offer is available on a range of current accounts, including the fee-free Select account and the Reward account. 

The Reward account has a £2 monthly fee, but allows account holders to earn up to £5 a month back in rewards. This means you'd have a net gain of £36 per year. Rewards consist of a payment of £1 for logging in to the mobile app, and £2 for each of the first two direct debits.

How to get £125: To qualify, you must switch your main current account to NatWest using the CASS. 

You’ll need to pay in at least £1,250 and log in to the mobile app within 60 days. The £125 will be paid within seven days of meeting these conditions.

If you meet the criteria for the £125 bonus, you can also earn £50 by opening a Digital Regular Saver account within the same 60-day window. This savings account pays 5.5% AER interest on balances up to £5,000, and you can save up to £150 a month, earning up to £53.53 in interest in the first year.

What's in the small print?: You won’t be eligible if you already have a NatWest current account, if you're switching from another NatWest Group brand (such as Royal Bank of Scotland or Ulster Bank NI), or if you’ve previously received a switch incentive from NatWest Group.

Is NatWest a good provider?: NatWest achieved a satisfaction score of 75% in our most recent survey of the best banks, leaving it joint 7th out of 20 providers. It scored well for its online banking service and its mobile app, receiving four stars for each. 

However, it only achieved a middling rating of three stars for telephone service, branch service, contacting customer services, and its customer service in general.

In our recent online banking security analysis, NatWest ranked 1st of 11 providers, achieving 87%.

When the deal ends: There's no set end date, but it can be withdrawn at any point. 

Santander: £180

Santander is offering a £180 switching bonus to new and existing customers who move to one of its eligible current accounts. 

The deal is available on the fee-free Everyday Current Account, as well as the Santander Edge and Edge Up accounts. 

The Santander Edge account costs £3 a month and currently offers up to £20 a month in cashback: 1% on selected household bills (capped at £10), and 1% on supermarket and travel spending using your debit card (also capped at £10). 

Edge Up costs £5 a month and pays the same cashback categories but with higher caps – up to £15 a month on bills and £15 on spending, totalling a potential £30 monthly cashback. 

However, from 9 September 2025, cashback on supermarket and travel spending will be scrapped from both accounts, leaving only the bills cashback in place.

Both Edge and Edge Up also offer fee-free spending abroad.

How to get £180: To claim the bonus, you’ll need to switch to an eligible Santander account using the CASS.

You’ll also need to pay in at least £1,500 (which can be done across multiple payments) and set up at least two active household direct debits within the same timeframe. 

If you meet all the criteria, the £180 will be paid within 90 days of starting the switch.

Existing Santander customers can also qualify, provided they hold an Everyday, Edge, Edge Up account and complete a full CASS switch into it from a current account with another provider.

What's in the small print: You won’t qualify for the offer if you’ve previously received a Santander switch incentive. You’ll also be excluded if you held a Santander, Cahoot or Cater Allen current account at any time on or after 1 January 2025.

Is Santander a good provider?: In our latest survey, Santander scored 73%, placing it 10th out of 20 providers. It achieved four stars for its mobile banking app, and average scores for its service in branch, telephone, online banking service and customer service in general. 

When the deal ends: The deal ends on Wednesday 30 July. 

First Direct: £175

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.

• Find out more: best debit cards to use abroad