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Best bank account switching deals May 2026
We round up the best deals for getting a cash bonus or other perks, with up to £200 available for some customers
Grace is Money editor at Which?, on the hunt for ways to help people save with smart tips and deals. She was named personal finance journalist of the year 2025.
If you’re thinking about switching banks, there’s a wave of new cash incentives on offer, with bonuses of up to £200 for opening a current account.
Barclays, NatWest, RBS and Which? Recommended Provider First Direct are all currently paying £200 to eligible switchers, with First Direct recently increasing its long-running bonus from £175.
Which? Recommended Provider Nationwide has also launched a new £175 deal, announced alongside details of this year’s £100 Fairer Share payment for eligible members.
Bank of Scotland has meanwhile launched a new £175 offer that doesn’t require you to pay money into the account or make debit card transactions to qualify.
Read on for a breakdown of the latest current account offers (ordered by newest first), how they compare and their key eligibility rules.
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Latest bank account switching incentives
You can use the links to jump to the offer you are interested in.
Please note that if you're thinking of switching to any of the accounts mentioned in this article, ensure you refer to the T&Cs of the deal to make sure it's right for you.
Nationwide is offering £175 when you switch to one of its eligible current accounts using the Current Account Switch Service (CASS). The deal was announced alongside details of this year’s £100 Fairer Share payment for eligible members.
The deal is available on the FlexDirect, FlexAccount and FlexPlus accounts.
The FlexAccount is Nationwide’s standard everyday current account with no monthly fee.
The FlexDirect account has no monthly fee and offers 1% cashback on debit card spending for the first 12 months, plus interest on balances up to £1,500.
The FlexPlus packaged account costs £18 a month and includes worldwide family travel insurance, mobile phone insurance, UK and European breakdown cover, and fee-free card spending abroad.
How to get £175: You’ll need to switch from a non-Nationwide or non-Virgin Money current account using CASS. Your old account must have at least two active direct debits to transfer across.
You’ll also need to pay in £1,000 and make one debit card payment within 31 days of opening your new account or applying to switch into an existing one. Your switch must complete within 28 days.
Nationwide will pay the £175 within 10 days of you meeting all the conditions.
What’s in the small print? Existing customers can qualify by switching into an eligible Nationwide account they already hold. You can receive Nationwide’s switching incentive a maximum of twice — once on a sole account and once on a joint account. Joint accounts only receive one payment. You won’t qualify if you switch from another Nationwide or Virgin Money account.
When the deal ends: Nationwide says the offer is available for a limited time, but no closing date has been confirmed.
key information
Is Nationwide a good provider? Nationwide is a Which? Recommended Provider (WRP) for 2026. The building society achieved an impressive 84% in our latest customer satisfaction survey, placing it joint-4th out of 22 providers.
Find out more:best banks and bank accounts 2026. See which other banks have been named WRPs this year. Plus, find out what our experts thought of Nationwide in their product analysis and how many stars it scored for its customer service and telephone and mobile banking service.
First Direct is offering £200 to switch to its 1st Account, an extra £25 more than its usual £175 offer.
The account has 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 £200: 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 available only 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.
When the deal ends: To be eligible for £200, you'll need to open the account before 15 July.
key information
Is First Direct a good provider? First Direct was recently named Banking Brand of the Year at the Which? Awards 2026. It consistently ranks among the top providers in our research. The bank achieved an impressive 84% in our latest customer satisfaction survey, placing it joint-4th out of 22 providers. It’s also been named one of our Which? Recommended Providers (WRPs) for 2026.
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 £120,000 FSCS protection limit applies across both brands. If you have accounts with both First Direct and HSBC, ensure that your total deposits across the two accounts are below this threshold to remain fully protected.
Find out more:best banks and bank accounts 2026. See which other banks have been named WRPs this year. Plus, find out what our experts thought of First Direct in their product analysis and how many stars it scored for its customer service and telephone and mobile banking service.
Bank of Scotland is offering £175 when you switch to a new current account using the CASS.
The deal is available on the Classic, Silver and Platinum accounts:
The Classic account has no monthly fee and offers everyday banking features through the Bank of Scotland app, including subscription management and credit score checking.
The Silver account costs £11.50 a month and includes European travel insurance, preferential travel money rates and no Bank of Scotland debit card fees for spending abroad.
The Platinum account costs £22.50 a month and includes all the Silver account benefits, plus AA breakdown cover and worldwide travel insurance.
How to get £175: You’ll need to complete a full switch from another bank using CASS and move at least three active direct debits to your new account.
The £175 reward will be paid within 14 working days of the switch being completed.
What’s in the small print? You won’t qualify if you switch from a Lloyds or Halifax current account, change an existing Bank of Scotland account to another Bank of Scotland account, or if you’ve received a switching incentive from Lloyds Banking Group since 1 January 2023.
When the deal ends: You must open the account and start your switch by 29 June 2026.
key information
Is the Bank of Scotland a good provider? It came 9th out of 22 banks in our latest customer satisfaction survey, with a score of 77%.
Find out more:best banks and bank accounts 2026, and see what our experts thought of Bank of Scotland's range of accounts in their product analysis and how many stars it scored for its customer service, telephone, mobile banking and in-branch service.
NatWest and Royal Bank of Scotland (RBS) are both offering £200 when you switch to a Select or Reward current account using the CASS.
The Select account has no monthly fee and offers standard everyday banking features.
The Reward account costs £2 a month and 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.
How to get £200: You’ll need to open a Select or Reward account and complete a full switch from another bank using CASS.
Within 60 days of the switch completing, you must pay in at least £1,250 and log into the mobile banking app. This can be done during multiple payments, but must be held in the account for at least 24 hours. The £200 will then be paid within 30 days.
What’s in the small print? You won’t qualify 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.
Existing customers can still qualify, provided they didn’t hold the relevant current account as of 6 May 2026. Joint accounts aren’t eligible.
When the deal ends: No end date has been confirmed, but the offer can be withdrawn at any time.
key information
Are NatWest and RBS good providers? NatWest came 15th out of 22 banks in our latest customer satisfaction survey, with a score of 74%. RBS came 16th with a score of 73%.
Find out more:best banks and bank accounts 2026, and see what our experts thought of NatWest's range of accounts in their product analysis and how many stars it scored for its customer service, telephone, mobile banking and in-branch service.
Barclays is offering £200 when you switch to a Barclays current account with Blue Rewards using the CASS.
The account itself has no monthly fee, but to qualify for the switching bonus, you must sign up to Blue Rewards, which costs £5 a month. It offers cashback on certain household bills and spending with partner retailers, access to linked savings accounts and a free Apple TV+ subscription.
How to get £200: You’ll need to open a Barclays current account through the Barclays app, sign up to Blue Rewards and request a full switch using CASS between 10 March and 28 May 2026.
Your switch must include at least two active direct debits, and you’ll need to pay in £2,000 within 30 days of opening the account.
Once you’ve met these conditions, Barclays will pay the £200 reward within 45 working days of you meeting the eligibility requirements.
What’s in the small print? Those who have another Barclays product, such as a credit card, mortgage or savings account, may still qualify if they open a new current account through the app and complete a switch.
You won’t qualify if you already had a Barclays current account open when the offer started on 10 March 2026 or if you’ve previously received a switching incentive from Barclays. Joint accounts aren’t eligible and the switch must be from another bank.
When the deal ends: You must open the account and start your switch by 28 May 2026.
key information
Is Barclays a good provider? It came 11th out of 22 banks in our latest customer satisfaction survey, with a score of 76%.
Find out more:best banks and bank accounts 2026, and see what our experts thought of Barclays' range of accounts in their product analysis and how many stars it scored for its customer service, telephone, mobile banking and in-branch service.
Santander is offering £180 to new and existing customers who switch their main bank account.
The £180 bonus is available when you switch to one of Santander’s eligible accounts – Everyday, Edge, Edge Up, Edge Explorer or Private – using the CASS.
The Everyday account has no monthly fee and offers standard banking features.
The Edge account costs £3 a month and pays 1% cashback (up to £10 a month) on selected household bills.
The Edge Up account costs £5 a month, offering up to £15 a month cashback on bills, plus 2.5% AER (variable) on balances up to £25,000.
The Edge Explorer account costs £10 a month, and includes travel and mobile phone insurance, 24/7 GP access and fee-free debit card spending abroad.
How to get £180: You’ll need to submit a full switch request through the CASS and complete the switch within 90 days.
To qualify, you must pay in at least £1,500 and set up two active direct debits, such as for bills or council tax. The £180 payment will be made within 90 days of meeting these conditions.
What's in the small print? The offer is open to both new customers and people who already hold another Santander product, such as a savings account, mortgage or credit card. However, you must be switching from a current account held with another bank into a new Santander current account.
You won’t qualify if you already hold a Santander, Cahoot or Cater Allen current account, or if you’ve previously received a Santander switch incentive.
When the deal ends: No closing date has been confirmed, but the offer can be withdrawn at any time.
key information
Is Santander a good provider? Santander ranked 19th out of 22 banks in our latest customer satisfaction survey, with a score of 71%.
Find out more:best banks and bank accounts 2026, and see what our experts thought of the Everyday, Edge and Edge Up accounts in their product analysis and how many stars it scored for its customer service, telephone, mobile banking and in-branch service.
