UK bank switching offers: bonuses and how to qualify

A bank switch bonus rewards an eligible move from another current account. Opening a new account alone usually is not enough. Most offers require a full Current Account Switch Service (CASS) switch, which closes the account you move from.

Below are selected offers advertised on bank websites when checked on 18 October 2026. This is a dated comparison, not a complete market ranking or a promise of acceptance. Offers can change or close before a published deadline. Read the bank’s current terms before applying.

Bank switch bonuses at a glance

Bank	Advertised switch reward	Main qualifying actions	Deadline or timing
first direct	£175; bank also advertises a £35 boost	£1,000 pay-in, 5 debit-card payments, 2 Direct Debits or standing orders, digital banking	Complete core requirements within 45 days of opening
HSBC Bank Account	£220	App application, £2,000 pay-in, £500 debit-card spend, 2 Direct Debits	Within 60 days of opening
NatWest	£200	Full switch, £1,250 pay-in held for 24 hours, app login	Pay-in and login within 60 days of switching
Club Lloyds	£200	New eligible account, transfer 3 active Direct Debits	Open account and start switch by 9 December 2026
Nationwide	£175	2 Direct Debits, £1,000 pay-in, 1 qualifying debit-card payment	Switch completion within 28 days; separate 31-day pay-in/card deadline

These are headline actions, not the full terms. Previous accounts, previous bonuses and the bank you switch from can exclude you. A pay-in is different from required spending: HSBC’s £500 card-spend condition, for example, is additional to its £2,000 pay-in.

first direct switch offer

The core reward is £175 for an eligible new 1st Account customer. Within 45 days of opening, complete a CASS switch with at least two Direct Debits or standing orders, pay in £1,000, make at least five debit-card payments and use digital banking.

You cannot previously have held a first direct product, or have opened an HSBC current account on or after 1 January 2018. The core reward is paid by the 20th of the month following the month you meet the criteria.

The bank also advertises £35 extra for accounts opened between 14 September and 2 December 2026. Its linked core-offer PDF describes £175; we could not establish the separate boost’s full qualification and payout rules from that document. Confirm those with first direct before counting on £210. Do not treat the extra £35 as unconditional.

Check first direct’s offer and full terms.

HSBC Bank Account switch offer

£220, for eligible new customers opening the Bank Account through HSBC’s mobile app. Within 60 days, complete a full CASS switch including two Direct Debits, pay in £2,000 and spend £500 on the debit card. Payment is within 60 days after all qualifying requirements are met.

Existing HSBC UK or first direct customers, and anyone who has held a current account with either since 1 January 2023, are excluded. Basic Bank Accounts and applications through other channels do not qualify. Check which transactions count towards card spending.

Check HSBC’s offer and full terms.

NatWest switch offer

£200 when an eligible customer switches to Select or Reward using CASS. Within 60 days of switching, pay in £1,250 and leave it in the account for at least 24 hours, and log in to the mobile app. The reward is paid within 30 days after qualifying.

You must not have held a NatWest current account on 6 May 2026. Previous NatWest Group cash switch incentives exclude you, as does switching an account from Royal Bank of Scotland or Ulster Bank. Joint-account exclusions apply to everyone named on it.

Select has no monthly account fee. Reward costs £2 a month and has its own ongoing pay-in requirements; the switch bonus does not remove these.

Check NatWest’s offer and full terms.

Lloyds switch offer

£200 for a full switch to a new Club Lloyds, Club Lloyds Silver, Club Lloyds Platinum or Lloyds Premier account. Open the eligible account between 17 September and 9 December 2026 and start the switch by 9 December. Transfer at least three active Direct Debits; ones added after starting the switch do not count.

Switches from Halifax or Bank of Scotland are excluded. You must not have received a Lloyds, Halifax or Bank of Scotland switch incentive since 1 January 2023. Changing an existing Lloyds account type does not qualify.

Club Lloyds costs £5 monthly, refunded in months you pay in at least £2,000. Packaged accounts have additional fees. The offer terms say payment within 14 working days of starting the switch; the page’s FAQ uses slightly different timing wording, so confirm with Lloyds if timing matters.

Check Lloyds’ offer and full terms.

Nationwide switch offer

£175 for an eligible switch to a new or existing FlexDirect, FlexAccount or FlexPlus. Move two Direct Debits from an account outside Nationwide and Virgin Money. Complete the full switch within 28 days. Pay in £1,000 and make one qualifying debit-card payment within 31 days of account opening, or your application to switch into an existing account.

Previous-bonus rules distinguish sole and joint accounts; use the bank’s eligibility checker rather than assuming every previous customer is excluded. Transfers from another Nationwide account and Visa credits do not count towards the £1,000. Cash withdrawals, gambling and certain other transactions do not count as card spending.

FlexDirect and FlexAccount have no monthly fee; FlexPlus costs £18 monthly. Payment is within ten days of meeting all requirements, and the account must remain open for payment.

Check Nationwide’s offer, eligibility checker and full terms.

An expired offer to watch out for

Santander’s £240 Everyday Current Account switch offer ended for new requests on 7 October 2026. It is not included in the current comparison above. Existing applicants may still be completing their requirements or waiting for payment; that does not make the promotion available to new applicants.

Read Santander’s expired-offer conditions.

How does bank switching work?

1. Check eligibility before opening anything. Review previous-account and bonus exclusions, fees, required payments and the application channel.
2. Prepare the account you are moving from. Make sure required Direct Debits are active before starting. Download statements you need and check any linked benefits you would lose.
3. Open the eligible destination account. Account approval and the switch are separate processes. Ask for a full CASS switch through the new bank; do not manually close the old account first.
4. Agree a switch date. CASS normally completes the move in seven working days once arranged. The service moves the balance and regular account payments and closes the old account. Account-opening checks can take additional time.
5. Update things that do not move automatically. Recurring debit-card subscriptions, digital wallets and third-party account permissions may need updating. Savings, loans and overdraft arrangements do not simply move with the current account.
6. Complete the bonus requirements and keep proof. Record the opening date, switch date, qualifying payments and expected reward window. Keep the terms until payment arrives.

The switch guarantee covers qualifying switching errors; it does not guarantee that you qualify for a cash bonus. NatWest explains the service and what does not transfer.

How to decide whether switching is worth it

Compare the account you will use after the reward, including branch access, app features, overdraft charges and ongoing fees. An account with a larger headline bonus can be worse value if you pay for features you do not need.

Do not make unnecessary purchases just to meet a debit-card requirement. Plan qualifying everyday spending only if it fits your existing budget. Make sure required pay-ins leave enough money available for your bills.

An account application may involve a credit check. Multiple applications in a short period can affect your credit file, and an old account closing can also affect it. Do not assume the switch guarantee means a new account application has no credit implications.

Common bank switching questions

Do I have to switch my main account?

Not necessarily: check the bank’s terms for the account you intend to move. A secondary account still needs to meet all eligibility and payment requirements. A full switch closes that account, even if you rarely use it.

Are standing orders the same as Direct Debits?

No. first direct’s core offer accepts Direct Debits or standing orders, but other offers listed here specifically require Direct Debits. Card subscriptions are a third payment type and should not be counted as Direct Debits.

Can I get more than one bank switch bonus?

Possibly, but each offer has its own rules. Exclusions can cover related banks and previous bonuses, not just the name on your current account. Do not add the advertised rewards together as money everyone can earn.

Can I switch if I have an overdraft?

Speak to the destination bank before starting. It needs to agree any new borrowing; your existing overdraft is not automatically transferred. If it is not agreed, you need a repayment arrangement for the old balance.

Is a referral reward the same as a switch bonus?

No. A referral can reward an introduction without moving an old account. A switch bonus usually requires CASS and account closure. Read our referral guide and the individual offer terms; do not assume the two rewards can be combined.

What if my bonus does not arrive?

Check your dates and the bank’s qualification rules, then contact the bank with your confirmations. The bank administers the reward; this website cannot approve an application or release a payment.