Wiki: Current Account Switching Incentives 💸

Current switching deals:

:bank: Bank :money_with_wings: Incentive :handshake: Existing customers eligible? :receipt: Direct Debits needed? :dollar: Minimum funding? :memo: Notes :spiral_calendar: Ends
NatWest £200 :white_check_mark: No £1,250 Ts&Cs
RBS £200 :white_check_mark: No £1,250 Ts&Cs
Ulster £200 :white_check_mark: No £1,250 Ts&Cs
HSBC £200 :no_entry_sign: :two: or 2 standing orders £1,500 Ts&Cs
first direct £175 :no_entry_sign: No £1,000 Ts&Cs
Lloyds £150 :no_entry_sign: No No :warning: Fees Jul 17
:gem: Co-operative £125 :no_entry_sign: No No Referrer also gets £125 Ts&Cs


Most recent deals by bank:

:bank: Bank :card_file_box: Index :wastebasket: Date Closed
Bank of Scotland No deal for a while
Barclays No deal for a while
Co-operative Up to £250 (referral + referrer) Feb 28, 2023
Halifax £175 Apr 3, 2023
Lloyds £200 Mar 7, 2023
TSB Up to £200 (£125 switch, £75 stay for 5 months Mar 3, 2023

EDIT - I have edited the title to make it clear that the “6” might not currently be true. The list below hasn’t been updated and some could have ended now.

In case you haven’t heard, I thought it would be good to spread the word about the six banks currently offering switch deals. Below is a list of the bank and the amount they are offering. Obviously, go to their website to see their full terms and conditions.

  1. Santander - £130
  2. Nationwide - £100 (or £125 if already a member)
  3. HSBC - £110 and £30 Uber Eats voucher
  4. RBS - £100 plus £50 if you stay for a year.
  5. Lloyds - £100
  6. Virgin Money - “£150” Virgin Experience Day

Re the Nationwide if you aren’t a member click on 1yr triple online saving account first. Wait until you see confirmation you are now a member and then switch.

I’ve just done exactly this :slightly_smiling_face:

Account opened on the 9th and bribe paid on the 10th.


Do I have to put in x amount of money/have DD’s come out?

1 Like

Your old account has to have 2 direct debits for the Nationwide offer.


Damn :frowning: ah well, for my Natwest all I had to do was transfer in 1k for a day to get it

You didn’t have to wait for the switch to complete?

1 Like

Santander is two direct debits on the new qualifying account and a pay in, and 60 to 90 days for the cash.

Lloyd’s has a pay in, to avoid a £3pm fee, for the Club Lloyd’s. 2 DDs if you want the interest.

RBS want a pay in by end of year, for payment in January 2022. Extra £50 if you do 10 transactions pm between Jan and Sep.

At least I think that’s the right order.

Done all of them now. Well, HSBC and Virgin were earlier in the year.


Seems a lot of work and a lot of credit file impact for the £380, probs outweigh the return due to higher interest rates in the future for having poor credit.

Maybe I’m overlooking it :sweat_smile:


At current minimum wage rates, it would take an apprentice more than 88 hours and someone over 23 at least 42 hours to earn that amount (£380). Really, not much work comparatively.

Even if you’re getting £25 an hour, that’s still 15 hours…


Not a lot of work at all.

I don’t use credit, so impact is negligible to me.

You missed my £125 for the nationwide offer, so over £500 will be received for little effort, comparatively, really.


Yeah so the switch completed on the 9th and then the next day paid. I think it says within ten days or something but for me next day. :+1:


The time it takes to CASS online is about five minutes tops. You fill in a basic form and then type in the debit card long number of your current account you are switching from.

You then wait a week and it switches. Nationwide didn’t give me an option of switch date but usually you can pick it.

1 Like

I guess depends on your future goals, not sure how a mortgage broker would see 5 bank accounts opened in the space of 3/4 months.

Banked with nationwide for years in the past, the referral was good for 5 people £100 each, and someone initially referred me so £600 for basically nothing in 1 year.

I don’t plan going for a mortgage soon fyi just feel it’s a little extra for so many.

I’ve had HSBC and closed it since 2018.

Lloyds I have as part of my work contract though never used, don’t even get paid into it :joy:.

Santander I opened and closed last year as the service is rubbish and the app is rubbish.

Nationwide lacks fintech, and their pin pad is a no from me.

Already have NatWest so possibly not eligible.

1 Like

I might have to open one! I am entirely 100% FinTech (Monzo, Starling, Revolut) with a lil bit of :sparkles: Marcus :sparkles:

I don’t think I’ve ever banked with a traditional bank before :thinking: Monzo (or Mondo!) was my first bank account so this will be an experience :sweat_smile:


As I own my home outright, I have no interest in a mortgage brokers opinion tbh :grin:

Don’t do credit. Save first, buy later.


Well, go for it :joy:

I need to learn that lesson :sunglasses:


I have a lifetime mortgage and my credit report in decent shape. The scoring is excellent on the various CRAs. The switching impact is minimal to my circumstances. Loaners don’t care about score either.

I have my monthly spend with Amex and Monzo for rare non-amex.

My legacy which has solely income and DDs can be switched as much as the bribes will allow. Some have time constraints on how often, so it’s not usually more than two a year.


NatWest was mine.

Purely because the company I worked for, at aged 16, were inside NatWest Building :man_shrugging::grin:


Time for another CASS.

Hasn’t quite beaten CASS after six days of being with HSBC but close. :sweat_smile: