Compare every UK bank switching bonus available in 2026. Ranked by value, qualifying criteria, and overall account quality — find the best offer for your situation.
Was this article helpful?
Get £50 when you open a bank and open your account within 2 weeks receive
If you're looking to earn some easy money, switching your bank account is one of the simplest ways to do it. UK banks regularly offer cash bonuses of £75 to £200 just for moving your current account to them via the Current Account Switch Service.
We've compared every major switching offer currently available, ranking them by bonus amount, how easy the qualifying criteria are, and the overall quality of the account you'll end up with.
| Bank | Bonus | Min Pay-in | Key Perk |
|---|---|---|---|
| HSBC UK | Up to £200 | £1,500/month | Highest cash bonus |
| First Direct | £175 | £1,000/month | Best customer service |
| Nationwide | £175 + 5% interest | £1,000/month | Best combined value |
| Santander | Up to £175 | £1,500/month | Ongoing cashback |
| NatWest | £150 | £1,250/month | Solid all-rounder |
| Chase UK |
£50
You earn
£10
You earn
Up to £20
You earn
| 1% cashback for 12 months |
| None |
| Best for spenders |
Bonus: £175
First Direct has been one of the most consistent switching bonus providers in the UK for years, and their current offer remains one of the best.
How to qualify:
What makes it stand out:
Our verdict: The combination of a generous bonus and genuinely excellent account makes First Direct our top pick. The £1,000 pay-in requirement is easy to meet with just one month's salary.
Bonus: up to £200 (varies by account type)
HSBC UK periodically offers some of the highest switching bonuses on the market, though the amount depends on which account you choose.
How to qualify:
What makes it stand out:
Our verdict: The higher pay-in requirement suits people with a regular salary being paid in. If you meet the threshold, the bonus is hard to beat.
Bonus: £175
Nationwide is a building society rather than a bank, meaning it's owned by its members rather than shareholders. Their switching offer is competitive and comes with a genuinely good account.
How to qualify:
What makes it stand out:
Our verdict: The combination of £175 cash plus 5% interest makes this arguably the most valuable overall package. The interest alone could add another £75 over the first year — making the effective bonus closer to £250.
Bonus: £150
NatWest offers a solid switching bonus with relatively straightforward qualifying conditions.
How to qualify:
What makes it stand out:
Our verdict: A dependable option with reasonable qualifying criteria. Note: the exclusion covers RBS and Ulster Bank accounts — if you hold any of those you won't qualify.
Bonus: 1% cashback (no traditional switch bonus)
Chase UK takes a different approach. Rather than a one-off switching payment, they offer ongoing cashback on all your spending.
How to qualify:
What makes it stand out:
Our verdict: Spending £1,000/month earns £120 in the first year. For higher spenders, this beats every one-off bonus on the list.
Bonus: up to £175 (varies by account)
Santander offers switching bonuses that vary depending on which current account you choose.
How to qualify:
What makes it stand out:
Our verdict: The £1,500 pay-in is a higher bar, but the ongoing cashback means the account keeps rewarding you well after the bonus lands.
There's nothing stopping you from switching banks multiple times throughout the year. A sensible approach:
By working through the major banks systematically, it's realistic to earn £500 to £700 in a single year purely from switching bonuses.
Biggest guaranteed payout: HSBC UK's up to £200 leads the pack if you can meet the £1,500 monthly pay-in.
Best overall package: Nationwide's £175 plus 5% interest is arguably the most valuable total offer in 2026.
Best customer service: First Direct's £175 bonus comes with consistently award-winning support.
Best for high spenders: Chase UK's 1% cashback could earn more than any one-off bonus over 12 months.
Best for ongoing rewards: Santander's Edge account with bill cashback keeps paying after the bonus clears.
Switching takes about 15 minutes to set up and 7 working days to complete. The process is CASS-guaranteed, meaning your payments, direct debits, and standing orders transfer automatically.
If you've never switched before, read our step-by-step guide to switching banks with CASS first. Already know the process? Pick your preferred offer and get started — that free cash won't claim itself.
There's no legal limit. Most banks require you haven't held an account with them in the past 12–36 months, so you can cycle through multiple banks in a year. Many people earn £500+ annually this way.
Switching itself doesn't affect your credit score. However, if the new bank runs a hard credit check during the application, it may leave a small, temporary mark. Most switching accounts only do a soft check.
The Current Account Switch Service guarantees the switch completes within 7 working days. Your old direct debits, standing orders, and payments transfer automatically.
CASS guarantees that any payments sent to your old account are automatically redirected for at least 3 years after switching. You won't miss a payment.
Not if you use CASS — the service closes your old account as part of the process. If you want to keep it open, you'd need to set up the new account manually without using CASS (but you'd lose the bonus in most cases).
HMRC generally treats cash bonuses from bank switching as interest or savings income. If your total savings interest exceeds your Personal Savings Allowance (£1,000 for basic rate taxpayers in 2026), you may owe tax on it. It's worth checking with a tax adviser if you're earning significant amounts.
It depends on your salary and spending. For most UK savers, Nationwide's £175 plus 5% interest makes the best overall package. For higher earners who can meet the pay-in, HSBC's up to £200 is the highest cash bonus available.
