Move to a Bank of Scotland current account to get the free cash before June 29 to get the deal
Band of Scotland, part of the Lloyds Banking Group, has announced a new switch incentive for people moving to three of its accounts.
This latest offer is worth £175, with the money paid within 10 working days of making the switch. Here’s who can get it and how.
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How much can you get for switching to the Bank of Scotland?
This new offer is for £175 for those who switch to Classic, Silver and Platinum accounts. It runs from 19 May 2026 until 29 June 2026, as long as it isn’t pulled earlier. This will be the last day you can both open a new account and start the switch.
The payment will be made within 10 working days of completing the switch if you meet all the conditions.
Which accounts are eligible?
This time, there are three switch offers available. Here are the accounts you can open for each of them.
Classic – £175 switch offer
You can get the £175 offer for switching to the Classic Bank of Scotland account.
This offers free everyday banking and money management in the app with a 24/7 messaging service, subscriptions management, credit score checking, opening savings accounts and more.
Customers can also use the bank’s Everyday Offers, providing cashback at select retailers.
Silver – £175 switch offer
This account offers the same as the Classic account, but adds European travel insurance, preferential travel money rates and no debit card fees from Bank of Scotland when spending abroad.
There is a cost though, with the extra benefits coming with a £11.50 a month fee.
Platinum – £175 switch offer
This account upgrades your travel insurance to worldwide, as well as including AAC breakdown cover along with all the benefits of the Silver Account.
It also upgrades the monthly fee to £22.50.
What are the requirements for the Bank of Scotland switching offer?
To get the switching bonus for any of the three accounts you need to:
- Complete a full switch using the Current Account Switch Service
- Switch from an account held with another bank
- Transfer at least three active Direct Debits
You also can’t switch from Lloyds, Halifax or Bank of Scotland accounts. Here’s more on how to switch banks. You can start the switch online, in a branch or over the phone.
When does the Bank of Scotland bank switch offer end?
The offer ends 29 June 2026, though it could finish earlier if the bank decides to. This is the last date to start the switch
Bank of Scotland switch offer summary
| Switching bonus | £175 |
| Open to existing customers | Yes |
| Requirements | Switch into a new Classic, Silver or Platinum account |
| Switch using the Current Account Switch Service and close your old account | |
| Switch three active direct debits from the old account | |
| The old account must be from a different bank | |
| Exclusions | Offer limited to once per person |
| You’ve been paid a switching bonus since 1 January 2023 for switching to any Lloyds, Bank of Scotland or Halifax Bank account | |
| Bonus paid | Within 10 working days of opening the account |
| Offer ends | 29 June 2026 |
How new Bank of Scotland customers can get the bonus
If you don’t already have a Bank of Scotland current account, you’ll need to open up one of the eligible accounts as listed above and switch from a different bank. You’ll need to meet the other criteria listed above.
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Which Bank of Scotland account should I choose?
For most people, the standard Classic account is the best option. You won’t pay anything, and you’ll also get access to Save the change – which rounds up spending to the nearest pound and drops it into a savings account for you – as well as cashback at certain retailers and the option to exclusive savings rates via Vantage.
If you need travel insurance and breakdown cover, then the other accounts might be worth looking at. The Silver account is cheaper at £11.50 a month as it offers European cover only, which might work out a decent deal if you’re not going further away.
However, for worldwide cover and breakdown cover, as offered by the Platinum account, I’d look at cheaper packaged bank accounts instead. And of course, you might not need all the insurance policies, in which case it can be better to buy them on their own.
What customers think
The Bank of Scotland Classic account has a 3.95-star rating out of 5. You can read more about what they like and what they don’t on our sister site Smart Money People.
Is it worth switching to Bank of Scotland?
James’ analysis
This is a really easy switching offer to get. It’s not the highest one offered, with at least one other bank offering £25 more at £200, but it’s still pretty decent. The Classic account is strong on the basics, but lacking the frills of other free everyday banking accounts – such as free use abroad or an interest-free overdraft buffer – but that doesn’t make it bad.
The paid for Silver and Platinum accounts are, to me, not worth the benefits. There are better packaged accounts and you might be able to pick up similar benefits for less money by sourcing them independently. However, if your circumstances are different they could work out for you – just make sure you’re getting value before committing to a monthly fee.
Overall, if you’re looking for a switching offer, and don’t qualify for the higher payers, then this looks like a really solid option – especially if you value branch access and have one near you.
Is it the best switching offer?
Deals come and go throughout the year, so it’s always worth checking to see if a better-paying option is out there. You can read more about the latest switching offers here.
