Banking deals

Santander 123 Mini current account: £50 welcome offer

Santander has launched a welcome offer for its 123 Mini Current Account. It offers 13 to 17 year olds a £50 welcome offer for opening a new account and depositing £50 within the first month.

To get it, you need to:

• Open a new Santander 123 Mini current account on or after 1 September 2026
• Deposit at least £50 within 31 days of opening the account
• Still hold the account when Santander makes the payment

You can’t have held a 123 Mini current account or 123 Santander Mini in trust account since 1 September 2026 and you need to be a UK resident aged 13 to 17 years old at the time the account is opened.

If you satisfy all of the above, you’ll get your payment within 60 days of the end of the first month after opening the account.

Monzo: get an additional £50 for moving your salary

Monzo is notifying its customers that if they get their salary paid into Monzo, it will send them £50.

To qualify you’ll need two monthly salary payments between £300 and £20,000, paid over two consecutive months.

You can only receive a reward if:

• Monzo invites you to take part in this incentive (they’ll let you know via email, push notification and/or the Monzo app);
• You are a UK resident aged 18 or over and hold a Monzo UK Current Account

You will automatically receive your reward within 1 day of meeting the above criteria.

You can only receive one reward under this incentive for its entire duration. The start and end dates are specific to the customer.

First Direct: get an additional £50 cashback

If you go via TopCashback to sign up for First Direct then you can get £50 in cashback.

If you don’t have a TopCashback account already, you can also get £18 when you first sign up and spend £10 – this offer won’t qualify, so you’d need to spend £10 via TopCashback in addition to get the additional bonus.

Bank switch deals

We’ve listed the top switching deals on our dedicated page, or you can click the links below for individual analysis of the offers.

Cashback for opening an account

There are cashback payments available from Quidco and TopCashback for a handful of accounts. Some have additional terms and conditions attached, while others only require you to open an account. Amounts can vary, but look out for:

• First Direct 1st account: £50
• Santander Edge: £20
• Santander Everyday: £20
• TSB Spend & Save: £20 to £30
• TSB Spend & Save Plus: £40

You can combine these with any switch deals that are running at the same time, and there are occasional bonuses available on top from the cashback sites.

First Direct Perks: Christmas freebies (ended)

Starting 8 December, First Direct customers can get a different freebie or discount every day for 12 days.

If you have a current account, credit card, mortgage or savings account with First Direct you can sign up for free to Perks. Once signed in, click the Christmas Survival Kit box.

The first offer is a £2 Sainsbury’s gift card. Though it says this is for xmas wrapping paper, you can use it on anything you want. There are 5,000 of these vouchers available.

A new offer is released each day.

iFAST: 1.5% cashback on up to £1,500 spent per month (ended)

Until 31 December, you can get 1.5% cashback when you pay with your iFAST Multi-Currency Debit Card. You’ll get cashback on the first £1,500 spent, earning you cashback of £22.50.

This time, you can also earn cashback when you use Google Pay and Apple Pay, but any transactions made with other digital wallets will not qualify. You won’t earn cashback on cash withdrawals, balance transfers, fund transfers, fees, charges, interest or gambling, betting, and cryptocurrency-related transactions.

The offer is available to UK residents who hold an iFAST Multi-Currency Current Account.