Select Page
Spread the love

Here are some quick links to help you jump through the deals.

Switching deals

You must switch and close your old account to get the headline bonuses listed below.

  • HSBC – £175 bonus, 
  • RBS –  £150 bonus, 2% cashback on bills after fee (ends 6th December 2019)
  • Natwest –  £150 bonus, 2% cashback on bills after fee (ends 29th November 2019)
  • Lloyds – £125 switching bonus (ends 12th November 2019), up to 2% interest on savings, free magazine subscription or cinema tickets
  • First Direct – £50 switching bonus and another £100 if you leave
  • Marks and Spencer Bank – £100 gift card, another £80 or £120 after one year, 5% regular savings account
  • Barclays – Earn £10 a month for a year (after fee) – Ends 30th November 2019

Free cash deals

  • Monese – £15 free cash when you open an account OR three months free premium (no need to switch)

Referral bonuses

  • TSB – £75 referral bonus, 3% interest
  • Nationwide – £100 each if a friend refers you (requires full switch), 5% interest for one year, 
  • Santander – £50 referral bonus, 1.5% interest and up to 3% cashback on bills after fee

Other offers

You don’t have to switch to get these extras. You can just open a new account.

** All efforts have gone into ensuring the accuracy of these deals, however changes do happen so make sure you read the terms and conditions of the account and any switching offer before applying**

Some articles on the blog contain affiliate links, which provide a small commission to help fund the blog. However, they won’t affect the price you pay or the blog’s independence. Read more here.


Join more than 11,500 other subscribers to get Andy’s newsletter PLUS an exclusive £17 cashback offer if you’re new to Quidco

One of the quickest ways to make some extra cash is to take advantage of the very competitive current account market and get a switching bonus, cashback or high interest on your savings.

If you’ve been with the same bank since your first job or University, you’re probably missing out. Since seven-day switching was introduced in 2013 the banks have been offering free cash, high interest and other extras to get you to move to them.

Just from switching, I made £1,900 in five years – and much more just from opening additional bank accounts. Sadly a raft of banks have cut their high-interest rates in current accounts, but that doesn’t mean you won’t be better off moving your bank account. Here are the best current deals.

I’ll update this page as new offers appear, and every month I’ll remove expired offers – though do check the offer hasn’t changed before you apply. And do remember that you’ll be credit checked when you make an application.

And you can read more about how to switch bank here, or watch the video below


*Monese account opening offer*

You get either

  • £15 for opening an account via the link below and using the code ANDR4552

OR

  • Three months free Premium (worth £44.85) with code GETPREMIUM

Requirements

  • Spend once with your Monese card for the £15 credit

> Open a Monese account

Back to top
 


*Marks and Spencer Bank (M&S Bank) switching offer*

You get

  • £100 M&S gift card for switching
  • £80 gift card after one year (£120 if you have an M&S credit card)
  • Access to a 5% Regular Savings account
  • £100 0% overdraft

Requirements

  • You need to pay in £1,250 a month to get the second gift card
  • You need to switch four active Direct Debits (previously was only two)
  • You have to switch from and close your old account

> Switch to M&S Bank


*Halifax switching offer*

Halifax ended its switching bonus in late June 2019, though it could return.

You get

  • £2 a month reward
  • Occasional cashback deals
  • £50 0% overdraft

Requirements

  • You need to pay in £1,500 a month
  • You need two Direct Debits to get the £2 reward
  • You have to switch from and close your old account for the bonus

> Switch to Halifax Reward Account


*First Direct switching offer*

In 2018 First Direct replaced the cash switching bonus with a choice of freebies, but it brought back the £100 bonus. Occasionally it increases to £125, but it’s now dropped the welcome to just £50.

You get

  • £50 bonus when you switch
  • £100 if you leave after six months
  • £250 0% overdraft
  • An extra £100 if you leave within twelve months but after 6 months
  • Your friend can get £50 if they refer you, though you’d probably only get the standard £50 bonus

Requirements

  • You need to pay in £1,000 a month
  • You have to switch from and close your old account

> Switch to First Direct and get £50

Back to top


*HBSC Advance current account offer*

HSBC often runs a switching deal for £150/£175.

You get

  • £175 bonus

Requirements

  • Two Direct Debits or standing orders need to be switched
  • Activate online banking
  • You must pay in £1,750 every month

> Switch to HSBC Current Account

Back to top


*Nationwide FlexDirect offer*

You get

  • 5% interest on balances up to £2,500 for the first year, 1% after
  • £100 each for referring a friend to switch
  • 0% arranged overdraft for the first year
  • Other accounts are available which offer free mobile and breakdown cover for £10 per month
  • If you have a friend with the account you can both get a £100 bonus (if you know me, just get in touch and I’ll share my code!)

Requirements

  • You need to pay in £1,000 a month to get the interest

> Open a Nationwide FlexDirect Current Account

Back to top


*TSB Classic current account offer*

There’s a £100 or £125 switching bonus a few times a year but none at the moment.

You get

  • £75 bonus if a friend refers you and you switch (they also get £75) – meant to end 31st July 2019 though the website is still sho.
  • 3% interest on balances up to £1,500.

Requirements

  • You need to pay in £500 a month
  • You need to register for internet banking and paperless statements

> Switch to TSB Classic Plus Current Account 

Back to top


*Lloyds Club current account offer*

You get

  • £125 switchiing bonus (extended from 5th November to 12th November 2019)
  • 1% on balances up to £3,999, 2% between £4,000 and £5,000
  • 6 free cinema tickets, an annual Gourmet Society subscription or an annual magazine subscription

Requirements

  • You need to pay in £1,500 a month to avoid a £3 a month fee
  • You need two direct debits to get the interest

> Switch to Club Lloyds Current Account

Back to top


*Natwest Reward current account offer*

In 2018 Natwest offered a switching bonus on three occasions, and it’s returned three times so far in 2019.

You get

  • £150 bonus – ends 6th December 2019
  • 2% cashback on most household bills
  • Limited additional cashback offers (eg Argos)

Requirements

  • You need to pay a £2 a month fee
  • Must pay in £1,500 a month
  • Can’t have received a bonus from RBS

> Switch to Natwest Rewards Current Account

Back to top


*RBS Reward current account offer*

RBS has offered a £150 bonus a few times, so watch this space.

You get

  • £150 switching bonus now – offer ends 29th November 2019.
  • 2% cashback on most household bills
  • Limited additional cashback offers (eg Argos)

Requirements

  • You need to pay a £2 a month fee
  • Must pay in £1,500 a month
  • You have to use your debit card once a month to get the extra £50
  • Can’t have received a bonus from Natwest

> Switch to an RBS Rewards Current Account

Back to top


*Santander 123 current account offer*

You get

  • 1% cashback on Council Tax and water bills, 2% cashback on gas and electricity bills, 3% cashback on mobile, TV, phone and broadband bills.
  • 1.5% interest on balances up to £20,000.
  • Limited additional cashback offers
  • £50 referral bonus for you and whoever refers you

Requirements

  • You need to pay a £5 a month fee
  • You must have 2 direct debits
  • You need to pay in £500 a month
  • Not all companies take part in the bills cashback

Is it any good? See my Should you ditch Santander 123? blogpost. There’s also a Santander 123 Lite which just offers the cashback but no interest for £1 a month.

> Switch to Santander 123 Current Account

Back to top


*Co-operative Bank current account offer*

You get

  • £4 a month credit
  • 5p cashback each time you use your debit card (Max £1.50 a month)

Requirements

  • Pay in £800 a month
  • Stay in credit or your overdraft
  • Use online or app banking once a month
  • Go paperless
  • Have four Direct Debits
  • Close old account

> Open a Co-operative Bank Current Account

Back to top


*Tesco Bank current account offer*

It’s possible to open two accounts and get 1% on each one. 

You get

  • 1% interest on balances up to £3,000
  • 1 Clubcard point per £8 spend (equivalent 0.125%)
  • You can open two

Requirements

  • Pay in £750 a month
  • Have three Direct Debits

> Switch to Tesco Bank Current Account

Back to top


*Barclays Blue Rewards offer*

Barclays occasionally offers double Blue Rewards as a switching incentive so it’s best to wait for one of these to switch.

You get

  • £7 a month Blue Rewards after the fee – doubled if you apply and switch before 30th November 2019
  • Extra if you have a mortgage or home insurance with Barclays
  • Limited cashback

Requirements

  • Pay in £800 a month
  • Pay out two Direct Debits
  • Pay a £4 a month fee 

Is it any good? See my Is the Barclays Blue Reward worth switching for? blog post

> Switch to Barclays Bank Current Account

Back to top


*Bank Of Scotland*

You get

  •  1.5% on balances up to 5%

Requirements

  • Pay in £1,000 a month
  • Pay out two Direct Debits and stay in credit

> Switch to Bank of Scotland

Back to top


*Yorkshire and Clydesdale “B Account” switching offer*

You get

  • No offer

Requirements

  • You need to pay in £1,000 a month for at least two months
  • You need to have two active Direct Debits
  • You have to switch from and close your old account

> Switch to a Yorkshire B Account


*Monzo account opening offer*

You get

  • Nothing

Requirements

> Open a Monzo account

Back to top

 


Spread the love