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.

By 2016 I was already £2,300 better off through taking advantage of these offers, and that figure’s got even higher since. 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.

The best bank switching and joining offers

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.

• Marks and Spencer Bank – £125 gift card, £5 gift card credit a month for a year, 5% regular savings account
• First Direct – switching gift such as Amazon Echo Spot or £150 Expedia voucher, 5% regular savings account
• RBS – £100 switching – even for existing customers (ends 9th July), 2% cashback on bills after fee
• HSBC – No bonus at the moment, 5% regular saver
• Halifax – £75 switching bonus and £3 a month “reward”

Other offers

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

• Nationwide – 5% interest for one year, 5% regular saver, £100 each if a friend refers you (requires full switch)
• Natwest – 2% cashback on bills after fee
• TSB – 5% interest, up to £10 a month cashback
• Lloyds –  2% interest (reduces to 1.5% in July), free cinema tickets
• Santander – 1.5% interest and up to 3% cashback on bills after fee
• Co-Op – Earn up to £5.50 a month extra
• Barclays – Earn up to £4 a month (after fee)
• Tesco – 3% interest
• Bank of Scotland – 2% interest on savings (reduces to 1.5% in July)
• Yorkshire and Clydesdale – no offer since 2017

** 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**

---

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

You get

• £125 M&S gift card for switching
• £5 gift card top up a month for one year
• Access to a 5% Regular Savings account
• £100 0% overdraft

Requirements

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

>> Switch to M&S Bank

---

*Halifax switching offer*

I’d wait until a £100 or £125 offer comes around before switching to Halifax.

You get

• £75 cash bonus
• £3 a month reward
• Occasional cashback deals
• £50 0% overdraft

Requirements

• You need to pay in £750 a month
• You need to have two active Direct Debits and stay in credit
• You have to switch from and close your old account for the £75

>> Switch to Halifax Reward Account

---

*First Direct switching offer*

There’s usually an increased bonus of £125 to switch three or four times a year.

You get

• Choose a freebie including £150 Expedia voucher, Amazon Echo Spot, Bose wireless headphone and Fitbit Charge 2
• Access to a 5% Regular Savings account
• £250 0% overdraft
• An extra £100 if you leave within twelve months but after 6 months

Requirements

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

>> Switch to First Direct direct and get a free gift

Back to top

---

*HBSC Advance current account offer*

HSBC often run a switching deal for £150 now and another £50 if you stay for a year.

You get

• No switching bonus at the moment
• Access to 5% Regular Saver

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
• Access to 5% regular saver
• £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

• 5% interest on balances up to £1,500
• £5 cashback if you have two direct debits (until Dec 2018)
• £5 contactless cashback if you use debit card 20 times a month (until Dec 2018)
• Access to 1% cashback credit card (until June 2018)

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

• 2% on balances up to £5,000 (falls to 1.5% in July 2018)
• 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

>> Switch to Club Lloyds Current Account

Back to top

---

*Natwest Reward current account offer*

So far in 2018 Natwest has offered a switching bonus on two occassions.

You get

• 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

>> Switch to Natwest Rewards Current Account

Back to top

---

*RBS Reward current account offer*

You get

• £100 switching bonus for new and existing customers. However you can’t get it if you’ve previously had teh Natwest switching bonus (offer ends 9th July)
• 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

>> 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

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 3% on each one.

You get

• 3% 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

Is it any good? See my Is the Tesco current account any good? blogpost

>> Switch to Tesco Bank Current Account

Back to top

---

*Barclays Blue Rewards offer*

You get

• £7 a month reward
• 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 £3 a month fee

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

>> Switch to Barclays Bank Current Account

Back to top

---

*Bank Of Scotland*

You get

•  2% on balances up to 5%, dropping to 1.5% on 1st July 2018

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

 

---