ClearScore is a credit broker, not a lender.

Banks compete for new current account customers with switch bonuses, ongoing perks, and interest-bearing balances, using the Current Account Switch Service (CASS) — a free, 7-working-day process that moves your balance, Direct Debits, and standing orders, and automatically closes your old account. Recurring card payments (subscriptions, for example) aren't moved automatically and need updating separately.

Switching Bank Accounts

Switch bonuses typically require a full switch from a different banking group, at least two active Direct Debits, and sometimes a minimum deposit or number of card transactions within a set window — always check the exact requirements before switching, since missing one step can mean losing the bonus entirely.

As of September 2026, switch bonuses across the market generally range from around £175 up to £220, with some providers adding extras such as a linked regular saver or ongoing cashback on top of the headline cash amount. The specific amount, qualifying criteria, and offer end dates change frequently — sometimes within days — so check the current offer directly with each provider before applying.

Providers that regularly offer cash incentives to switch include:

• HSBC

• NatWest

• Barclays

• First Direct

• Santander

• Nationwide

Some providers also offer a higher-tier switching bonus for applicants meeting a higher income or savings threshold (for example, a Premier or private banking tier) — these aren't included in the range above, since they're not available to most applicants.

Banks with Current Account Perks

Chase offers cashback on eligible everyday spending (groceries, transport, and fuel), subject to eligibility conditions and a monthly cap — check current terms at chase.co.uk. Nationwide FlexPlus includes family worldwide travel insurance, mobile phone insurance, and European breakdown cover for a monthly fee.

Current Accounts with Savings Interest

Some current accounts offer a linked savings account paying a rate of interest, typically capped at a set balance, with a lower rate applying above that threshold. Some of these accounts also require a monthly fee or a linked rewards membership. Check current rates directly with the provider, since these change frequently.

Current Accounts with Overdraft Features

Some current accounts include an interest-free overdraft buffer up to a set amount, with a standard borrowing rate applying above that. Always make sure you can afford repayments before using an overdraft facility.

Read more:

• Best Bank Accounts Guide

• Best Rewards Credit Cards

• Best Savings Accounts Guide

• Average Household Savings & Wealth UK

ClearScore is a credit broker, not a lender.

Details correct as of 04 September 2026. Terms, rates and features are subject to change — always verify current details before applying. This article is for general information only and does not constitute financial advice.