According to Current Account Switch Service (CASS) data, more than 12.9 million people have switched their bank account, with over 1 million people switching in 2025 (sourced: September 2026).

One likely factor behind the recent rise in bank switching is the re-emergence of switching deals, following a quieter period for offers in 2024. As of 08 September 2026, several major providers are offering substantial cash rewards for switching, with standard-tier deals generally reaching up to around £220; see below for current details and provider links.

In this article we're going to explore how bank switching works, the range of current bank switch offers, plus we'll explore how it's possible to earn multiple bonuses.

The current account market is fiercely competitive. Not because bank accounts are particularly profitable, but because if you have a current account, your bank can turn on the 'hard sell' and try to flog you one of its credit cards, loans, or even mortgages.

Because banks are eager to grow their customer bases, many offer cash incentives to attract customers who switch to them. So, as long as you don't let yourself get drawn into applying for products you don't need, switching bank accounts can be a way to earn cash.

A check of provider websites on 08 September 2026 found current account switch bonuses across the market generally ranging from around £150 up to £220 for standard accounts, with premium/private banking tiers (which usually require a high income or savings threshold) reaching as high as £500. Beyond the headline cash, many providers add extras such as a linked regular saver, ongoing cashback, or a rewards scheme, though these often come with their own monthly fee or qualifying conditions.

Common requirements include a full switch via the Current Account Switch Service, at least two active Direct Debits, a minimum pay-in (commonly £1,000–£2,000), and sometimes a set number of card payments or an app login — all within a defined window, often 30–60 days. Exclusion periods also apply: most providers won't pay a second bonus if you've received one from any brand in their banking group within the last 2–3 years.

The specific amount, qualifying criteria, and offer deadlines change frequently (sometimes within days) so check the current offer directly with each provider before applying.

Providers that have offered cash incentives to switch in 2026 include:

• HSBC

• NatWest

• Barclays

• First Direct

• Santander

• Nationwide

Terms, conditions and eligibility criteria apply. Please read the details and qualifying criteria in full on the respective websites, as they include complete information and conditions there.

Eligibility conditions vary; most offers are limited to new customers who have not previously held an account with that provider. Always check the full terms on each provider's website before applying.

The Current Account Switch Service

Regardless of the switch offer you go for, in order to secure a bank account switch bonus, pay close attention the terms of any offer.

In addition, you'll also have to complete your switch using the Current Account Switch Service (CASS). This is the official switching service which ensures you won't be out of pocket if your bank makes a mistake when moving your account.

The CASS also ensures any payments, including standing orders and direct debits, are moved over automatically for you. Under the CASS, a switch shouldn't take any longer than 7 working days to complete.

Switching between providers more than once means separately meeting each provider's own eligibility requirements each time — including Direct Debits, minimum deposits, and app or card activity — and managing multiple accounts as a result. Deals can also be withdrawn or changed without notice, including when a provider reaches its recruitment target for a given offer.

Always check the 'exclusion period' in the fine print; most major groups (like Lloyds/Halifax/Bank of Scotland or HSBC/First Direct) will not pay a second bonus if you have received a switching incentive from any brand within their banking group in the last 2–3 years.

Switching more than once means separately meeting each provider's eligibility requirements each time — including Direct Debits, minimum deposits, and any card or app activity conditions — and managing the resulting accounts.

Opening a second account purely for switch bonuses

It's possible to open a separate bank account used only to meet a provider's switching requirements — such as a couple of Direct Debits — while keeping a different account for everyday use. Doing this typically means setting up Direct Debits specifically on the secondary account, since many switch offers require a set number to be moved as part of the switch, which involves ongoing administration to maintain.

If you do this, however, you may have to set up a direct debit or two on your spare account. This is because many switch offers will require you move over a set number of direct debits as part of your switch. Setting up extra Direct Debits on a rarely used account involves some admin, which is a trade-off against the value of the bonus.

So, in summary, when it comes to switching your bank account and earning free cash, here are some key points to keep in mind:

• There are multiple accounts that will pay cash for switching, with amounts and terms varying by provider — see above for current ranges.

• Switch deals come with specific terms that determine whether the bonus is paid, so it's worth checking these in full.

• You must move accounts using the official Current Account Switch Service (CASS) to qualify for free switching cash.

• The CASS guarantees your switch will be complete in 7 working days.

• The CASS also ensures any payments will be moved over for you, and you'll be covered if any mistakes occur as part of your switch.

• Provider eligibility rules, exclusion periods, and administrative requirements apply each time an account is switched.

Bank switch deals change often. For the latest offers, take a look at the 'switching' section in our best bank accounts guide.

Details correct as of 08 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.