As we know from this morning’s switching league table (see our 6am post), banks are constantly competing for customers.
Here are the switching offers currently available…
Barclays
Switching to one of Barclays’ Blue Rewards bank accounts and depositing £2,000 can get you £200.
You need to sign up to the Blue Rewards scheme for £5 a month, which comes with perks such as cashback on spending, enhanced savings rates and an Apple TV+ subscription.
The switch must include at least two active direct debits. See the terms here.
If you have more money to play with, you can get £400 by switching to a premier current account with Barclays and depositing £4,000 within 30 days.
To qualify for premier banking, you need to pay in a gross annual income of at least £75,000 or have a total balance of at least £100,000 in savings with Barclays in eligible investments, or a mix of both.
Details of the premier switch offer are here.
Lloyds
New and existing customers can get £200 by switching to a Club Lloyds accounts.
The basic Club Lloyds account has a £5 fee but this is refunded every month you pay in £2,000 or more.
Like most switches, you need to use the Current Account Switch Service (CASS) to complete the changeover.
You also need to have at least three active direct debits from your old account switched over to Lloyds – any set up after the change will not count.
Read all the T&Cs of the accounts here.
TSB
You can get up to £180 by switching to TSB.
You’ll get £150 for switching to a current account, a new Spend & Save or a Spend & Save Plus account.
To qualify, you need to log into the bank’s app, deposit £1,000 and make five payments with your debit card.
You can earn another £30 in cashback in the first three months if you make 20 or more card payments each month.
You can find the full T&Cs here.
NatWest
Switchers can get £175 when opting for a Select or Reward current account.
You need to pay in £1,250 within 60 days of opening the account, and log in to the mobile app to be eligible for the free cash.
You’ll get the £175 within 30 days of completing those steps.
See the full T&Cs here.
Nationwide
You can get £175 when you switch your main current account to a FlexAccount, FlexDirect or FlexPlus account.
Customers must not have benefited previously from a Nationwide switching offer.
At least two direct debits need to be moved over, a minimum of £1,000 must be paid in and one debit card payment needs to be made within 31 days of the account opening to qualify for the deal.
Read the full T&Cs here.
First Direct
You can get £175 by switching to its 1st Account using CASS.
At least two direct debits or standing orders need to be moved over, a minimum of £1,000 must be paid in within 30 days and you’ll need to log into digital banking, too.
Find the full T&Cs here.