Switching your current account takes 7 working days in the UK and is protected by the Current Account Switch Service guarantee — meaning all payments move automatically. Banks compete aggressively for customers with cash bonuses, meaning you can earn real money just for switching.
How the Current Account Switch Service Works
The Current Account Switch Service (CASS) makes switching banks simple and risk-free. The process takes 7 working days, during which your new bank handles everything — moving direct debits, standing orders, and redirecting payments to your old account for 3 years.
- Switch completes in 7 working days
- All direct debits and standing orders moved automatically
- Old account closed, payments redirected for 3 years
- CASS guarantee: any errors must be corrected and fees refunded
- Over 99% success rate
Current Switching Deals (2026)
Bank switching offers change regularly. Check MoneySavingExpert's bank account page for current live deals. Typical conditions include switching with at least 2 direct debits, paying in a minimum monthly amount, and sometimes using a debit card a set number of times.
- First Direct: historically £150-£175 for qualifying switches
- Halifax Reward: monthly reward + occasional switching bonus
- Nationwide: periodic switching offers
- Lloyds: occasional switch incentives
- Check moneysavingexpert.com/banking for current live deals — offers change monthly
Can I switch multiple times to get multiple bonuses?
Yes. Most banks require you haven't held an account with them recently (typically within 12 months). People who bonus-hop between accounts have earned several hundred pounds this way.
Qualifying Conditions to Watch
Every switching deal has conditions. Missing one often means losing the entire bonus. Read the terms carefully and set calendar reminders.
- Must use CASS — not just opening a new account online
- Minimum active direct debits (usually 2)
- Minimum monthly pay-in (£500-£1,500 typically)
- Deadline for meeting conditions (usually 30-60 days)
- Some require debit card purchases within a period
- Some exclude existing or recent customers (12-month gap)
Ongoing Account Rewards Beyond Switching
Beyond the one-off switch bonus, some accounts offer ongoing monthly rewards. Factor in ongoing value, not just the upfront bonus.
- Nationwide FlexPlus: £13.50/month fee, includes travel/phone/breakdown insurance
- Barclays Blue Rewards: cashback on bills for £5/month fee
- Chase UK: 1% cashback on spending (no fee)
- First Direct: access to linked Regular Saver at 7% interest
- Santander Edge: 1% cashback on bills and spending for £3/month
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