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Looking for a fresh start with your banking? Now might be the perfect time to switch, as of today three high street banks are paying a switching bonus. The eligibility criteria for all three are pretty straightforward and similar across the board.

BANK SWITCH

£175 when you switch your current bank account to First Direct

What’s the deal
I covered this First Direct deal way back in July. A tidy £175 is on offer for switching your current account to First Direct.

Steps to be eligible
- You must not have opened an HSBC current account in 2018 or later.
- Apply for a new account and request a switch within 45 days.
- You must have at least two active Direct Debits when switching.
- You must deposit £1,000 in the first month and make 5+ debit card payments.
- You’ll need to log on to digital banking at least once.

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Terms & Conditions

BANK SWITCH

Get £175 when you switch to Nationwide

What’s the deal
Nationwide is stepping up to compete with First Direct, offering a generous £175 bonus for customers who make the switch to them. Just like every other participating bank in the Current Account Switch Service, the process of switching is quick and easy, requiring only a few simple steps to qualify.

Steps to be eligible
- Apply for a FlexPlus, FlexDirect or FlexAccount from Nationwide.
- Request to switch from your existing banking provider to Nationwide within 28 days.
- You must have at least two active Direct Debits when switching.
- You must deposit £1,000 or more within the first 31 days of opening the account.
- Use your debit card at least once.

Good to know
Terms & Conditions

BANK SWITCH

Up to £150 when you switch to Co-operative Bank

What’s the deal
Last but not least is the Co-operative Bank. The £150 comes in a few parts: The first £75 comes from switching your current account to the Co-operative. Then you’ll get £25 a month for the first three months, totalling £150.

Steps to be eligible
- Apply for a new Standard Current Account or Everyday Extra account and request a switch within 2 weeks.
- You must not have switched to the Co-operative Bank since 1 November 2022.
- You must deposit £1,000 or more within the first month and have two active Direct Debits.
- Set up your debit card in a digital wallet (Apple Pay etc) and make 10+ card or digital wallet transactions.
- To be eligible for the following £25/month bonus you’ll need to continue depositing £1,000 per month, maintain at least two Direct Debits and make at least 10 transactions per month.

Good to know
Terms & Conditions

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