The best bank accounts for switching bonuses 2025

Considering changing banks? We round up the best UK bank switching bonuses.

Banks have long used juicy current account switching bonuses as a way of enticing new customers.

They can be an easy way to boost your bank balance, especially if you're looking to change banks anyway.

What’s more, they often come with other perks like interest-free overdrafts and access to savings accounts with excellent rates.

So, let's run through the top switching bonuses currently available, or you can jump straight in and apply for the account of your choice through Moneysupermarket.

Barclays – £400 cash, Apple TV+ and Major League Soccer Subscription 

At present, Barclays is offering a whopping £400 to new customers who switch to its Premier Current Account. 

Be aware, however, that the qualifying criteria are relatively high, which means this account may not be for everyone.

To be eligible, you'll need to hold a current account with the bank and either pay in a gross annual income of at least £75,000 – or have a total balance of at least £100,000.

If you meet these criteria, you’ll then bag several perks not available to everyday customers, including exclusive savings on bonds, ISAs, and instant access savings.

You’ll also receive access to an Apple TV+ subscription, worth £9.99 per month, which includes a Major League Soccer Season Pass subscription.

Note that this offer expires on 27 November.

Don't have as much to save?

In another market-leading offer, Barclays will pay you £200 if you open a traditional bank account via its app.

To qualify, you'll need to switch from another bank, set up at least two Direct Debits, join the bank's Blue Rewards scheme (£5 monthly fee) and pay in at least £2,000 within 30 days.

Customers will also be eligible for Apple TV+ and Major League Soccer Season Pass perks.

Additionally, you'll receive access to a linked savings account, which pays 4.36% on balances of up to £5,000.

Lloyds – £200 cash

Lloyds is offering a £200 bonus to open a new Club Lloyds, Club Lloyds Silver or Club Lloyds Platinum account.

Note, the Silver and Platinum accounts are fee-paying accounts. 

For up to £27.50 a month (£22.50 if you pay in at least £2,000 a month), the Platinum account offers worldwide travel insurance for those up to the age of 80 and AA family breakdown cover, among other benefits.

With the Silver account, you’ll get European and UK family travel insurance if you're under the age of 65, mobile phone insurance and AA breakdown family cover.

The monthly fee is £16.50 (£11.50 if you pay in at least £2,000 per month).

The standard Club Lloyds account is free if you pay in a minimum of £2,000 per month. Otherwise, a £5 monthly fee applies.

You’ll also bag a ‘lifestyle benefit’ of your choice every year, including six cinema tickets, an annual digital Coffee Club or Gourmet Society membership, an annual magazine subscription, or 12 months of Disney+.

The bank also pays 1.5% in-credit interest on balances up to £3,999.99 and 3% for balances between £4,000 and £5,000, as well as allowing you to earn up to 15% cashback.

First Direct – £175 cash

If good customer service is important to you, then it's worth checking out First Direct. The online bank regularly tops customer satisfaction polls and is currently offering a hefty £175 bung to anyone who switches to its 1st Account. 

The 1^st Account offers a free £250 overdraft limit and access to First Direct’s 7% Regular Saver account (fixed for 12 months).

To qualify, you'll need to switch your account using the Current Account Switch Service, pay in at least £1,000 and make a minimum of five debit card payments in the first 45 days of account opening.

You should get your £175 by the 20th of the following month after you've completed all of the above, but you won’t be eligible if you’ve previously had an account with First Direct or with HSBC since 1 January 2018.

Bag yourself a top switching bonus now by switching through Moneysupermarket

TSB  – £150 upfront, £30 cashback, plus tech prizes

TSB has relaunched its switching offer, giving new and existing customers the chance to earn up to £180 in cash, as well as winning a big-brand tech bundle.

To qualify, you'll need to open a Spend & Save or Spend & Save Plus current account, then complete a full switch using the Current Account Switching Service. 

To receive the £150 bonus, you’ll need to log into the TSB app, deposit £1,000, and make five debit card payments by 9 December. You should receive the cash within 28 days once you've met all these conditions.

On top of that, TSB is offering up to £30 cashback – £10 a month for three months – if you make at least 20 debit card transactions after receiving your bonus.

Note that this is on top of the bank's usual £5 per month cashback offer.

The bank also offers a monthly prize draw running until December and open to all TSB current account holders who opt in and make five debit card payments in a month.

On top of this, three winners will bag a 'tech bundle', including a 75-inch LG 4K smart TV, Nintendo Switch 2 and iPad, while 50 runners-up will receive £300 Red Letter day vouchers for spa days, theatre trips and more.

NatWest – £175 cash

With the NatWest Reward account, you'll receive a free £175 bonus.

You'll also get access to the bank's digital Regular Saver, which pays 5.5% on balances up to £5,000.

On top of this, you can receive up to £5 a month cashback.

Note, you won't be eligible for the cashback if you held an existing NatWest, Ulster or RBS account as of 16 September or have previously qualified for a switching bonus.

To qualify, you’ll need to pay in at least £1,250 within 60 days. Be aware, the account carries a £2 monthly fee..

Nationwide – £175 cash

Nationwide is currently offering new customers a £175 welcome bonus.

To qualify, you’ll need to open a FlexDirect or FlexPlus packaged account.

As well as the £175 welcome bonus, you’ll qualify for 5% AER on up to £1,500 and 1% cashback for 12 months (up to £5 per month).

To receive the cashback, you'll need to open your account online, switch from a different bank and set up at least two Direct Debits within 28 days.

The FlexPlus account has an £18 monthly fee, which includes benefits such as mobile phone insurance and breakdown cover.

Co-op: free £100 upfront, plus £75 for using the account

The Co-operative Bank currently offers up to £175 in cash incentives alongside access to a linked Regular Saver paying 7% variable interest.

New customers who complete a full switch receive £100 within seven days of meeting the eligibility rules. 

To qualify, you’ll need to deposit at least £1,000, set up two Direct Debits, register for online or mobile banking, and make 10 debit card transactions within 30 days of the switch completing.

Once that’s done, you can earn an extra £25 a month for three months by continuing to meet the same monthly requirements. Together that adds up to £175 in switching bonuses.

Likewise, the linked Regular Saver pays 7% on deposits of up to £250 a month for 12 months.

You can open either the fee-free Current Account or the Everyday Extra, which costs £18 a month but comes with added insurance perks.

A quick warning on bank switching

Before we jump in, be warned: while the incentives are great, you need to ensure the account you're switching to meets your specific financial needs or you could end up significantly out of pocket.

For example, if you're constantly in the red and the account has no interest-free overdraft, you could quickly rack up hundreds of pounds in interest and charges.

If you're unsure of all the different types of bank accounts available to you, our complete guide to current accounts will help you choose the one that's best suited to your needs.