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.

TSB: £100 upfront, up to £90 cashback + £120 voucher

TSB offers £310 in bonuses and rewards for those opening a Spend & Save or Spend & Save Plus current account.

New customers who complete a full switch to TSB using the Current Account Switch Service can pocket an upfront £100 bonus.

To get it, you’ll need to log into the mobile banking app and make at least five debit card payments before 19 July, 2025.

The money will land in your account between 2 and 16 August.

On top of that, the bank is tripling its usual cashback offer for six months, allowing switchers to earn up to £15 a month – or £90 in total – if they make at least 20 debit card payments per month.

There’s also a sweetener for those who stick with the account.

If you meet the cashback and switching criteria, and make 20 debit card payments in December 2025, you’ll be eligible for a bonus reward in January, 2026.

You can choose between a £120 hotel voucher or a year’s access to activity tickets for hundreds of attractions across the UK.

Be aware, the Spend & Save Plus account carries a £3 monhtly fee, as this includes more generous cashback incentives.

Santander: £180, upfront and 6% easy-access savings

As well as a great cash bung, the bank offers a healthy cashback bonus on its Edge and Edge Up accounts.

For instance, its Edge Up account pays 1% cashback on selected household bills up to £15 a month

While, the Edge account offers a linked savings accounts that pays 6% on up to £4,000 for the first 12 months.

Plus, the Edge debit card doesn't have foreign exchange fee when you spend abroad, so you get the same near-perfect exchange rate as the bank does.

To get the bonus, you'll need to open an account online or in branch. You can also switch in to an existing Santander Edge, Edge Up or Everyday current account, if your account was opened after after 1 January 2025.

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.

Nationwide – £200 (existing members only)

Nationwide is offering a £200 cash bonus to eligible members who switch a current account from another provider.

Be aware, however, the offer is only available to those who held a Nationwide current account, savings product or mortgage as of 31 March, 2025.

The account also offers 1% cashback on eligible spending for 12 months, capped at £5 a month, provided you pay in at least £1,000 per month.

To qualify, you'll need need to set up at least two active Direct Debits and pay in a minimum of £1,000.

If you already received a switching bonus from Nationwide since 18 August 2021, you won’t be eligible.

Alongside the £200 bonus, most new FlexDirect account holders will receive 5% interest on balances up to £1,500 for 12 months. This means a maximum return of £75 if the balance remains at the cap for the full year. After 12 months, the interest rate drops to 1%.

FlexDirect users can also access a linked Regular Saver account paying 6.5% variable interest on deposits of up to £200 a month.

Bag yourself a top switching bonus now by switching through Moneysupermarket

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.