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Our best bank switch offers

Earn a cash bonus of up to £175* when you switch current accounts

Top banks are offering new customers incentives to switch their current account, and the process has been made simple with the Current Account Switch Service.

Compare current accounts

We compare current accounts from leading providers

*The terms of switching may vary depending on the provider. T&Cs apply.

Last updated
May 17th, 2024

Our best switching offers available

4 results found, sorted by switching incentive.
£175 cash when you switch to a Santander Edge current account. T&Cs apply.

Santander Edge

Overdraft interest rate
39.94%EAR
AER
0.00%
Monthly fee
£3
Switching incentive
£175
Representative example:
If you use an arranged overdraft of £1,200 you will be charged 39.94% APR Representative/EAR variable. Subject to financial status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • Switch incentive available when you use Current Account Switch Service. For £175 cash you'll have to complete a full switch to a Santander Edge current account, set up 2 active Direct Debits and pay in £1,500 within 60 days. T&Cs apply.
  • Limited offer: existing Santander Edge Up current account customers could get £18 when they open a Santander Edge credit card between 21 May and 2 July 2024. T&Cs apply.
  • Get cashback, vouchers, prize draws and other offers personalised to you when you use Santander Boosts. To be eligible for Santander Boosts, you must have a personal Santander debit or credit card, be 18 years or over and be registered for Online and Mobile Banking.
  • Access to Santander Edge Saver with 7.00% AER / 6.78% gross (variable) interest on balances up to £4,000. (includes 2.50% AER / 2.47% gross (variable) bonus rate for the first 12 months from opening.
  • 1% cashback (up to £10 a month) on selected household bills when you pay by Direct Debit.
  • 1% cashback (up to £10 a month) at supermarkets and on travel costs when you use your debit card (exclusions apply).
  • We won't charge you to use your Santander Edge debit card outside the UK – learn more in the ‘Travel’ section.
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Minimum Monthly Credit£500
Permanent UK Resident
£175 cash when you switch to a Santander Edge Up current account. T&Cs apply.

Santander Edge Up

Overdraft interest rate
39.94%EAR
AER
3.50%
Monthly fee
£5
Switching incentive
£175
Representative example:
If you use an arranged overdraft of £1,200 you will be charged 39.94% APR Representative/EAR variable. Subject to financial status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • Switch incentive available when you use Current Account Switch Service. For £175 cash you'll have to complete a full switch to a Santander Edge Up current account, set up 2 active Direct Debits and pay in £1,500 within 60 days. T&Cs apply.
  • Limited offer: existing Santander Edge Up current account customers could get £18 when they open a Santander Edge credit card between 21 May and 2 July 2024. T&Cs apply.
  • 1% cashback (up to £15 a month) at supermarkets and on travel costs when you use your debit card (exclusions apply).
  • You can make international payments with no extra fees (the bank receiving the payment may still apply charges). There’s also no charge for making CHAPS payments from this account.
  • Get cashback, vouchers, prize draws and other offers personalised to you when you use Santander Boosts. To be eligible for Santander Boosts, you must have a personal Santander debit or credit card, be 18 years or over and be registered for Online and Mobile Banking.
  • 1% cashback (up to £15 a month) on selected household bills when you pay by Direct Debit.
  • It’s free to use your Santander Edge Up debit card outside the UK – learn more in the ‘Travel’ section below.
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Minimum Monthly Credit£1,500
Permanent UK Resident
Get up to £160 to Switch & Stay. T&Cs apply

TSB Spend & Save Plus

Overdraft interest rate
39.9%EAR
AER
0.00%
Monthly fee
£3
Switching incentive
£160
Representative example:
£100 interest and fee free overdraft, subject to financial status. If you then use an arranged overdraft of £1,200 you will be charged 39.9% EAR variable. Representative APR: 40.1%. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • Get up to £160 to Switch and Stay. £100 to start a switch before the offer is withdrawn, log into TSB App, make 5 debit card payments. Including up to £60 double cashback (for 6 months), by making 20 debit card payments per month.
  • Plus choose 1 of 3 great rewards in January. Either a night away for two, 2 Odeon cinema tickets each month for 3 months or Now Entertainment Membership for 6 months if you've switched.
  • Not a Switcher? New customers can earn £5 cashback a month up to £60 annually, by making 20 debit card payments per month.
  • Earn 2.92% AER variable interest on your Savings Pots too. Includes a bonus of 1.52% AER for the first year.
  • Access to a Monthly Saver paying 6.00% Gross/AER fixed for a year. Save £25 to £250 per month by standing order from your TSB current account. Interest is paid on maturity.
  • UK residents only, 18+
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident
Get up to £160 to Switch & Stay. T&Cs apply

TSB Spend & Save

Overdraft interest rate
39.9%EAR
AER
0.00%
Monthly fee
No
Switching incentive
£100
Representative example:
If you use an arranged overdraft of £1,200 you will be charged 39.9% APR Representative/EAR variable. Subject to financial status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • Get up to £160 to Switch and Stay. £100 to start a switch before the offer is withdrawn, log into TSB App, make 5 debit card payments. Including up to £60 double cashback (for 6 months), by making 20 debit card payments per month.
  • Plus, you could be eligible to choose 1 of 3 great rewards in January. Either a hotel night away for two, 2 Odeon cinema tickets each month for 3 months or Now Entertainment Membership for 6 months if you've switched and do 20 debit transactions in December.
  • Not a Switcher? New customers can earn £5 a month for 6 months, by making 20 debit card payments per month.
  • Earn 2.92% AER variable interest on your Savings Pots too. Includes a bonus of 1.52% AER for the first year.
  • Access to a Monthly Saver paying 6.00% Gross/AER fixed for a year. Save £25 to £250 per month by standing order from your TSB current account. Interest is paid on maturity.
  • UK residents only, 18+
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident

Our current accounts

9 results found, sorted by popularity.

Chase Current Account

Overdraft interest rate
-
AER
1.00%
Monthly fee
No
Switching incentive
-
Representative example:
N/A - no credit facility offered.
More Information
Additional information
  • 1% cashback on everyday debit card spending. Available for your first 12 months as a new customer. Max £15 per month. Cashback exceptions apply.
  • No fees at home or abroad from Chase.
  • Linked to an instant access saving account (£25,000 daily external transfer limit)
  • Access to round-up account with 5% AER (4.89% gross) variable interest rate, paid monthly. Round-up balance transfers to elected Chase account on anniversary of account opening. T&Cs apply.
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident

Santander Everyday Current Account

Overdraft interest rate
39.94%EAR
AER
0.00%
Monthly fee
No
Switching incentive
-
Representative example:
If you use an arranged overdraft of £1,200 you will be charged 39.94% APR Representative/EAR variable. Subject to financial status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • Get cashback, vouchers, prize draws and other offers personalised to you when you use Santander Boosts. To be eligible for Santander Boosts, you must have a personal Santander debit or credit card, be 18 years or over and be registered for Online and Mobile Banking.
  • It's easy to manage online or on our mobile app.
  • No minimum monthly funding or monthly fee to maintain the account
  • Arranged Overdraft facility (subject to status) - If you use an arranged overdraft you’ll be charged an interest rate of 39.94% APR / EAR (variable)
  • Stress-free account switching in 7 days with the Current Account Switch Service
Eligibility
Maximum AgeUnlimited
Maximum Investment£2,000,000
Minimum Age18 years
Permanent UK Resident
Banking made easy + 4.10% AER (variable) included in Instant Access Savings Pots

Monzo Current Account

Overdraft interest rate
39%EAR
AER
0.00%
Monthly fee
No
Switching incentive
-
Representative example:
If you use an arranged overdraft of £1,200 you will be charged 39% APR Representative/EAR variable. Subject to financial status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • Instant Access Savings Pots 4.10% AER (variable). No minimum deposit & maximum deposit £100k. You must have a Monzo account to get an Instant Access Savings Pots. T&Cs apply.
  • Overdraft limit up to £2000. You must be over 18 to get an arranged overdraft. Credit subject to status. Terms and conditions apply. Monzo Bank Limited Address: Broadwalk House, 5 Appold St, London EC2A 2AG.
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident
Eligibility: £100k income p.a., £100k saved/invested or 500k mortgage borrowings*

NatWest Premier Select Account

Overdraft interest rate
19.49%EAR
AER
0.00%
Monthly fee
No
Switching incentive
-
Representative example:
0% interest (variable) payable on arranged overdrafts up to £500.  If you use an arranged overdraft above this amount the annual rate of interest is 19.49% (variable). 11.4% APR Representative (variable), based on £1,200 overdraft balance. Subject to financial status. How does our overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • Premier Eligibility: 18+, UK resident and meet one of the following criteria £100k income p.a., £100k saved or invested or £500k mortgage borrowings.
  • No foreign transaction fees on purchases abroad (local fees may apply and not available on ATM Withdrawals).
  • Arranged overdraft with up to £500 interest-free (Representative 11.4% APR variable).
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Minimum Income£100,000
Permanent UK Resident

Barclays Bank Account

Overdraft interest rate
35%EAR
AER
0.00%
Monthly fee
No
Switching incentive
-
Representative example:
Assumed arranged overdraft of £1,200: 35.0% EAR (variable), 35.0% APR Representative (variable). Subject to application, financial circumstances and borrowing history. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • Optional arranged overdrafts. Subject to application, financial circumstances and borrowing history.
  • Manage your money with the Barclays app, Online Banking and more. You must be 18 or over to access this product in the app. T&Cs apply.
  • Get more from your everyday banking with Barclays Blue Rewards, with access to enhanced savings rates and cashback on your everyday spend (Eligibility, conditions and a £5 monthly fee apply.)
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident
Exclusive metal card + phone insurance (exclusions apply)

Monzo Max

Overdraft interest rate
39%EAR
AER
0.00%
Monthly fee
£17
Switching incentive
-
Representative example:
If you use an arranged overdraft of £1,200 you will be charged 39% APR Representative/EAR variable. Subject to financial status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • With Monzo Max you get worldwide travel and phone insurance, plus UK & Europe breakdown cover. Travel insurance provided by Zurich, powered by Qover. Phone insurance provided by Assurant. Breakdown cover provided by RAC.
  • Access to our best rates including 4.60% AER (variable) interest, fee-free cash deposits and discounted monzo investing fees.
  • A weekly Greggs treat, an annual Railcard and our advanced money management features.
  • Get a clear view of your finances by adding your other bank accounts and credit cards to Monzo. See your balances and transactions, and move money around with easy bank transfers.
  • Understand your spending with Custom Categories so you can budget better each month.
  • Make your spare change go further each month. Automatically put 2x, 5x or 10x as much spare change into savings every time you spend.
  • Our Credit Insights feature provides you with clear, impactful actions to improve your credit scores and credit health. Terms apply.
  • ou must open a Monzo Current Account to sign up to Monzo Max.
Eligibility
Maximum Age69 years
Maximum InvestmentUnlimited
Minimum Contract Term3 months
Minimum Age18 years
Permanent UK Resident

Monzo Max with Family

Overdraft interest rate
39%EAR
AER
0.00%
Monthly fee
£22
Switching incentive
-
Representative example:
If you use an arranged overdraft of £1,200 you will be charged 39% APR Representative/EAR variable. Subject to financial status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • With Monzo Max you get worldwide travel and phone insurance, plus UK & Europe breakdown cover for you and your family. Travel insurance provided by Zurich, powered by Qover. Phone insurance provided by Assurant. Breakdown cover provided by RAC.
  • Access to our best rates including 4.60% AER (variable) interest, fee-free cash deposits and discounted monzo investing fees.
  • A weekly Greggs treat, an annual Railcard and our advanced money management features.
  • Get a clear view of your finances by adding your other bank accounts and credit cards to Monzo. See your balances and transactions, and move money around with easy bank transfers.
  • Understand your spending with Custom Categories so you can budget better each month.
  • Make your spare change go further each month. Automatically put 2x, 5x or 10x as much spare change into savings every time you spend.
  • Our Credit Insights feature provides you with clear, impactful actions to improve your credit scores and credit health. Terms apply.
  • ou must open a Monzo Current Account to sign up to Monzo Max.
Eligibility
Maximum Age69 years
Maximum InvestmentUnlimited
Minimum Contract Term3 months
Minimum Age18 years
Permanent UK Resident
See your other bank accounts and credit cards in one place

Monzo Perks

Overdraft interest rate
39%EAR
AER
0.00%
Monthly fee
£7
Switching incentive
-
Representative example:
If you use an arranged overdraft of £1,200 you will be charged 39% APR Representative/EAR variable. Subject to financial status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • With Monzo Perks you get our best rates including 4.60% AER (variable) interest, a weekly Greggs treat, an annual Railcard and our advanced money management features all for £7 a month.
  • Get a clear view of your finances by adding your other bank accounts and credit cards to Monzo. See your balances and transactions, and move money around with easy bank transfers.
  • Understand your spending with Custom Categories so you can budget better each month.
  • Make your spare change go further each month. Automatically put 2x, 5x or 10x as much spare change into savings every time you spend.
  • Our Credit Insights feature provides you with clear, impactful actions to improve your credit scores and credit health. Terms apply.
  • You must open a Monzo Current Account to sign up to Monzo Perks.
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident

Monzo Extra

Overdraft interest rate
39%EAR
AER
0.00%
Monthly fee
£3
Switching incentive
-
Representative example:
If you use an arranged overdraft of £1,200 you will be charged 39% APR Representative/EAR variable. Subject to financial status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • With Monzo Extra you get our advanced tools giving you greater financial visibility.
  • Get a clear view of your finances by adding your other bank accounts and credit cards to Monzo. See your balances and transactions, and move money around with easy bank transfers.
  • Understand your spending with Custom Categories so you can budget better each month.
  • Make your spare change go further each month. Automatically put 2x, 5x or 10x as much spare change into savings every time you spend.
  • Our Credit Insights feature provides you with clear, impactful actions to improve your credit scores and credit health. Terms apply.
  • You must open a Monzo Current Account to sign up to Monzo Perks.
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident
Uswitch Limited is a credit broker, not a lender, for consumer credit.
Our services are provided at no cost to you. We may receive a commission from the companies we refer you to, but this does not affect what you will pay for the product you choose.

Should you switch bank accounts?

As with any financial decision, switching bank accounts depends on your personal circumstances. If you are unsure whether it’s the right decision for you, don’t hesitate to have a chat with an independent financial advisor. 

However, there are many benefits to switching bank accounts. For example, you could get more perks with a new current account - like cashback on regular spending or access to higher savings rates. Some providers are currently offering customer-only savings accounts with rates above 7%. 

One of the reasons for switching might be because you’re unhappy with your current customer service. Moving banks could open the door to better support and an improved customer service. It’s also worth noting that when you change bank accounts, the new bank will run a credit score check, which could impact your credit rating.

Pros and cons for switching current accounts

Pros

Potential for higher interest rates
Cash incentives
Cashback offers
7-working day Current Account Switch Guarantee

Cons

Monthly fees for some bank accounts
Admin to get your finances in order
Lose any benefits you built from your previous bank
Your new bank could run a credit score check and this could affect your credit rating

How to switch current accounts

Switching bank accounts has become a lot easier in recent years, and that's thanks to the Current Account Switch Service (CASS). The majority of banks and building societies use this service and many will ask you to use it in order to qualify for a switching offer. 

The good news is that CASS transfers all your payments and balance from the old account to the new one, and if any payments are sent to the old account, it’ll automatically redirect them. This should also be completed within seven working days. 

You can find out more about this process in our how to switch current accounts guide. 

1. Choose your new account 

Compare bank accounts and decide which one is the right fit for your financial situation. 

2. Start the application process 

Once you’ve made the decision, it’ll be time to apply for the account. Depending on your bank this could be in branch, over the phone, by post or online. 

3. Decide when to switch 

You are always in control of the switching process, so it’s important to choose a switch date as part of the application process. Remember to allow seven working days for the switch to occur.

4. Use your new account 

Once the switch has been completed, you’ll be able to start using your new account as normal. 

How does the switch service help you?

The aim of the current account switch service is to make the process of changing banks simple, reliable and stress-free. And it’s working - since it launched in 2013, there have been more than 10 million switches. 

CASS is also backed by the Current Account Switch Guarantee, so if anything goes wrong the charges or interest incurred on your old or new account will be refunded. All you need to do is alert your bank about the issue and they’ll be on hand to help.

Our current accounts

How can you make the switching process easier?

To make sure that the switching process goes smoothly, there are some things you can do.

Audit your bank account

Before the switch takes place, make a note of all your regular payments and the current balance in your account. You’ll then be able to check everything is in order and nothing is missing in your new account.

Download documentation

Your transaction history won’t be transferred with CASS, so remember to download or print previous bank statements and store them in a safe place.

Choose an appropriate date

Try to pick a switching date that won’t clash with any important payments like your paycheck. Avoid the weekend and bank holidays too as this will reduce any possible errors.

Keep track of the progress

It’s a good idea to check how the switch is progressing and keep an eye on both your accounts. Once you are happy the switch has been successful, make sure your old account has been closed.

Take advantage of the support available

Switching bank accounts is common practice these days, so your bank’s customer service team will be able to help and answer any questions.
If you’ve been with the same bank for years, switching offers are enticing as you can get a cash boost and possible extras like cashback or higher interest rates. Explore all the options in the market before taking the plunge.

What if there are no switching offers available?

If there are no switching offers available, that doesn’t mean you still can’t change bank accounts. Providers will always welcome new customers, and there will still be higher interest rates or interest-free overdrafts, new features and enticing rewards to explore. 

Remember to do your research and compare all the current accounts in the market to find the best deal for you.

Types of current accounts

High interest current accounts

Some current accounts are offering high interest rates, so you can earn a little extra money on your balance every month. It's always worth exploring interest rates, but bear it mind that these accounts might come with monthly fees or a minimum monthly deposit.

Packaged current accounts

If you want more from your current account, then it's worth exploring packaged options. This type of current account normally comes with extras like travel or mobile phone insurance. However, these accounts typically charge a monthly fee.

Cashback accounts

When used correctly, cashback current accounts can be a great way of earning a little extra money each month. The cashback reward is normally given in exchange for paying bills or regular spending. But, only explore this option if the terms and conditions suit your regular outgoings. It's important that you don't end up spending more money than you need to.

Types of current accounts

High interest current accounts

Some current accounts are offering high interest rates, so you can earn a little extra money on your balance every month. It's always worth exploring interest rates, but bear it mind that these accounts might come with monthly fees or a minimum monthly deposit.

Packaged current accounts

If you want more from your current account, then it's worth exploring packaged options. This type of current account normally comes with extras like travel or mobile phone insurance. However, these accounts typically charge a monthly fee.

Cashback accounts

When used correctly, cashback current accounts can be a great way of earning a little extra money each month. The cashback reward is normally given in exchange for paying bills or regular spending. But, only explore this option if the terms and conditions suit your regular outgoings. It's important that you don't end up spending more money than you need to.

FAQs

Do I have to pay for a current account?

You don't have to. Most providers typically offer standard accounts which you don't pay a fee for. They offer you basic services such as a debit card, cheques, and the ability to set up direct debits and standing orders.

What is a monthly or annual account fee?

Some banks charge you a monthly or annual fee to have a particular account. Not all accounts have a fee. It is usually the accounts with exclusive perks, additional benefits or cashback that charge a fee.

Don't let fees put you off. Consider whether you’re going to use the account to take full advantage of the perks and you could end up saving more money than the fees cost you.

What are the incentives to switch bank accounts?

Banks sometimes offer perks or incentives to encourage you switch your current account to them. These could be in the form of a cash bonus, vouchers or an item like new headphones.

You may have to stay with the bank for a set amount of time to qualify for and keep the bonus. You’ll probably have to get your salary paid into the account and set up one or more standing orders or direct debits.

Are there any penalties for switching current accounts?

No. In fact, even if you're a regular or 'serial' switcher, it should have no impact on your finances or your chances of being accepted by a new bank or building society.

How do I choose the best current account?

The best current account is the bank account that offers the perks or deals that suit your lifestyle.

If you often dip into the red, you might want to compare bank accounts that offer fee-free overdrafts. Recent legislation means arranged and unarranged overdrafts are practically the same thing now, but banks have started to charge up to 40% interest on your debt.

If you have a large bank balance of around £2,000 or more, and are always in credit, you might consider looking for an account that will pay you the most interest.

Or if don't mind paying a fee for your account, you could opt for packaged account that may offer add-on benefits such as travel insurance, mobile phone insurance, or breakdown cover. But it only makes sense if you don't already have the benefits elsewhere.

Can you get a current account with bad credit?

Yes. If you have bad credit, you should still be able to get a basic current account. The UK government has introduced rules requiring all major banks and account providers to offer products that anyone would be eligible for, regardless of their credit score or financial circumstances.

Can I open multiple current accounts?

There aren't any specific limitations on opening multiple current accounts. You may decide to open one with a partner, housemate or family member if you share bills for example. It's worth remembering that if the current account comes with an overdraft, then a credit check will be carried out. If your credit file suddenly reports several applications for credit in a short period of time, that may impact your ability to get credit.

What about overdrafts on current accounts?

Some accounts allow you an interest free overdraft. This translates to letting you borrow a set amount of money for free. Not all accounts do this.

The interest free amount is often less than the full overdraft limit. Be careful not to confuse the two.

For example, you may have an agreed interest free overdraft of £250. But your full overdraft limit might be £1,000. You would owe interest on anything in your overdraft between £250.01 and £1,000.

What are the new rules on overdraft fees?

The rules on overdrafts changed in April 2020. Under new government rules banks are no longer able to charge high fees to customers who drop into their overdraft. This applies to both arranged and unarranged overdrafts.

Banks can now only charge overdraft users a simple annual interest rate. It's important to speak to your bank or building society if you are unsure about your overdraft fees.

Current account guides

Find out more about how current accounts work with our in-depth guides
How to Easily Switch your Current Account
How to Easily Switch your Current Account
Are there any risks in opening a joint account?
Are there any risks in opening a joint account?
Online Banking Explained
Online Banking Explained

About the author

Lucinda O'Brien
Lucinda O'Brien has spent the past 10 years writing and editing content for regional and national titles. She applies her industry knowledge to ensure readers can make confident financial decisions.

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