How to make £100s switching bank accounts (again & again)
According to the Current Account Switch Service (CASS), more than 12 million people have switched their bank account—with over 1 million people switching in 2025.
A large reason behind the recent rise in bank switching has undoubtedly been due to the recent re-emergence of a number of bank switching deals following the brief market drought in 2024. As of February 2026, there are several major providers offering substantial cash rewards, with top deals now reaching up to £250. Beyond the upfront cash, banks are increasingly focusing on 'sticky' perks such as high-interest regular savers and ongoing cashback to retain new customers.
So far this year, we've seen a number of bank switching offers hit the market and, right now, there are SIX banks that'll pay you (up to £200) for ditching and switching accounts.
In this article we're going to explore how bank switching works, the latest bank switch offers, plus we'll explore how it's possible to earn multiple bonuses.
What's the deal with bank switching?
The current account market is fiercely competitive. Not because bank accounts are particularly profitable, but because if you have a current account, your bank can turn on the 'hard sell' and try to flog you one of its credit cards, loans, or even mortgages.
Because banks are eager to grow their customer bases, many will shamelessly pay customers for moving to them. So, as you don't let yourself get drawn into applying for products you don't need, switching bank accounts can be an easy way to earn free cash.
What bank switch offers are available right now?
Now's a great time to switch bank accounts as there's a host of hot offers up for grabs.
So if you're keen to earn some free dosh — or you're simply fed up of your current bank — here's a lowdown of what's on offer...
| Account | Switch bonus | Qualifying criteria | Other stipulations | Other info |
|---|---|---|---|---|
| First Direct 1st Account | £175 | Open the account in-app (or online for joint accounts); within 45 days: switch acct from another bank, incl 2+ direct debits or standing orders, AND pay in £1,000+ and make 5+ debit card payments. | Must be new First Direct customer; no HSBC current account since Jan 2018. | Access to 7% regular saver. |
| Santander current account | £200 | Complete the switch within 60 days of your request, have at least 2 active selected household Direct Debits and pay in £1,500. Receive switch bonus 90 days after request. | Not eligible if you held a current account with Santander on 1 January 2025 or if you previously received a Santander switcher incentive. | Note, some current accounts have monthly fee |
| Nationwide current account | £175 | Switch a non-Nationwide bank account to a new or existing FlexDirect, FlexAccount or FlexPlus; Move over at least 2 Direct Debits; Within 31 days of account opening or applying to switch into an existing account, pay in at least £1,000 and make 1 debit card payment. | This must be the first time you've had a Nationwide current account switch offer since 2021 | Can earn 5% AER interest up to £1,500 balance; earn 1% monthly cashback up to £5/m on debit card spend |
| NatWest Reward | £150 | Switch by 16 June, pay in £1,250 (can be made of multiple payments and must remain in the account for 24 hours), log in to the mobile app | Offer available to new and existing customers who haven't previously received a switch offer and did not hold a NatWest current account or savings account as of 17 February 2026. | Access to a 12 month fixed bonus rate if you open a Digital Regular Saver account; £2/month fee |
| Co-op | up to £175 (£100 to switch, plus £25 a month for three months) | Complete switch within 8 weeks, then within 30 days of the switch completing: deposit £1,000+, have 2+ Direct Debits, register for online banking or mobile app, and also make 10+ debit card transactions | Offer available to those who haven't had switch cash from Co-op Bank since 1 Nov 2022 | Access to linked regular saver paying 7% variable interest for 12 months |
The Current Account Switch Service
Regardless of the switch offer you go for, in order to bag a bank account switch bonus, you'll need to play close attention the terms of any offer.
In addition, you'll also have to complete your switch using the Current Account Switch Service (CASS). This is the official switching service which ensures you won't be out of pocket if your bank makes a mistake when moving your account.
The CASS also ensures any payments — including standing orders and direct debits — are moved over automatically for you. Plus, as an added boon, under the CASS your switch shouldn't take any longer than 7 working days to complete.
Can you earn multiple bank switch bonuses?
Yes. There's nothing stopping you moving bank accounts, pocketing a switch bonus, and then immediately switching to another bank to grab another bonus. You can do this as often as you like though, understandably, most banks won't allow you to earn multiple bonuses from the same banking group.
Chasing multiple switch bonuses—a strategy often called 'bank switching'—remains highly effective in 2026, but timing is everything. To maximize your earnings, prioritize deals with imminent 'hard' deadlines, as banks often withdraw these incentives without notice when they hit their recruitment targets.
Always check the 'exclusion period' in the fine print; most major groups (like Lloyds/Halifax/Bank of Scotland or HSBC/First Direct) will not pay a second bonus if you have received a switching incentive from any brand within their banking group in the last 2–3 years.
If the stars align and you manage to bag multiple bonuses in quick succession, then it's certainly possible to pocket £100s for doing very little. And if you don't manage to take advantage of every offer out there, you can take heart from the fact that most bank switch offers return in some form.
Happy with your bank but keen for switching cash?
If you're content with your current bank account but also like the thought of some free cash (who doesn't?), then you may wish to open a separate bank account solely for the purposes of bagging multiple switch bonuses. That way you can switch your extra account and grab as many bonuses as you like while keeping your 'main' current account for everyday use.
If you do this, however, you may have to set up a direct debit or two on your spare account. This is because many switch offers will require you move over a set number of direct debits as part of your switch. Setting up extra direct debits could be a bit of a faff, but if you want to take advantage of earning money for switching a bank account you don't even use, then it could be worth the trouble!
So, in summary, when it comes to switching your bank account and earning free cash, here are some key points to keep in mind:
- There are multiple accounts that will pay you up to £200 for switching accounts.
- To take advantage of any switch deal you must carefully study the terms of any offer.
- You must move accounts using the official Current Account Switch Service (CASS) to qualify for free switching cash.
- The CASS guarantees your switch will be complete in 7 working days.
- The CASS also ensures any payments will be moved over for you, and you'll be covered if any mistakes occur as part of your switch.
- It's possible to switch your bank account often to receive multiple bank switch bonuses.
Bank switch deals change often. For the latest offers, take a look at the 'switching' section in our best bank accounts guide.