Switching your current account is one of the simplest ways to pocket free cash in the UK. At any given time, several major banks pay a switching bonus — usually somewhere between £100 and £200 — just for moving your main account to them using the Current Account Switch Service (CASS). The exact offers change constantly: a deal that’s live this month may be pulled next month and replaced by a rival’s. Rather than chasing one headline figure, the smart approach is to understand how switching works, what the typical requirements are, and where the eligibility traps lie — so you can grab whatever the best current deal happens to be whenever you’re ready to move.
This guide explains how CASS works (including the 7-working-day guarantee), the typical hoops you’ll need to jump through to trigger a bonus, the most common reasons people get rejected, and how to switch safely without disrupting your finances.
How the Current Account Switch Service works
The Current Account Switch Service is a free, industry-wide scheme launched in 2013 and run by Pay.UK. It’s supported by more than 40 banks and building societies, covering over 99 per cent of UK current accounts. The whole point is to take the hassle and risk out of moving banks — your new provider does almost all the work.
- You open the new account and choose a full switch via CASS, picking a switch date at least seven working days ahead.
- Your new bank contacts your old bank, transfers your balance, and moves all your Direct Debits and standing orders — both incoming and outgoing.
- Your old account is closed automatically on the switch date.
- Any payments that still arrive at your old account (a stray salary, a refund) are redirected to your new account for at least three years, and the sender is told your new details.
- The switch completes within seven working days of your chosen date.
Crucially, the service is backed by the Current Account Switch Guarantee. If anything goes wrong during the switch — a missed Direct Debit, a delay, a charge you wouldn’t otherwise have paid — your new bank must refund any interest lost or charges incurred as a result. That guarantee is what makes switching genuinely low-risk, and it’s why most bonuses require a full CASS switch (not just opening an account and moving a couple of payments yourself).
Why switching bonuses exist (and why they keep changing)
Current accounts are sticky — most people never move — so a primary current account customer is valuable to a bank. They can cross-sell you savings, mortgages, loans and credit cards, and your salary landing each month is a steady, low-cost source of deposits. Paying you £100–£200 to switch is a cheap way to win that long-term relationship.
Because the bonuses are a marketing tool, banks switch them on and off to manage demand. When one bank wants to grab market share it launches a deal; once it has enough new customers, it pulls the offer. That’s why there is no single “best” bonus that stays put — the leaderboard reshuffles every few weeks. Top-tier bonuses have hovered around the £150–£200 mark for years, with occasional spikes higher for premier accounts that carry steep conditions (large monthly pay-ins or holding six-figure balances in the bank’s savings and investments). Always check the bank’s own offer page for the live figure and terms before you apply.
Typical switch requirements and what to watch
Bonuses are never “free” in the sense of no strings — banks set conditions to make sure you actually use the account as your main one. The exact rules vary by offer, but they cluster around a handful of common requirements. Here’s what to look for in the terms and conditions before you commit.
| Typical requirement | What it usually means | What to watch |
|---|---|---|
| Full CASS switch | Use the official switch service, not a manual move | Bonus voided if you don’t tick the “switch” option, or move too few Direct Debits |
| Move active Direct Debits | Often 2–3 live Direct Debits must transfer across | Dormant or cancelled DDs may not count; set some up first if needed |
| Minimum pay-in | Deposit a set sum (commonly £1,000–£2,000) within 30–60 days | Must arrive within the deadline; some count only credits, not transfers between your own accounts |
| App or online log-in | Register for and log into mobile/online banking once | Easy to forget — a missed log-in can forfeit the whole bonus |
| Debit card use | A handful of card payments within the window | Contactless and small purchases usually count; check how many are required |
| Time limit to qualify | All conditions met within 30–60 days of opening | Diarise the deadline the day you switch |
The bonus is usually paid a set number of days after you’ve met every condition — anywhere from seven working days to the end of the following month, depending on the bank. Reassuringly, HMRC does not treat current account switching bonuses as taxable income, so the full amount is yours to keep.
Illustrative switch bonus amounts
The chart below shows the kind of bonus amounts that have been seen recently across the market. These are illustrative examples only to give you a feel for the typical range — they are not live offers and will not reflect what’s available on the day you read this. Check each bank’s current switch page for the figure and conditions that apply right now.
*Premier and packaged deals can advertise larger headline figures but typically attach heavy conditions — for example a high monthly pay-in or holding a large balance in the bank’s savings and investments. For most people the realistic, low-effort sweet spot is an entry-to-mid-tier bonus in the £100–£200 range.
Eligibility traps to avoid
The most common reason people miss out on a bonus isn’t failing a condition — it’s not being eligible in the first place. Banks word their terms carefully. Watch for these traps:
- Previous-switcher exclusion. Most banks won’t pay a bonus if you’ve already received a switch incentive from them before — sometimes ever, sometimes within a set number of years.
- Existing-customer exclusion. Many offers exclude you if you already held any current account with that bank (or its group) when the offer launched. Opening a new one won’t get you the bonus.
- Banking-group rules. Eligibility is usually shared across a banking group, not just one brand. For example, Lloyds, Halifax and Bank of Scotland share rules, as do NatWest, RBS and Ulster Bank. A bonus from one can block a bonus from another.
- Partial vs full switch. Simply opening an account and moving a payment yourself won’t count — you almost always need a full CASS switch with the required number of Direct Debits.
- Missed micro-conditions. A forgotten app log-in, too few debit card payments, or a pay-in that lands a day late can void the entire bonus even if everything else is perfect.
How to find and pick the current best deal
Because offers rotate, the right method is to compare what’s live the week you switch rather than relying on any fixed list. Here’s how we’d approach it:
- Start with comparison and money sites. MoneySavingExpert, Which?, MoneyHelper and the major comparison sites maintain up-to-date round-ups of live switch bonuses.
- Confirm on the bank’s own page. Headline figures get out of date fast — verify the amount, deadline and conditions on the provider’s official switch page before applying.
- Check you’re eligible first. Read the exclusions for previous switchers and existing customers before you waste a hard credit search.
- Weigh the total value, not just the cash. Some accounts add cashback on bills, a strong linked regular saver, or in-credit interest that can be worth more than the one-off bonus over a year.
- Match the conditions to your real life. If a deal needs a £2,000 monthly pay-in and your salary is lower, pick one with a smaller requirement rather than gaming it.
How to switch safely
- Don’t close your old account manually. Let CASS close it — that’s what triggers the redirection and the guarantee.
- Keep a small buffer. Leave a little money in place until you’ve confirmed every Direct Debit has moved across.
- Note the qualifying deadline. Diarise the date by which your pay-in, log-in and card payments must be done.
- Check linked services. If your old account is tied to an overdraft, a 0% deal, a linked savings account or a mortgage offset, confirm switching won’t cost you those perks.
- One hard search per switch. Each application is a hard credit check — the impact is usually minor and short-lived, but don’t apply for several at once.
How we approach switch-bonus advice
We deliberately avoid pinning this guide to a single “winner”, because switch bonuses are short-lived promotions that change every few weeks — any specific list would be stale within a month. Instead we focus on the parts that stay true: how CASS and its guarantee work, the typical requirements and amounts, and the eligibility rules that catch people out. The illustrative figures here reflect the ranges seen across the market recently and are clearly labelled as examples, not live offers. For the deal that’s actually available on the day you switch, always cross-check a current comparison round-up against the bank’s own offer page.
Frequently asked questions
How much is a typical bank switch bonus in the UK?
Most mainstream switch bonuses sit in the £100–£200 range. Premier or packaged accounts sometimes advertise more, but they attach heavier conditions such as a high monthly pay-in or holding a large balance with the bank. The exact figures change regularly, so check the live offer before applying.
How long does a bank switch take?
The Current Account Switch Service guarantees the switch completes within seven working days of a date you choose (which must be at least seven working days ahead). Payments to or from your old account are auto-redirected for at least three years, and the Current Account Switch Guarantee refunds any interest or charges caused by an error.
What requirements do I usually need to meet to get the bonus?
Typically you must complete a full CASS switch, move a set number of active Direct Debits (often two or three), pay in a minimum amount within 30–60 days, and sometimes log into the app or make a few debit card payments. Miss any one and the bonus can be forfeited, so diarise the deadline.
Why might I not be eligible for a switch bonus?
The most common reasons are that you’ve previously received a switch incentive from that bank or its banking group, or that you already held a current account with them when the offer launched. Eligibility is usually shared across a group (for example Lloyds/Halifax/Bank of Scotland, or NatWest/RBS/Ulster Bank), so a past bonus from one brand can block another.
Will switching banks hurt my credit score, and is the bonus taxable?
The new bank runs a credit check, leaving a hard search on your file, but the impact is usually minor and fades within a few months — just avoid multiple applications at once. The switch bonus itself is not treated as taxable income by HMRC, so you keep the full amount.
Last reviewed: June 2026.
This article is general information, not financial advice. Switch offers, requirements and eligibility rules change frequently — always check the bank’s current terms before switching.
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