Switching your current account is one of the easiest ways to bank free cash in the UK — most major banks pay £150–£500 simply for moving your account using the Current Account Switch Service (CASS). In April 2026 there are five live offers worth chasing, with Lloyds Premier paying out a market-leading £500. Here’s every active deal, eligibility rules and how long the bonus takes to land.
Best Current Account Switching Offers — April 2026
| Bank | Account | Cash Bonus | Key Requirement | Bonus Paid By |
|---|---|---|---|---|
| Lloyds | Premier Current Account | £500 | Pay in £5,000+ & hold £100,000 in Lloyds investments/savings | End of following month |
| Lloyds | Club Lloyds | £200 | Pay in 2 active DDs, deposit £2,000+/mo | End of following month |
| Barclays | Barclays Bank Account | £200 | Switch via CASS & deposit £1,500 | Within 28 days |
| Santander | Edge / Edge Up Current Account | £180 | 2 active DDs & £1,500/mo deposit | Within 90 days |
| First Direct | 1st Account | £175 | Pay in £1,000 within 3 months | 20th of following month |
| NatWest | Select / Reward | £150 | Switch via CASS & deposit £1,250 | Within 7 working days |
| Halifax | Reward / Ultimate Reward | 6-month 0% overdraft | Full switch via CASS | On switch completion |
Lloyds: Up to £500 (the Biggest Bonus on the Market)
Lloyds is running the most lucrative switching deal in April 2026 — £500 for switching to its Premier Current Account, available until 30 April 2026. The catch is significant: you need to pay in £5,000 within the first month and hold at least £100,000 in qualifying Lloyds investments, savings or pensions. For high-net-worth savers it’s an easy win; for everyone else, the £200 Club Lloyds offer (£2,000/mo deposit, two direct debits) is the realistic option.
Barclays and Santander: Solid Mid-Tier Bonuses
Barclays’ £200 deal is one of the easier switches to qualify for — pay in £1,500 and complete a full Current Account Switch via CASS, and the bonus lands within 28 days. Santander’s Edge Up account pays £180 with the bonus of 1 per cent cashback on selected household bills (utilities, council tax, broadband and mobile up to £15/month) — meaning it can earn another £180 a year on top.
First Direct: £175 + the Best Customer Service
First Direct’s 1st Account has won “best current account” at the Which? awards consistently for over a decade. The £175 switching offer requires you to deposit £1,000 within three months, then the bonus is paid by the 20th of the following month. The 1st Account also gives you access to a Regular Saver paying 7 per cent AER on up to £300 a month, which is one of the best regular savers on the market.
NatWest: Fastest £150 Payout
NatWest pays the £150 switching bonus within seven working days of switch completion — by far the fastest of any UK bank. Eligibility is light: deposit £1,250, log into the mobile or online banking once, and complete a full CASS switch. NatWest customers also get access to the Digital Regular Saver paying up to 6.17 per cent AER on £150/month.
How Often Can You Bonus-Hop?
There’s no central limit, but each banking group has its own rules:
- Lloyds Banking Group (Lloyds, Halifax, Bank of Scotland) — you can’t claim again if you’ve taken a bonus from any of them since 1 January 2023
- Barclays — typically once every 3–4 years
- Santander — once per customer in any 12 months
- First Direct — only available if you’ve never held an HSBC or First Direct current account
- NatWest Group (NatWest, RBS, Ulster Bank) — once every 3 years across the group
Realistically, a UK saver willing to bonus-hop every 12–18 months can collect £400–£700 a year in switching cash without disrupting their finances — direct debits move automatically through CASS in 7 working days.
How the Current Account Switch Service Works
- Pick a new bank and complete a switching application — choose CASS as the switch type
- The new bank contacts your old bank, transfers the balance, and moves all direct debits and standing orders
- Any payments arriving at your old account are auto-redirected for at least 3 years
- The switch completes on a date you choose, normally 7 working days after applying
- If anything goes wrong, the CASS guarantee means the new bank refunds any interest or charges you incurred
Frequently Asked Questions
What is the best bank switching offer UK April 2026?
Lloyds Premier pays the highest cash bonus of £500 in April 2026, but requires £100,000 in qualifying Lloyds savings/investments. For most people, Barclays’ £200 (deposit £1,500) and Lloyds Club Lloyds £200 (£2,000 monthly deposit + 2 direct debits) are the most accessible top offers.
Will switching banks hurt my credit score?
The new bank performs a credit check, which leaves a hard search on your file — but the impact is usually minor and short-lived (3–6 months). Switching does not “close” your credit history with the old bank from a credit-scoring perspective. Most people see no measurable impact after a few months.
How long does a bank switch take?
The Current Account Switch Service guarantees the switch completes in 7 working days from a date you choose. Any payments to or from your old account are auto-redirected for at least 3 years, and the CASS guarantee compensates you for any errors.
Can I switch banks more than once?
Yes — there’s no overall limit, but each banking group restricts repeat bonuses (typically every 3 years or once per group). Lloyds, Halifax and Bank of Scotland share eligibility, as do NatWest, RBS and Ulster Bank.
Is the switching bonus taxable?
No — HMRC treats current account switching bonuses as non-taxable. They are not interest, not employment income and not a chargeable benefit. The cashback simply lands in your account.
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