Before moving your account, it’s important to see how your new bank measures up for customer service, and this is where Which? can help.
Read on for a breakdown of the latest switching offers (ordered by newest first), how they compare, and their key eligibility rules.
If you're thinking of switching to any of the accounts mentioned in this article, make sure you refer to the particular terms and conditions of the deal to make sure it's right for youLatest bank account switching incentives
This bonus is available to new customers switching to a Club Lloyds account, including its Classic, Silver (£11.50 a month) and Platinum (£22.50 a month) packaged accounts.
Club Lloyds accounts come with the option to pick one lifestyle benefit a year. Options include a 12-month Disney+ subscription, six cinema tickets, an annual magazine subscription or a Coffee Club and Gourmet Society membership.
The Silver account comes with European and UK family travel insurance, AA breakdown family cover and mobile phone insurance. The Platinum account includes the same features but with additional worldwide family travel insurance.
There’s a £3 fee for maintaining any of the Club Lloyds accounts (in addition to the packaged account fee), but it will be refunded each month if you pay in £2,000 or more.
How to get £175:The switch must include the transfer of three active direct debits from your old account.
You’ll need to switch between today (18th February) and 14th April. The £175 will be paid to you three days after the switch completes.
What's in the small print? Is Lloyds Bank a good provider? When the deal ends:Find out moreCo-operative Bank will pay an initial £75 for switching bank account, and an additional £25 per month for three months if you hit certain criteria.
New customers must apply for a standard current account or Everyday Extra account. This packaged bank account includes worldwide travel insurance, UK and European breakdown cover and mobile phone insurance. It costs £15 per month.
How to get £150:To get paid £25 for three months (£75 total), each month you must deposit at least £1,000, have two active direct debits, and make at least 10 debit cards or digital wallet transactions.
What’s in the small print?:Is Co-operative Bank a good provider?When the deal ends:You'll need to switch over a minimum of two active direct debits, deposit £1,000 and make one debit payment within 31 days. Once these criteria have been met, you'll be paid £175 within 10 days.
Nationwide customers can benefit from this deal, but you’ll need to be switching from a current account you hold with another banking provider.
What’s in the small print?Is Nationwide a good provider?: Nationwide achieved an 81% customer satisfaction score in our annual survey, ranking fifth out of 20 providers. It scored highly for its online banking service, receiving five stars.In a recent online banking security review, Nationwide ranked joint fifth out of 11 providers with a score of 74%.
When the deal ends: Find out moreThe 1st Account comes with no monthly fee and offers a £250 interest-free overdraft buffer. However, if you borrow more than £250, you'll pay 39.9% EAR.
It also offers fee-free spending abroad. Before the bank scrapped its fees in 2023, customers used to pay 2.75% to withdraw cash or spend money abroad.
How to get £175:Other requirements include depositing a minimum of £1,000 into the account within 30 days of opening, and registering and logging into digital banking.
What’s in the small printYou also won’t be eligible for this deal if you held a HSBC current account on or after 1 January 2018.
Is First Direct a good provider?: First Direct earned a full five stars for its online and mobile banking, as well as contacting customer service.In a recent online banking security review, First Direct ranked joint fifth out of 11 providers, with a score of 74%.
As a division of HSBC, First Direct is covered by the Financial Services Compensation Scheme (FSCS), but it’s important to keep in mind that the £85,000 FSCS protection limit applies across both brands. If you have accounts with both First Direct and HSBC, ensure your total deposits across the two are below this threshold to stay fully protected.
When the deal ends:Find out more:source https://www.which.co.uk/news/article/best-bank-account-switching-deals-a2D4e7f98lL3