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Daily Mail
01-08-2025
- Business
- Daily Mail
The best bank accounts: Banks that offer cash for switching, interest on your balance and cashback
Products featured in this article are independently selected by This is Money's specialist journalists. If you open an account using links which have an asterisk, This is Money will earn an affiliate commission. We do not allow this to affect our editorial independence. People rarely change their bank accounts, often sticking with one they opened as a young worker, student or even child, despite there being much better deals - and even free cash - out there. The best bank accounts go the extra mile, with many current accounts coming with incentives or extra perks to help you get the most from your money. The latest statistics from the Current Account Switch Service (Cass) suggest that bank account switches are becoming more popular in the UK, with 2024 being the second consecutive year of over a million switches. But when you consider there's almost 54million adults in the UK, it's clear most people are staying put. The savvy consider jumping ship for a better deal or service though. There are lots of banks to choose from, offering different current accounts to suit different people. Options range from those that pay interest to ones that offer cheaper spending abroad, good apps and budgeting tools, a better overdraft rate, or extras such as insurance. There are often generous incentives on offer to encourage you to switch bank account. At the moment you can bag up to £175 just by switching, with deals from First Direct, Barclays and NatWest available. Meanwhile, Britain's biggest building society Nationwide has paid out £100 in bonuses to qualifying members with current accounts for the past three years - and promises to keep its branches open. Some banks have very competitive linked savings rates. For example, digital bank Starling pays 3.75 per cent for linked instant access savings, while Monzo pays 3.25 per cent and Chase pays 2.75 per cent. Banks such as Barclays, HSBC and Santander also grant access to exclusive easy-access savings rates. If you're unhappy with your current bank or spot a better deal elsewhere, it may be worth considering a switch. You can find our pick of the best bank accounts below. Best current accounts: Top accounts and perks at a glance Account Perks Conditions Overdraft £175 for switching. 15% cashback at popular retailers. 4.61% Rainy Day Saver. Open a Barclays Bank Account or Premier Current Account using app. Join Blue Rewards, for £5 a month and pay at least £800 in monthly – doesn't apply opened a premier account. Switch in app, including two direct debits at least, and pay £1,500 into the account. 35% Chase 1% cashback on eligible purchases (groceries, transport, fuel) for 12 months, max £15 a month. Fee-free spending abroad. Access to linked easy-access savings paying 2.75% (5% with boost for 12 months). Round-ups option for spare change pays 5%. None required. You have to use the app. No branches. N/A Club Lloyds Pays 1.5% in-credit interest on up to £4k, and 3% on £4k-£5k. Choose a reward each year from either 12 months of Disney+, six cinema tickets, an annual digital Coffee Club and Gourmet Society membership or an annual magazine subscription. Fee-free spending abroad. £5 monthly fee unless you deposit £2,000 a month into the account. £100 interest free. 29.9% variable after. First Direct 1st Account £175 switching bonus. £250 interest-free overdraft. Earn 7% via Regular Saver Account. Within 45 days pay in £1,000, switch at least two direct debits and use debit card five times. You have to use the app. No branches Above £250 it is charged at 39.9% Halifax Reward Fee-free spending abroad. £100 interest-free overdraft. Up to 15% cashback at certain retailers. Pay in £1,500+ into the account each month otherwise a £3 monthly fee applies. Above £100 it's 29.9% Kroo In-credit interest paying 3.15% on balances up to £500k. Zero fees when spending abroad. Online and smartphone-only bank. 39.9% Monzo Bank Linked instant-access saver paying 3.25%. Fee-free spending abroad. Instant spending notifications. Cashback at select retailers. Online and smartphone-only bank. 19%, 29% or 39% depending on credit score. Nationwide FlexDirect, FlexPlus, FlexAccount FlexDirect: 1% cashback for new customers and 5% interest on balances up to £1,500 for the first year (drops to 1% after the first year). FlexPlus: £18/month fee. 39.9% NatWest Reward * & RBS Reward account £125 switching bonus for NatWest Reward and a £50 bonus for opening a Digital Regular Saver. £5 a month back in rewards. Digital Regular Saver pays 5.5%. Pay in £1,250 within 60 days of switching, log in to app. £2 monthly fee. Must set up two direct debits a month for £4 bonus, and then log into mobile banking once a month for £1 bonus. You must pay in £1,250 minimum each month. 39.49% Santander Edge Up account Pays in-credit interest of 2.5% on up to £25k. Santander is paying 1% cashback a month on bills up to £15 monthly and 1% on groceries, travel, fuel up to £15 monthly. No charge for using your debit card abroad. £5 a month fee. You must pay in £1,500 a month and have two active direct debits. 1% cashback on groceries, travel, fuel is being removed in September 2025. 39.94% Starling Bank current account * 3.75% linked easy-access account. Fee-free spending and ATM withdrawals abroad. Online and smartphone-only bank 15, 25 or 35% depending on credit score. Triodos Bank Promises only to lend on projects that make a 'positive impact' for people and the planet. 2.6% instant access savings. £3 monthly fee. N/A TSB Spend & Save & Spend & Save Plus £100 switch deal. Extra £210 available in cashback and other rewards. 1.7% on spending pots for 12 months. 5% monthly saver. For switch offer, complete switch and log in to app, make at least five debt card payments before 22 September 2025. Spend & Save Plus: £3 monthly fee. 39.9% Zopa Bank 2% interest on current account balances fixed for 12 months (uncapped), 7.1% regular saver, 2% cashback on bills (only up to £30 a year), fee-free spending abroad Online and mobile app only. N/A Best bank switch offers 1. First Direct: Great for customer service First Direct's offering £175 to switch to its current account. There's no closing date for the offer, but the bank says it can withdraw it at any time. You can get the bonus by: Opening an account and switching within 45 days using the Current Account Switch Service, including at least two direct debits or standing orders. Depositing £1,000, making five debit card payments, and logging on to digital banking within those 45 days. You won't be eligible if: You've had a First Direct product or opened an HSBC current account since 1 January 2018. We like: First Direct is well regarded for its customer service, even though it has no physical branches. There's no fee for using your card abroad, and you have a £250 interest-free overdraft (it's 39.9 per cent variable above that, making a representative rate of 30.5 per cent APR variable). Watch out for: The lack of physical branches could be a problem for some, although you can pay in cash and cheques at HSBC and Post Office branches. 2. Barclays: £175 to switch but you must join Barclays Blue Barclays is offering £175 just like First Direct, but you must join Blue Rewards which costs £5 a month. You can get the bonus by completing these steps by 28 August 2025: Use the Barclays app to open a Barclays Bank Account or Premier Current Account. Join Blue Rewards, which costs £5 a month and you must also pay at least £800 in monthly – you don't need to do this if you've opened a premier account. Switch using the Current Account Switch Service in the app, including two direct debits at least, and pay £1,500 into the account. You won't be eligible if: You've had a switch offer from Barclays before, or you opened a current account with Barclays before 15 July 2025. We like: You get an Apple TV+ subscription, as well as 15% cashback at popular retailers including Asos and Currys. You can also open a Rainy Day Saver account when you have Blue Rewards, which currently pays a generous 4.61 per cent interest variable on balances up to £5,000, reducing to 4.36 per cent from 4 August 2025. Watch out for: The £5 a month fee for Blue Rewards – you should work out whether the perks are worth the monthly fee for you. 3. NatWest: £125 plus another £50 for opening a digital savings account There's £175 up for grabs with NatWest but getting the full amount hinges on opening two different types of bank account. You can get the bonus by: Opening an eligible Select or Reward account. Switching using the Current Account Switch Service, paying in £1,250 within 60 days and logging in to the mobile app makes you eligible for £125. Opening a Digital Regular Saver within 60 days of the switch then gives you a further £50. You won't be eligible if: You've had a switch offer from the NatWest Group before (which includes Royal Bank of Scotland or Ulster Bank). You can't already have a current account with NatWest or one of its other brands. Watch out for: The maximum you can pay in to NatWest's regular saver is £150 monthly. Best current accounts with interest Current account in-credit interest has dwindled in recent years, with many banking providers offering customers little to no interest – but deals are still available. 1. Nationwide: 5% on balances up to £1,500 Nationwide has an introductory 5 per cent fixed interest rate on FlexDirect current account balances. The rate is available for new accounts on balances up to £1,500 for the first 12 months, so you'd earn £75 if you had at least £1,500 in your account for the whole year. You can get the introductory interest by: Opening a new FlexDirect account (you won't get the boosted rate if you've received it or had a FlexDirect account before). Paying in at least £1,000 a month. We like: Nationwide also pays 1 per cent cashback on qualifying spends using your FlexDirect debit card, up to £5 a month. In recent years, qualifying current account customers have benefited from the £100 Fairer Share payouts, which aren't guaranteed but have been a much-loved bonus. Britain's biggest building society has also promised to keep branches open - and in many places where rival banks have shut it has the last branch in town. Watch out for: Interest drops to zero if your monthly deposit into your account is less than £1,000. The interest rate also plummets after the first year to 1 per cent variable, so you should consider moving your money elsewhere after the introductory period is up. Support: Nationwide is worth considering for in-person banking - it's promising to keep all its branches open until 2028. 2. Kroo: 3.15% on your balance Kroo is a new challenger bank that's offering 3.15 per cent interest variable on balances up to £500,000. You can get the interest by: Opening a current account by downloading the Kroo app on your mobile phone. We like: There are no particular hoops you need to jump through to get the interest. You can use your debit card for free abroad. Watch out for: Kroo is a new bank and some may prefer to go with established names. That being said, your money's protected up to £85,000 through the Financial Services Compensation Scheme (FSCS). You should also keep in mind it's app-based, similar to Monzo and Starling. Other banks to consider for in-credit interest Santander Edge Up: Santander pays monthly interest of 2.5 per cent variable on balances up to £25,000, but this is a rewards account that charges £5 a month. Zopa Bank: Zopa's current account – called Biscuit – offers 2 per cent on your balance. We like that it's uncapped and fixed for 12 months. But after that it's variable. Best bank accounts for cashback Unfortunately, many banks have been making their cashback deals far less attractive, with Chase restricting eligible transactions earlier this year – and Santander set to follow suit in September. 1. Chase: 1 per cent cashback a month up to £15 Chase is part of US financial giant JP Morgan and launched in Britain in 2021. It's offering 1 per cent cashback up to £15 a month on groceries, public transport and fuel and EV charging for the first year. You can get the cashback by: Opening an account as a new customer and using your debit card to spend on eligible categories. After your first year you can continue to earn cashback but you must pay at least £1,500 into your account each month. We like: There are no fees for using your debit card abroad and no monthly fee. You can also open a boosted savings account that pays a 2.25 fixed interest rate boost for your first year, on top of the standard variable rate, currently 2.75 per cent – making the boosted rate 5 per cent. Watch out for: Chase is a digital-only bank that requires an app to join, so it's worth looking elsewhere if you prefer to bank in-branch. Its cashback also used to be far more generous, offering 1 per cent on most debit card spending. 2. Santander Edge Up: Up to £30 cashback available a month (but not for long) Santander's Edge Up account offers 1 per cent cashback on both debit card spending and direct debits, with up to £30 per month available – although there's a £5 monthly fee. You can get the cashback by: Paying by direct debit for household bills including council tax, gas and electricity, mobile, landline, broadband and paid-for TV packages, with cashback capped at £15 a month. Paying by debit card for essential grocery shopping and transport-based debit card spending, such as for fuel and train tickets, with cashback again capped at £15 a month (but Santander is removing this cashback in September). Paying £1,500 a month into the account and having two active direct debits. We like: There's no charge for using your debit card abroad and you can get 2.5 per cent interest variable on balances up to £25,000. Watch out for: The £5 monthly fee, as well as the fact that Santander is removing the cashback on supermarkets and travel from 9 September 2025 – making cashback far less attractive. Also keep in mind that most customers won't get close to the potential £30 a month. They would need to spend at least £1,500 a month on eligible essential debit card spend and £1,500 a month on eligible monthly bills paid by direct debit. A good option for completely digital banking The rise of digital-first challenger banks has given customers far more choice over where to keep their money. 1. Starling Bank: voted great for customer service Starling Bank is an online-only challenger bank that was recently voted the second-best British organisation for customer satisfaction, behind First Direct. It launched in 2014 and has grown substantially since then. We like: You can get a linked easy access savings account that offers a generous 3.75 per cent interest variable on your money. There are no fees for using your debit card abroad and Starling says it offers 24/7 support from a human UK-based customer service team. The app offers useful tools such as automatically saving spare change and bill split features. Watch out for: There are no physical branches, so if you prefer in-person banking then you should look elsewhere.
Daily Mirror
31-07-2025
- Business
- Daily Mirror
Barclays and NatWest among banks offering up to £175 for switching accounts
You can get your hands on the free money for switching Financial specialists have pinpointed four banks offering up to £175 for switching accounts now. These deals not only provide free cash, but some also feature ongoing cashback and extra perks. Banks regularly offer financial incentives for account switching as a strategy to entice new customers. However, these deals are usually available for limited periods - making it beneficial to keep track of the best options for your situation. As reported by Chronicle Live, the consumer guidance website Money Saving Expert, founded by Martin Lewis, highlighted the current available deals through its team. It stated: "Banks sometimes offer switch incentives – free cash, boosted savings rates or other perks – to new customers who switch in an existing current account to a new current account with them. "Essentially, banks want your custom and switch bribes are a double win for banks – you not only join them, but you leave one of their rivals." At present the following banks are offering complimentary cash for switching: First Direct - £175 TSB - £100 Barclays - £175 Natwest - £125 First Direct If you switch to First Direct's first account you could be entitled to a free £175. This will also allow you to access a savings account with seven per cent interest and a £250 interest-free overdraft. How to get the £175 bonus: You can't have ever had any product with First Direct You can't have opened an HSBC current account since January 2018 Open the account in-app (online for joint accounts). Switch in an account from a different bank including two or more direct debits or standing orders within 45 days Pay in £1,000 or more and make five or more debit card payments within 45 days The £175 is paid by the 20th of the following month after you meet the switch bonus criteria. TSB By switching to TSB's spend and save account you can get £100 free upfront as well as £15 a month cashback for six months and a choice of an extra reward in March 2026. How to get the £100 bonus: You can't have had a switch bonus from TSB since 1 October 2022 Open the account online, in-app or in branch Before 22 September switch in an account from a different bank, spend on the debit card five or more times and log in to the mobile app The £100 will then be paid between 6 and 12 October. Barclays Switching to a Barclays bank account can get you a free £175, 4.61 per cent interest on up to £5,000, plus Apple TV+ & Major League Soccer Season Pass subscriptions. How to get the £175 bonus: You can't have opened a Barclays current account on or before 15 July 2025 You can't have ever received switch cash from Barclays before Open a sole account via Barclays' app (no joint accounts). Switch in an account from a different bank, including two or more direct debits by 28 August – you must complete the switch within 30 days of starting it Join its Blue Rewards scheme (there's a £5 monthly fee, and you'll need to pay in £800 or more each month and register for digital banking) Pay in at least £1,500 within 30 days of opening the account The £175 is paid within 28 working days of meeting all the criteria. Natwest You can get £125 for free upfront, plus £50 to open 5.5 per cent interest linked regular saver, and £36 a year cashback by switching to a Natwest reward account. How to get the £125 bonus: You can't have ever received a switch bonus from NatWest, RBS or Ulster Bank before Open a new NatWest Reward or Select account Switch in a non-NatWest, RBS or Ulster Bank account online or via the mobile app Pay in £1,250 or more and log in to mobile banking within 60 days The £125 is paid within 30 days of meeting the above criteria. To get the extra £50 bonus you must have qualified for and received the £125 bonus above. You will also need to open a new digital regular saver online or via the app within 60 days of switching.
The Sun
31-07-2025
- Business
- The Sun
Bank with 1.9million customers to make seven changes to account perks TOMORROW – is your summer holiday affected?
A MAJOR bank with 1.9million customers is making a huge change to account perks from tomorrow. First Direct is overhauling the travel insurance cover provided to First Directory customers. 1 First Directory is a £15-a-month packaged account that gives current account holders perks like worldwide travel insurance, mobile phone cover, and breakdown assistance. Although the account has been closed to new customers since 2020, thousands of existing users still depend on its benefits. Effective from August 1, Aviva Insurance Limited, which provides the worldwide travel insurance for First Directory customers, is making changes to the policy. Some areas of cover are being reduced, but there are also improvements in certain benefits. There's good news for holidaymakers planning excursions, as the £250 limit for cancelled trips has been removed. This gives customers better protection if pre-booked plans fall through. However, several key protections are being tightened. hospitalised for more than 24 hours. The policy will only cover costs for people insured under your plan, meaning if you're travelling with uninsured friends or family, their expenses won't be covered if the trip is cancelled. Trips for medical reasons, including elective procedures like cosmetic surgery or dental work, are no longer covered, and costs for medical tests or vaccinations required for travel are excluded. Golfers will now face a £250 cap on cancelled green fees, and First Direct has introduced stricter cancellation rights, allowing them to end your policy if you're abusive to staff or fail to pay your account premium. SPENDING ABROAD: Tips to Avoid High Fees If you're a First Directory customer, make sure to check the updated terms to see how the changes could impact your holiday plans. Customers will still benefit from mobile phone insurance, which covers loss, theft and accidental damage, though an excess applies to claims. Breakdown assistance continues to be provided by the RAC too. Although new customers can no longer sign up for First Directory, there are plenty of other packaged bank accounts available that offer similar perks. What should you look for in a good travel insurance policy? TRAVEL insurance is there to help you when something goes wrong with your holiday. It can help cover your bills if your flights are cancelled, your luggage is lost, or you need medical help when travelling abroad. The two main types of travel insurance are single and multi-trip cover. There are also often separate packages available depending on where you're travelling to - for example, if you're remaining in Europe compared to further afield. However, policies can vary a great deal, but here are some "must have" features you should look out for, according to the Money Advice Service: Medical expenses - A good policy will give cover of £1million or more for travel in Europe and £2million or more for the USA Repatriation service - The costs of getting you back to the UK for medical reasons should be covered automatically by your policy Cancellation and curtailment - A good policy will cover you for £2,000 or more if you have to cancel or shorten your holiday Missed departure - Covers additional accommodation costs and travel expenses up to £500 or more if you miss your flight due to circumstances out of your control Delay - You'll usually be covered for £250 or more if your travel plans are delayed due to circumstances out of your control Baggage cover - Covers you if your baggage is lost, damaged or stolen. Look for policies that have cover of £1,500 or more. What other package bank accounts are on offer? Virgin Money's Club M packaged bank account is one of the cheapest on the market, costing £12.50 a month or £150 a year. It comes with free gadget insurance, worldwide family travel insurance and UK and European breakdown cover. The gadget cover protects both mobile phones and other tech, such as tablets and laptops. Customers do not need to make a minimum monthly payment to qualify for the account. According to the bank, equivalent policies would cost upwards of £500 a year, so customers save £350 with this account's perks. Nationwide 's FlexPlus packaged bank account costs £18 a month and offers a host of additional services and perks. These benefits include worldwide travel insurance, mobile phone insurance, breakdown cover, and preferential rates on loans and overdrafts. The account does not require a minimum pay-in, and customers get worldwide travel insurance for family trips of up to 31 days. Mobile phone insurance is also provided for all members in the same household, and it covers for loss, theft, damage and faults. Additionally, account holders can use their debit card abroad without incurring non-sterling transaction fees. FlexPlus customers also get vehicle breakdown cover in the UK and the rest of Europe, even if somebody else is driving. The Co-operative Bank's Everyday Extra account also costs £18 a month and offers worldwide travel insurance and UK & European breakdown cover. Meanwhile, Halifax's Ultimate Reward package bank account costs £19 a month or £228 a year. Customers do not need to make a minimum monthly payment to qualify for the account. The product comes with free gadget insurance, worldwide family travel insurance, UK breakdown cover and home emergency cover. Lloyds Bank's Club Lloyds Platinum account offers worldwide family travel insurance, AA breakdown cover, and mobile phone insurance. It costs £22.50 a month, plus an additional £5 Club Lloyds fee. As part of the perks, customers can enjoy free lifestyle benefits, choosing between 12 months of Disney+ or six cinema tickets. The account also provides exclusive savings and mortgage rates, along with the chance to earn interest on your current account balance. Plus, customers can earn up to 15% cashback on debit card purchases at selected retailers. If you only need European travel insurance, NatWest's Reward Silver account could be a great option. It costs £10 a month and provides cover for trips of up to 22 days within Europe. Customers also get free mobile phone insurance and can use their debit card abroad without incurring extra charges. Those looking for worldwide travel insurance can apply for a Reward Platinum account which costs £22 a month. This account also includes UK breakdown cover. How do I switch bank accounts? SWITCHING bank accounts is a simple process and can usually be done through the Current Account Switch Service (CASS). Dozens of high street banks and building societies are signed up - there's a full list on CASS' website. Under the switching service, swapping banks should take seven working days. You don't have to remember to move direct debits across when moving, as this is done for you. All you have to do is apply for the new account you want, and the new bank will tell your existing one you're moving. There are a few things you can do before switching though, including choosing your switch date and transferring any old bank statements to your new account. You should get in touch with your existing bank for any old statements. When switching current accounts, consider what other perks might come with joining a specific bank or building society. Some banks offer 0% overdrafts up to a certain limit, and others might offer better rates on savings accounts. And some banks offer free travel or mobile phone insurance with their current accounts - but these accounts might come with a monthly fee.
Daily Mail
29-07-2025
- Business
- Daily Mail
Your chance to bag £175 by switching to the bank voted Britain's BEST for customer satisfaction
Products featured in this article are independently selected by This is Money's specialist journalists. If you open an account using links which have an asterisk, This is Money will earn an affiliate commission. We do not allow this to affect our editorial independence. Banks First Direct and Starling have been named the best British organisations for customer satisfaction, even though they have no physical presence on the high street. The banking duo beat high street staples M&S, John Lewis and Holland & Barrett to the top two spots in the UK Customer Satisfaction Index. Nationwide dropped from second place in July 2024 to fourth, despite a promise to keep all of its branches open until 2028 – with an advertising campaign featuring the actor Dominic West. First Direct* is currently giving £175 to those who switch their current account, with terms and conditions applying. You can read more details on what you need to do to qualify below. Average satisfaction with banks and building societies has increased since July 2024 and banking is now the second best-performing sector overall, behind non-food retail. Jo Causon, chief executive of the Institute of Customer Service, which runs the survey, said this reflects improved customer-focused regulation, forcing 'boards to increase their focus on customer experience, including better communication, greater clarity on product offerings and refocusing staff on customer outcomes.' Switching terms Account details First Direct 1st Account* To get the £175 you must:- Not have had a First Direct product or HSBC Current Account since Jan 2018 - Switch using the Current Account Switching Service within 45 days of account opening, including 2+ direct debits or standing orders- Deposit £1,000, make 5+ debit card payments and log in to digital banking within 45 days - Requires credit check - 0% EAR variable on overdraft up to £250, 39.9% EAR variable thereafter; representative rate 30.5% APR variable- For customers with an offset mortgage linked to a 1st Account, interest-free limit won't apply Great customer service 'not as simple' as branches versus phone and digital First Direct* is well-regarded for its fast 24/7 phone-based customer service and has also made improvements to its mobile app in recent years. It leapt from 14th place in last year's satisfaction index to the top of this year's table. Starling Bank* is a digital-first challenger bank that's grown substantially since it launched in 2014, and itself has seen a sizable jump from last year's satisfaction survey, going from sixth place to second. The Institute of Customer Service puts this jump in performance down to the introduction of the FCA's Consumer Duty rules, which aim to make sure financial firms are delivering good outcomes for customers. 'The strong performance of First Direct, Starling and Nationwide shows that good customer service is not as simple as branches versus telephone and digital, human versus AI or bank versus building society,' said Jo Causon. > Learn more about First Direct and switch* > Learn more about Starling Bank and switch* Should you switch bank? Many people remain with their bank for decades, despite there being potentially better current accounts on offer elswhere. Perks can range from interest on balances, to fee-free spending overseas, while different banks' apps and features can make a difference to how you manage your money. This is Money has long been a fan of both First Direct and Starling's current accounts. The former has a strong history of good customer service and the latter has a good app and no charges for spending abroad. In our view, Nationwide, in fourth place in terms of customer satisfaction, is also a great choice for earning interest on the cash in your account, offering 5 per cent on FlexDirect balances up to £1,500 in the first year. After this it drops to just one per cent. There's also up to £5 cashback available each month on debit card purchases for the first year. First Direct's £175 offer* is a great option for earning cash on your switch, with £175 up for grabs. You must be a new customer and use the Current Account Switch Service to bag the deal. Make sure you read the terms and conditions before going ahead. There isn't currently an end date for the offer. But First Direct says it can be withdrawn at any time, so if you want to make the switch, it makes sense to do so while you still can.
Daily Mail
26-07-2025
- Business
- Daily Mail
Time's running out to grab bank switch cash
It's nearly your last chance to get one of the most generous payouts for switching bank accounts. Santander will end its £180 switching bonus on Wednesday, July 30, at 11.59pm. The deal is available to customers who switch through the Current Account Switch Service (Cass) to a Santander Everyday, Edge or Edge Up account. The Everyday account is free, while the Edge and Edge Up accounts offer cashback but have a £3 and £5 monthly fee, respectively. To qualify, customers must pay in at least £1,500 within 60 days and at least two active direct debits need to be set up. Eligible customers will get the £180 payment within 90 days of starting the switch process if all the criteria have been met. Rival bank switching offers are also available. Lloyds Bank is offering the biggest bonus of £185 to customers who open a Club Lloyds account. You pay a £5 monthly fee for this account, in exchange for a range of perks, and must have at least three active direct debits to get the switching bonus. The £5 fee is refunded in all months that a customer pays in at least £2,000. Elsewhere, First Direct is paying £175 to new customers who move to its First Account, while Barclays is offering the same sum to new customers opening a Blue Rewards or a Premier current account by Thursday, August 28.
