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Our best bank switching offers

Get up to 175* for switching your current account

Many banks often offer lucrative deals for simply switching your current account

Switch current accounts

Switch current accounts or get a new one with ongoing rewards
MonzoBarclaysChaseHSBCfirst directTSBSantanderNatWestMonzoBarclaysChaseHSBCfirst directTSBSantanderNatWest
*Switching terms my vary depending on the provider. T&Cs apply.
Last updated
April 16th, 2024

Current account switching offers

What is the Current Account Switch Service?

Until 2013 switching from one bank account to a new one was an unpleasant experience. It took up to 30 days or more and customers were often left with direct debits that weren’t moved and other headaches. But that changed with the launch of the Current Account Switch Service (CASS) in 2013, which was designed to introduce more competition among banks and building societies. 

The idea was to make switching banks simple, reliable and stress-free. The service is free-to-use and available to all individuals, small businesses, charities and trusts in the UK. 

Now switching banks takes just seven working days, and more importantly, the service is backed by a switch guarantee. This ensures that all payments associated with the customer’s old account, will be switched to the new account and ready for use with effect from a pre-agreed switch date. But if something goes wrong, for example you’re charged for missed payment, you’ll be reimbursed for any charges.

 

No. of current account switches in 2023[1]
1,312,103

Why should you look for the best switching offers

Switching to a new bank account can offer numerous advantages:

Cash incentives

Many banks now offer money to switch your bank which can significantly boost your finances.

Better features

New accounts may come with improved features, such as higher interest rates, lower fees, or better customer service.

Convenience

Some accounts offer additional perks like overdraft facilities, cashback, or mobile and travel insurance.

How to switch current accounts?

Choose a new bank or building society

Choose a new bank or building society

Research and select the bank or building society you want to switch to. Ensure they participate in the Current Account Switch Service.


Open your new account

Open your new account

Visit the branch or website of your chosen bank or building society and open a new current account. Make sure to provide the necessary identification and proof of address.


Request the switch

Request the switch

Inform the new bank or building society that you want to use the Current Account Switch Service to switch your account from your current provider. They will guide you through the process and provide you with the necessary forms or information.


Complete the switch application

Complete the switch application

Fill out the Current Account Switch Agreement and any other required forms provided by your new bank or building society. You will need to provide details about your current account, including the account number, sort code, and details of the bank or building society you're switching from.

Choose your switch date

Choose your switch date

Select a convenient date for the switch to take place. The Current Account Switch Service ensures that the switch is completed within seven working days.


Relax

Relax

Once the switch process begins, your new bank or building society will handle everything. Your direct debits, standing orders, incoming payments, and your balance will be transferred to your new account automatically.

Get confirmation of the switch

Get confirmation of the switch

Once the switch is completed, you'll receive confirmation from both your old and new bank or building society. Your old account will be closed, and any remaining balance will be transferred to your new account.

How to switch current accounts?

Choose a new bank or building society

Choose a new bank or building society

Research and select the bank or building society you want to switch to. Ensure they participate in the Current Account Switch Service.


Open your new account

Open your new account

Visit the branch or website of your chosen bank or building society and open a new current account. Make sure to provide the necessary identification and proof of address.


Request the switch

Request the switch

Inform the new bank or building society that you want to use the Current Account Switch Service to switch your account from your current provider. They will guide you through the process and provide you with the necessary forms or information.


Complete the switch application

Complete the switch application

Fill out the Current Account Switch Agreement and any other required forms provided by your new bank or building society. You will need to provide details about your current account, including the account number, sort code, and details of the bank or building society you're switching from.

Choose your switch date

Choose your switch date

Select a convenient date for the switch to take place. The Current Account Switch Service ensures that the switch is completed within seven working days.


Relax

Relax

Once the switch process begins, your new bank or building society will handle everything. Your direct debits, standing orders, incoming payments, and your balance will be transferred to your new account automatically.

Get confirmation of the switch

Get confirmation of the switch

Once the switch is completed, you'll receive confirmation from both your old and new bank or building society. Your old account will be closed, and any remaining balance will be transferred to your new account.

Worried about switching current accounts? Don't be.

Many people are wary of switching bank accounts as they worry things might go wrong. This is understandable given that many people have their mortgage and rent payments, as well as other regular bills being paid from their bank accounts. And any disruption could cause a lot of headaches. 

But this is what the CASS was created to address. With the Current Account Switch Guarantee, customers can have the peace of mind to switch their current account to a better more suitable option for them. This in turn incentivises banks and building societies to offer better products to attract new customers, which results in better outcomes for everyone.


Tips on how to make the switching process easier

Make a list of regular payments

List down all your direct debits, standing orders, and recurring payments linked to your current account. This helps ensure none are missed during the switch.


Notify relevant parties

Inform companies or organisations about your account switch. This includes your employer for salary payments, utility companies, gym memberships, insurance providers, etc. Provide them with your new account details to avoid any disruptions in payments.

Coordinate switch date carefully

Choose a switch date that aligns with your financial calendar, such as after payday and before major bill payments are due, to minimise any disruptions.

Keep your old account open

Ensure you have enough funds in your old account until the switch is complete to cover any outstanding payments or direct debits incase anything goes wrong.

Stay informed

Keep track of the switch progress. Monitor both your old and new accounts to ensure all payments are redirected correctly. Confirm closure of your old account once the switch is completed.

Contact support if needed

If you encounter any issues or have specific concerns during the switch, don't hesitate to reach out to the customer service teams of both your old and new banks or building societies for assistance

Be patient

The Current Account Switch Service is designed to complete the process within seven working days. However, some payments or processes may take a bit longer to fully transition. Allow some time for all transfers and adjustments to take place smoothly.

What if there are no switching offers available?

There may be a time when there are no switching offers available. But if you’re unhappy with your existing bank or building society, there are still options that offer other benefits that you could consider. These could include cashback offers on your spending, being paid interest on your balance, discounts at specific retail stores, or add-ons such as breakdown cover or mobile phone insurance.

Our best current accounts with rewards

Our editors have picked out our top current account for rewards.

Editor’s pick

Chase has 1% cashback on everyday spending for a whole year. This is an attractive reward for customers as the cashback balance will soon grow. You’ll also get access to its competitive easy-access savings account.

Author image
savings expert
Card
Chase Current Account
Account fees & requirements
No monthly fee
Interest rate
1% AER

Representative example: N/A - no credit facility offered.

Show Details
Eligibility
Maximum Age
Unlimited
Maximum Investment
Unlimited
Minimum Age
18 years
Editor’s pick
Card
Chase Current Account
Account fees & requirements
No monthly fee
Interest rate
1% AER

Representative example: N/A - no credit facility offered.

Show Details
Eligibility
Maximum Age
Unlimited
Maximum Investment
Unlimited
Minimum Age
18 years

Chase has 1% cashback on everyday spending for a whole year. This is an attractive reward for customers as the cashback balance will soon grow. You’ll also get access to its competitive easy-access savings account.

Author image
savings expert

Explore our current account guides

Find out more about current accounts and banking with our in-depth guides
How often can you switch bank accounts?
How often can you switch bank accounts?
What different types of bank accounts are available to you?
What different types of bank accounts are available to you?
How to pay off your overdraft fast
How to pay off your overdraft fast

About the author

Salman Haqqi
Salman Haqqi spent over a decade as a journalist reporting in several countries around the world. Now as a personal finance expert, he helps people make informed financial decisions.

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References

1. Pay.uk Current Account Switch Service statistics