If you fancy a quick £200 or more in your pocket, now’s the time to switch your bank account. Seven major banks are handing out juicy incentives – with one paying a whopping £400 just for switching in. It’s basically a legal bribe, says finance expert Alastair Douglas on his BBC podcast.
Why Switch Now? Cash Christmas Boost!
“If you want extra cash before Christmas, banks are literally paying for your custom,” says Alastair. “Unless you’re head over heels with your current bank, it pays to switch.”
The Current Account Switch Service makes it dead easy, automatically moving your money, Direct Debits and salary to your new bank – hassle-free. Over 50 banks and building societies are in on it, with more than 11 million accounts switched so far.
Bank Bonuses You Can Bag
- Barclays – £400: Switch to a Premier Current Account via the Barclays app by 27 November 2025, pay in £4,000 within 30 days and you’re set for £400 cash.
- Co-Op – £175: £100 for switching plus £25 a month for three months. Just make 10 card transactions to unlock this deal.
- First Direct – £175: A tidy switch bonus plus a 7% AER savings account and a £250 interest-free overdraft.
- Lloyds – £200: Watch out though, monthly fees of £5 or £15 apply on some accounts, and you mustn’t have switched in the past five years.
- Nationwide – £175: Fast payments within 10 days, plus 5% interest on up to £1,500 savings with their Flex Direct account.
- NatWest – £175: Add £2 monthly fees but earn up to £5 cashback each month plus your bonus, making over £200 in the first year.
- TSB – £180: £150 switching bonus plus £10 monthly cashback for three months, with perks like zero fees abroad and a £100 interest-free overdraft.
How To Claim Your Switching Bonus
Remember to:
- Switch fully using the Current Account Switch Service.
- Set up at least two active Direct Debits.
- Make qualifying deposits and transactions within the first month.
- Check the small print carefully – some banks add extra hoops to jump through.
“Loyalty doesn’t pay, but moving banks can,” says Alastair Douglas, CEO of TotallyMoney. “So don’t be put off by the switching process. It’s now simple, quick, and can put serious cash in your pocket ahead of Christmas.”
Thinking about making the move? These deals won’t last forever, so switch now and pocket easy cash!
