Already have a bank account but wondering if you could do better? Whether you’re tempted by a switching bonus, looking for better features, or just fed up with your current provider, switching your current account could be a smart financial move.

Here’s what to consider – and how to make it happen with minimal fuss.

Why switch bank accounts?

Most people open a bank account and stick with it for years, but banks aren’t all the same. If your current account no longer suits your needs, or you’ve seen a better offer elsewhere, it might be time to make the switch.

Common reasons to switch include:

  • Cash incentives: Many UK banks offer switching bonuses of around £100 - £200 to attract new customers.

  • Better interest rates: Some current accounts pay interest on your balance – ideal if you tend to keep money in your account.

  • Superior apps and online banking: Some banks offer more intuitive mobile apps, budgeting tools, or better customer service.

  • Lower or no fees: If your current account charges a monthly fee, you might be able to find a free alternative with similar features.

  • New joint account needs: Moving in with a partner or getting married? Switching to a joint account could help manage shared bills and spending.

How does switching work?

Switching current accounts is easier than ever thanks to the Current Account Switch Service (CASS), which most UK banks and building societies participate in. This service saw a whopping 1.4 million switches in just one year.

If both your old and new bank use CASS:

  • Your switch will be completed in seven working days.

  • All your Direct Debits, standing orders and incoming payments (like your salary) will be moved automatically.

  • Any payments sent to your old account will be redirected for three years.

  • You’ll be covered by a guarantee in case anything goes wrong during the switch.

To get started, simply apply for your new account and request a switch – your new bank will handle the rest.

Several banks offer cash rewards for switching. These change regularly, but some names to look out for include:

  • Nationwide: often offers cash incentives for switching to certain current accounts.

  • First Direct: popular for its switching offers and strong customer service.

  • NatWest: runs a switching offer plus cashback if you pay in a certain amount each month.

  • Lloyds: runs switching rewards plus cash bonus for spending with your debit card.

  • Santander: runs switching deals with monthly cashback on some household bills.

Remember: switching bonuses usually come with conditions, such as switching via CASS, setting up a couple of direct debits, paying in a minimum amount each month, logging in to their mobile app or completing the switch within a set time. Always check the terms before applying.

Things to check before you switch

Before moving your money, make sure:

  • You won’t lose any essential features or benefits (e.g. an interest-free overdraft or access to savings accounts).

  • You know what payments you need to update yourself for memberships and monthly subscriptions paid by card.

  • You’ve backed up any important documents or messages stored in your old bank’s app, in case access is removed.

If you're planning a switch around payday, you might want to wait until your wages have cleared, just to avoid delays or confusion.

What if I want to keep both accounts?

You don’t have to close your old account. In fact, many people choose to open a second current account instead of switching completely. This can be useful if:

  • You want to separate spending (e.g. one account for bills, another for fun money).

  • You're opening a joint account but still want your own account for personal income.

  • You're testing a new bank’s features before committing fully.

Just remember that you may not be eligible for switching bonuses unless you complete a full switch via CASS, which typically involves closing the old account.

Next steps

Switching bank accounts can be a simple but effective way to improve your day-to-day finances. Whether you’re chasing a cash bonus, better customer service, or an account that fits your lifestyle more closely, the process is straightforward – and often rewarding.

Just take time to compare your options, read the small print, and consider how you’ll manage your money across accounts.

  • Check if your new bank supports the Current Account Switch Service (most do).

  • Compare current accounts and look out for switching incentives.

  • Choose an account type that fits your needs – whether it’s joint, high interest, or no-frills.

  • Decide if you want to keep your old account or switch everything across.

With a little planning, switching bank accounts can be a smooth move that helps you take better control of your money.

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