What’s the best switching deal right now?

Santander’s £200 bonus is the best switching deal if you switch to its Santander Edge current account. Although it has a £3 monthly fee, Santander Edge gives you access to the Santander Edge Saver at 4% on balances up to £4,000. If you deposit the maximum amount, after a year you’ll have £160 in interest. You can also earn up to £10 cashback per month, a maximum of £120 for the year. Add that to the £200 switching bonus and you stand to earn £444 overall, once you have subtracted the monthly fee.
It’s more complicated with the Santander 123 account as it involves cashback, monthly in-credit interest and access to the Santander Regular Saver at 2.75%. If you used all these to the max, you’d get nearly £377 even after deducting the £4 monthly fee. But the cashback eligibility hurdles make it hard to achieve.
If you aren’t interested in switching to Santander, first direct still has a solid £175 switching bonus on offer and access to a Regular Saver account offering 7%. If you save the full amount of £300 per month into the savings account, after a year you’ll have £136.50 in interest. Add that to the £175 switching bonus and you stand to earn £311.50 overall.
I want to open a CO-OP bank account to get the £125 switching bonus. But I need someone to refer me. Anybody about to help.Cheers.
Hi Kevin,
Unfortunately, The Co-operative Bank’s Refer a Friend switching offer ended on 16 December 2022.
We update our best bank account switching offers page regularly, so please keep checking to see if any new switching bonuses are launched.
Thanks,
Kate
Hi Alvin,
Thanks for getting in touch with Finder.
Unfortunately, Chase is not signed up to the Current Account Switch Service. As a result, you can’t use the Current Account Switch Service to switch your current account from Chase to TSB.
In order to qualify for TSB’s switch bonus, you need to complete a full switch using the Current Account Switch Service. So a manual switch from Chase to TSB would not be eligible for the cash incentive.
Thanks,
Kate