Perhaps you have had an account with the same bank since you were a kid and have now decided that it’s time to look for a different one. Perhaps your bank has exhausted your patience after one too many admin blunders. Perhaps you’d like some free money for switching. Here’s our round-up of the latest deals to help you decide which bank deserves your custom.
Recommended bank account switch deals October 2021
It's a competitive market out there for current accounts right now, with several banks offering incentives to encourage customers to switch their provider. Whether you're after a cash bonus or other account benefits, here are our recommended options.
- Santander is offering £130 to switch to its 123 Current Account. New account holders will also benefit from cashback when paying certain utility bills, plus monthly interest of 0.3% AER gross variable on in-credit balances of up to £20,000. It's worth noting that this account also comes with a monthly fee of £4.
- HSBC is running a deal where account switchers get £110 plus a £30 Uber Eats voucher or The Dining Out Gift Card. This offer applies to the HSBC Advance Bank Account, where a minimum of £1,750 needs to be paid in per month. There's also the opportunity to earn 1% AER gross interest with the linked HSBC Regular Saver Account.
- Royal Bank of Scotland is offering a large cash incentive for account switchers, involving a £150 bonus to new customers who "switch and stay" with its Select current account. You get £100 for the initial switch and then another £50 if you make 10 transactions every month from January to September 2022. There is no monthly fee with this account, but you'll need to pay in £1,500 in total by 31 December 2021.
Compare switching rewards and deals
From time to time, some banks offer customers a reward or a bonus for switching. Below we have listed some of the best offers currently available.
Table: sorted by interest rate, promoted deals first