SPECIAL OFFER - Switch to a 1st Account and bank £175*.
Why we like it
Get access to a Regular Saver Account - Put away between £25 and £300 for a fixed 12 month term. If you save £300 every month for 12 months and qualify for the 7.00% AER/gross p.a. interest rate, you'll earn approximately £136.50 interest (gross). Interest is calculated daily and paid 12 months after you opened the account. AER stands for Annual Equivalent Rate. This shows you what the rate would be if interest were paid and compounded each year. Gross is the rate of interest if interest were paid and not compounded each year. No partial withdrawals allowed. Early closure will result in interest being paid at the standard account variable rate. £250 interest-free overdraft (subject to status). No minimum monthly funding and no monthly account fee. No first direct fees for when spending abroad, withdrawing cash from the UK or when making a debit card payment in a foreign currency in the UK. Mobile banking app. UK based contact centre. Representative Example: How does our overdraft compare? The representative APR shows the cost of borrowing over a year, so you can use it to compare the cost of our overdraft against other overdrafts and ways of borrowing. 0% EAR variable on the first £250, 39.9% EAR variable thereafter, giving a representative rate of 30.5% APR variable (assumed arranged overdraft £1,200). For customers with an offset mortgage linked to a 1st Account, the interest-free limit will not apply. *Open a 1st account on or after 9th September and before offer is withdrawn. Switch your everyday banking to using the Current Account Switch Service (CASS). Deposit a minimum of £1,000 (in single or multiple deposits) in your account and within 45 days of opening your first direct 1st Account. Complete a full CASS switch including at least two Direct Debits or Standing Orders must be made within 45 Days of us opening your first direct 1st Account. Register and Log onto digital banking, within 45 days of us opening your first direct 1st Account. Use your new 1st account debit card at least 5+ times. Be a new customer to first direct, who has not previously held a first direct product, or has opened an HSBC current account on or after 1 January 2018
Details
Minimum Deposit for Offer
£1,000
Minimum Age
18
UK Resident
Yes
Everyday Current Account
FeaturesEarn £150 cash when you switch to a Santander Everyday current account
Open With £1
Account TypeCurrent Account
Everyday Current AccountSantander
Open With £1
Account TypeCurrent Account
FeaturesEarn £150 cash when you switch to a Santander Everyday current account
SPECIAL OFFER: Earn £150 cash when you switch to a Santander Everyday current account. To receive the £150, simply open an account, set up 2 direct debits and pay in £1,500 within 60 days. T&Cs apply*
Why we like it
No minimum monthly funding or monthly fee to maintain the account. Get cashback, vouchers, prize draws and other offers personalised to you when you use Santander Boosts (you must have a personal Santander debit or credit card, be 18 years or over and be registered for Online and Mobile Banking). Stress-free account switching in 7 days with the Current Account Switch Service. £300 ATM withdrawal per day, Arranged Overdraft facility (subject to status). Online and Mobile Banking with text and email alerts. 39.94% EAR overdraft charge. *Switch incentive available when you use Current Account Switch Service. For £150 cash you'll have to complete the full switch, set up 2 active Direct Debits and pay in £1,500 within 60 days. T&Cs apply
Details
Minimum Deposit for Offer
£1,500
Minimum Age
18
UK Resident
Yes
Edge Current Account
FeaturesEarn £150 cash when you switch to a Santander Edge current account
Open With £500
Account TypeCurrent Account
Edge Current AccountSantander
Open With £500
Account TypeCurrent Account
FeaturesEarn £150 cash when you switch to a Santander Edge current account
SPECIAL OFFER: Earn £150 cash when you switch to a Santander Edge current account. To receive the £150, simply open an account, set up 2 direct debits and pay in £1,500 within 60 days. T&Cs apply*.
Why we like it
1% cashback every month on selected household bills paid by Direct Debit, capped at up to £10 each month and 1% cashback every month on supermarket and travel spend when you use your debit card, capped at £10 each month. Access to Santander Edge Saver with 6.00% AER / 5.84% gross (variable) interest up to £4,000 with 2.50% AER / 2.47% gross (variable) bonus rate for the 12 months from opening. Get cashback, vouchers, prize draws and other personalised offers when you use Santander Boosts (must have a personal Santander debit or credit card, be 18 years or over and be registered for Online and Mobile Banking). No fees or charges for international payments or CHAPS payments. Arranged overdraft interest rate of 39.94% APR/EAR (variable). For cashback offer you must pay a minimum of £500 into your account each month, have 2 active Direct Debits, be over 18 and live in the UK permanently. Paper-free account. £3 monthly fee. *Switch incentive available when you use Current Account Switch Service. For £150 cash you'll have to complete the full switch, set up 2 active Direct Debits and pay in £1,500 within 60 days. T&Cs apply
Details
Minimum Deposit for Offer
£1,500
Minimum Age
18
UK Resident
Yes
Edge Up Current Account
FeaturesEarn £150 cash when you switch to a Santander Edge Up current account
Open With £1500
Account TypeCurrent Account
Edge Up Current AccountSantander
Open With £1500
Account TypeCurrent Account
FeaturesEarn £150 cash when you switch to a Santander Edge Up current account
SPECIAL OFFER: Earn £150 cash when you switch to a Santander Edge Up current account. To receive the £150, simply open an account, set up 2 direct debits and pay in £1,500 within 60 days. T&Cs apply*.
Why we like it
3.00% AER/2.96% gross (variable) on balances up to £25,000. 1% cashback (up to £15 a month) on selected household bills when you pay by Direct Debit. 1% cashback (up to £15 a month) at supermarkets and on travel costs when you use your debit card (exclusions apply). Make international payments with no extra fees (the bank receiving the payment may still apply charges). There's also no charge for making CHAPS payments from this account. No fees for using Santander Edge Up debit card to withdraw cash and make payments outside the UK in the local currency. Get cashback, vouchers, prize draws and personalised offers with Santander Boosts , free rewards service. Online and Mobile Banking available with text and email alerts. Must be 18 or older and live in the UK permanently. £5 monthly fee for maintaining the account that will automatically be taken from the account each month. Must pay a minimum of £1,500 into the account each month. Must have 2 active Direct Debits. Arranged overdraft facility (subject to status). If you use an arranged overdraft you’ll be charged an interest rate of 39.94% APR / EAR (variable). Online and Mobile Banking available with text and email alerts. *Switch incentive available when you use Current Account Switch Service. For £150 cash you'll have to complete the full switch, set up 2 active Direct Debits and pay in £1,500 within 60 days. T&Cs apply
If you are looking to move your current account to a different provider, there are various factors to consider when making your choice. Issues like what interest rate you will pay on your overdraft and earn on your savings will be important, but for many switching incentives are a key decider.
Many providers now make current account switch offers, which include cash when you change accounts and cashback for things like having Direct Debits coming out of your account or paying household bills from the account. These benefits can swiftly add up and make a real difference to which account offers the best deal for you.
Between the various switching bonuses and cashback offers available on some of the most popular current accounts, it is possible for savvy switchers to earn £100 or more when they change account. The follow accounts will earn you at least £100 for opening a bank account either upfront or within the first year the account is open.
First Direct 1st Account offer a £175 incentive for switching to their 1st Account. You will need to switch your everyday banking to First Direct using the Current Account Switch Service including at least two Direct Debits or Standing Orders, deposit a minimum of £1,000 (in single or multiple deposits) and register and log onto digital banking within 45 days of opening your first direct 1st Account.
Switch to the Santander Everyday Current Account and you will receive £150 cash. You have to complete a full switch to a Santander Everyday Current Account within 60 days, set up 2 Direct Debits, pay in £1,500 and log into Online or Mobile Banking.
Santander are offering a £150 incentive to switch to their Edge Current Account. To qualify, again, you must complete a full switch to a Santander Edge Current Account using the Current Account Switch Service, set up 2 active Direct Debits and pay in £1,500 within 60 days
Santander also offer a £150 bonus if you switch to their Edge Up Current Account. To qualify you complete a full switch to a Santander Edge Up Current Account using the Current Account Switch Service, set up 2 active Direct Debits and pay in £1,500 within 60 days
Is it worth opening a new bank account for a good switching offer?
When thinking about opening a new bank account, switching offers can be a good deciding factor, but it is also important to think about your long term needs. For example a Santander 1|2|3 Current Account offers interest of 1.75% AER on your entire balance up to £20,000, plus cashback of between 1-3% on a range of household bills.
This may not be the most attractive offer upfront, but it means if you are likely to keep a large balance in your account and pay a number of household bills out of your account, the interest and cashback you earn can soon add up and outweigh most switching offers.
It is therefore a good idea to think about exactly what you need from a current account and how you are likely to use it before making a decision about opening a new bank account. This can help to ensure you get the most out of your account on an ongoing basis.
Find the best bank accounts to switch to
Whatever your reasons for opening a new bank account, it is a good idea to spend some time researching your various options before making the switch. Check out the range of current accounts on offer from across the market to see which offers the best deal for you.
