Compare Latest Current Account Deals
NatWest £150 pounds for switching bank account
Why we like it: £175 cash to switch and earn cashback every month on selected household bills and essential spend*. Earn 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 7.00% AER / 6.78% 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 £175 cash you'll have to complete a full switch to a Santander Edge current account, set up 2 active Direct Debits and pay in £1,500 within 60 days. T&Cs apply
Why we like it: £175 cash to switch and earn cashback every month on selected household bills and essential spend plus interest on your balance*. 3.50% AER/3.45% 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 £175 cash you'll have to complete a full switch to a Santander Edge Up current account, set up 2 active Direct Debits and pay in £1,500 within 60 days. T&Cs apply
How to earn £175 for opening a bank account
Whilst getting a nice cash reward for moving is a great bonus if you are looking to move your current account to a different provider, there are other factors to consider.
Factors such as what interest rate you will pay on your overdraft if used, the rate of interest (if any) you will earn on your savings as well as mobile banking features which may or not be important to you.
Santander Edge Current Account - £175 cashback for switching
Santander are offering a £175 incentive to switch to their Edge Current Account. To qualify 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 Edge Up Current Account - £175 cashback for switching
Santander also offer a £175 bonus if you switch to their Edge Up Current Account. Again, to qualify you 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
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.
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.
