Bank switching offers (October 2026)
Every standard UK switch bonus we could find, with the Direct Debits, pay-in and exclusions each one needs, checked against each bank’s own offer page.
Seven standard switch bonuses are open, paying £175 to £300. Most need a full switch through the Current Account Switch Service with two or three Direct Debits moving from your old account, plus a pay-in within 30 to 60 days. NatWest and RBS don’t set a Direct Debit minimum.
Switch bonuses at a glance
| Bank | Bonus | Direct Debits to switch | Main other conditions |
|---|---|---|---|
| Barclays | Up to £300 (£150 + £30 a month for 5 months) | At least 3 active | £2,000 salary paid in within 30 days; 10 debit card payments a month for the monthly rewards; apply in the app |
| HSBC | £220 | At least 2 | Pay in £2,000 and spend £500 on the debit card within 60 days; open in the app |
| first direct | £210 (£175 + £35 boost) | At least 2 Direct Debits or standing orders | Pay in £1,000, make 5 card payments and log on within 45 days; boost for accounts opened by 2 December 2026 |
| Lloyds (Club Lloyds) | £200 | At least 3 active, set up before the switch starts | Start the switch by 9 December 2026; standing orders and subscriptions don’t count |
| NatWest (Select or Reward) | £200 | No minimum set | Pay in £1,250 and log in to the app within 60 days |
| RBS (Select or Reward) | £200 | No minimum set | Pay in £1,250 and log in to the app within 60 days |
| Nationwide (Flex accounts) | £175 | At least 2 | Pay in £1,000 and make 1 card payment within 31 days; switch must complete within 28 days |
Barclays, HSBC and NatWest also run larger bonuses on their premier accounts for high earners or people with large savings. Those have their own income and balance rules, so we’ve left them out.
Who can’t get each bonus
Most switch bonuses are for new customers or people who haven’t had one from the same bank group recently. These are the main exclusions:
- Barclays: new sole customers only. You can’t already hold a Barclays current account, have had a Barclays switch bonus before, or open a joint account.
- HSBC: not if you’ve held an HSBC UK or first direct current account since 1 January 2023. The Basic and Premier accounts don’t qualify for this offer.
- first direct: only if you’ve never held a first direct product, and not if you opened an HSBC current account on or after 1 January 2018.
- Lloyds: not if you switch from Halifax or Bank of Scotland, or have had a Lloyds, Halifax or Bank of Scotland switch bonus since 1 January 2023.
- NatWest and RBS: not if anyone on the account has had a NatWest Group switch bonus before, held a current account with that bank on 6 May 2026, or is switching from another NatWest Group bank (NatWest, RBS or Ulster Bank).
- Nationwide: not if you switch from Nationwide or Virgin Money. It pays at most once on a sole account and once on a joint account.
Want to switch more than once? See how often you can switch bank accounts for a bonus.
What the Direct Debit rules mean
Every offer above needs a full switch through the Current Account Switch Service. The Direct Debits must be on your old account so they move across in the switch. Setting them up on the new account doesn’t count.
- Set them up early. A new Direct Debit can take several working days to become active. Lloyds says Direct Debits set up after the switch starts won’t count. See how long a Direct Debit takes to set up.
- Check the type. first direct accepts standing orders. Lloyds excludes standing orders and subscriptions. See what counts as a qualifying Direct Debit.
- Count carefully. Barclays and Lloyds need three. HSBC, first direct and Nationwide need two. See how many Direct Debits you need for a switch bonus.
- Don’t cancel too soon. Keep them running until the bonus is paid. See when to cancel Direct Debits after switching.
This page summarises each bank’s published offer. It isn’t financial advice or a ranking of the best accounts. Read the full terms on the bank’s website before you switch. The bank decides who gets paid.