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Best bank switching offers UK: up to £240 free (verified 30 September 2026)

6 min read · Updated · By the HelloBonus team

The short answer

The biggest UK bank switching offer right now is Santander's £240 (switch by 7 October 2026), then HSBC's £220. Live offers: Santander £240, HSBC £220, first direct £210, Lloyds £200, NatWest £200, Nationwide £175. Switch to one bank per group in turn and the bonuses add up to £1,035. HelloBonus verified every offer on the bank's own switching page on 30 September 2026.

Every live bank switching offer, biggest first

UK current account switching bonuses, verified on each bank's own switching page on 30 September 2026. Bonuses are paid by the bank; no code needed.

  1. Santander

    £240

    Account
    Everyday Current Account
    What you must do
    Request a full switch with the Current Account Switch Service before 7 October 2026 and complete it within 60 days, with at least 2 household Direct Debits; pay in £1,500; and within 60 days put at least £200 into a Santander Regular Saver.
    Ends
    7 October 2026
    Monthly fee
    No monthly fee
    Santander's own offer page

  2. HSBC

    £220

    Account
    HSBC Bank Account
    What you must do
    Open the account in the HSBC app, then within 60 days complete a full switch (including 2 Direct Debits) with the Current Account Switch Service, pay in £2,000 and spend £500 on your debit card.
    Ends
    No end date published
    Monthly fee
    No monthly fee
    HSBC's own offer page

  3. first direct

    £210

    £175 plus a £35 boost for accounts opened 14 September to 2 December 2026

    Account
    1st Account
    What you must do
    Within 45 days of opening: switch with the Current Account Switch Service (including at least 2 Direct Debits or standing orders), deposit £1,000, make 5 or more debit card payments and log on to digital banking.
    Ends
    No end date published
    Monthly fee
    No monthly fee
    first direct's own offer page

  4. Lloyds

    £200

    Account
    Club Lloyds, Club Lloyds Silver, Club Lloyds Platinum or Premier
    What you must do
    Switch to a new eligible account with the Current Account Switch Service, moving at least 3 active Direct Debits.
    Ends
    9 December 2026
    Monthly fee
    Club Lloyds £5 a month, refunded each month you pay in £2,000 or more
    Lloyds's own offer page

  5. NatWest

    £200

    Account
    Select or Reward
    What you must do
    Complete a full switch from another bank with the Current Account Switch Service, then within 60 days pay in £1,250 (it must stay in for 24 hours) and log on to the NatWest app.
    Ends
    No end date published
    Monthly fee
    Select: no monthly fee
    NatWest's own offer page

  6. Nationwide

    £175

    Account
    FlexDirect, FlexAccount or FlexPlus
    What you must do
    Request a full switch (at least 2 Direct Debits, old account closed) and complete it within 28 days; within 31 days pay in £1,000 and make one debit card payment. Nationwide pays within 10 days.
    Ends
    No end date published
    Monthly fee
    FlexDirect and FlexAccount: no monthly fee
    Nationwide's own offer page

Ended offers, so you don't chase them: Barclays £200 (ended 27 August 2026) and Co-operative Bank £200 (ended 7 September 2026). Unlike comparison sites that still list them, HelloBonus moves an offer off this list once its end date passes.

How much can you get by switching more than once?

Up to £1,035 from today's offers. Each bank pays its bonus once per person, and banks in the same group usually count as one (HSBC and first direct are one group; NatWest, Royal Bank of Scotland and Ulster Bank are another), so the total takes the best offer per group. You switch one account at a time: open the new account, switch into it, collect the bonus, then switch that account onwards to the next bank.

  • Santander: £240. Not for: Anyone who held a Santander current account on 1 January 2026 or has had a Santander switcher incentive before.
  • HSBC: £220. Not for: See HSBC's switch terms; HSBC and first direct are one group.
  • first direct: £210. Not for: See first direct's switch terms; first direct is part of HSBC UK.
  • Lloyds: £200. Not for: Conditions and exclusions in Lloyds' switch terms.
  • NatWest: £200. Not for: Anyone who held a NatWest current account on 6 May 2026, or has had a NatWest Group cash switch incentive before (NatWest, Royal Bank of Scotland, Ulster Bank).
  • Nationwide: £175. Not for: Anyone who has had a Nationwide switch offer before.

How does a bank switch work?

  1. Open the new current account (online or in the app). Most banks run a credit check when you apply.
  2. Ask the new bank to switch you with the Current Account Switch Service (CASS) and pick a switch date. It takes 7 working days.
  3. On the switch date your balance, Direct Debits and standing orders move across and your old account closes. Payments sent to your old account are redirected automatically.
  4. Meet the bonus conditions in time: usually a pay-in amount, a number of Direct Debits, card payments or logging on to the app.
  5. The bank pays the bonus into your new account, usually within 10 to 30 days of you meeting the conditions.

The mistakes that cost people their switching bonus

  • Using a partial switch or just opening an account. Every offer here needs a full switch through the Current Account Switch Service, which closes the old account.
  • Too few Direct Debits. Santander, HSBC, first direct and Nationwide ask for at least 2; Lloyds asks for 3 active ones. Standing orders only count at first direct.
  • Missing the window. The clock usually runs from opening or from the switch request: 28 to 60 days depending on the bank.
  • Having been a customer before. Santander excludes anyone with a Santander current account on 1 January 2026; NatWest excludes anyone who held one on 6 May 2026.
  • Taking the pay-in straight back out before the bank has counted it: NatWest, for one, wants the £1,250 to stay in for 24 hours.

Codes we've checked

Monzo referral code

Banking

Up to £50

Up to £50 free when you open a Monzo account (£10 for most people)

Verified Get code

Questions people ask

What is the best bank switching offer in September 2026?

Santander's £240 is the biggest, but you must request the switch before 7 October 2026. HSBC pays £220. Verified on each bank's own site on 30 September 2026.

Is the Santander £240 switching offer still available?

Yes, until 7 October 2026: request a full switch to the Everyday Current Account before then, then complete it within 60 days with 2 household Direct Debits, pay in £1,500 and put £200 in a Santander Regular Saver.

Can you get more than one bank switching bonus?

Yes. Each bank pays once per person, so switching in turn to different banks can earn up to £1,035 from today's offers. Banks in the same group (HSBC and first direct; NatWest, RBS and Ulster Bank) usually allow only one bonus between them.

Do I have to close my old bank account to get a switching bonus?

Yes, for every offer here. A full switch through the Current Account Switch Service moves everything across and closes the old account, and that is what the banks pay for.

Is a bank switching bonus free money?

It's a cash payment from the bank for moving your current account, with no code needed. You do have to meet the conditions (pay in a set amount, move Direct Debits), and some accounts have monthly fees, which are shown in the table above.

How long does a bank switch take?

Seven working days with the Current Account Switch Service, and the Current Account Switch Guarantee covers any payment that goes wrong during the switch.

Want to know how we verify every bonus? Read our checking process.