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Switching Current Accounts

first direct

1st Account
Switch Guarantee
first direct logo

No fee

Monthly fee

£100

Switch incentive

Representative Example:

Assumed arranged overdraft £1,200: £250 interest and fee free overdraft, subject to status. If you then use an arranged overdraft you will be charged 39.9% EAR variable.

Royal Bank of Scotland

Select current account
Switch Guarantee
Royal Bank of Scotland logo

No fee

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

If you use an arranged overdraft of £1,200, the annual rate of interest that we will charge you is 39.49% (variable), 39.49% APR Representative (variable). Credit subject to status. 

NatWest

Select current account
Switch Guarantee
NatWest logo

No fee

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

If you use an arranged overdraft of £1,200, the annual rate of interest that we will charge you is 39.49% (variable), 39.49% APR Representative (variable). Credit subject to status. 

Nationwide

FlexDirect Account
Switch Guarantee
Nationwide logo

No fee

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

Based on an assumed arranged overdraft limit of £1,200 and an interest rate of 39.9% a year (variable). 39.9% APR Representative (variable). Earn 2% AER (1.98% gross p.a.) interest on balances up to £1,500 for 12 months. You’ll need to pay in £1,000 a month, not counting transfers from other Nationwide accounts or Visa credits. Online only account.

Nationwide

FlexAccount
Switch Guarantee
Nationwide logo

No fee

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

Based on an assumed arranged limit of £1,200 and an interest rate of 39.9% a year (variable). 39.9% APR Representative (variable).

Santander

Everyday Current Account
Switch Guarantee
Santander logo

No fee

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

If you use an arranged overdraft of £1,200 you will be charged 39.94% APR (variable)/ EAR (variable). Actual credit limit may differ. Arranged Overdraft Usage 39.94% APR (variable)/ EAR (variable).

Barclays

Bank Account
Switch Guarantee
Barclays logo

No fee

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

If you use an arranged overdraft of £1,200, the annual rate of interest that we will charge you is 35.0% (variable), 35.0% APR Representative (variable). Overdrafts are subject to application, financial circumstances and borrowing history.

TSB

Spend & Save Current Account
Switch Guarantee
TSB logo

No fee

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

Assumed arranged overdraft of £1,200: 39.9% APR representative variable. Subject to application, approval and repayable on demand. 

NatWest

Reward current account
Switch Guarantee
NatWest logo

£2.00

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

If you use an arranged overdraft of £1,200, the annual rate of interest that we will charge you is 39.49% (variable), 39.49% APR Representative (variable). Credit subject to status. Earn Rewards that you can redeem as cash back, gift cards or e-codes with retail partners. Must pay in £1,250 each calendar month.

Royal Bank of Scotland

Reward current account
Switch Guarantee
Royal Bank of Scotland logo

£2.00

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

If you use an arranged overdraft of £1,200, the annual rate of interest that we will charge you is 39.49% (variable), 39.49% APR Representative (variable). Credit subject to status. Earn Rewards that you can redeem as cash back, gift cards or e-codes with retail partners. Must pay in £1,250 each calendar month.

Santander

1|2|3 Lite Current Account
Switch Guarantee
Santander logo

£2.00

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

If you use an arranged overdraft of £1,200 you will be charged 39.94% APR (variable)/ EAR (variable). Actual credit limit may differ. Arranged Overdraft Usage 39.94% APR (variable)/ EAR (variable). Earn up to 3% cashback every month on selected Household bills paid by Direct Debit.

TSB

Spend & Save Plus Current Account
Switch Guarantee
TSB logo

£3.00

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

Assumed arranged overdraft of £1200: 40.1% APR representative variable. Subject to application, approval & repayable on demand. UK residents only, 18+.

Santander

1|2|3 Current Account
Switch Guarantee
Santander logo

£4.00

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

If you use an arranged overdraft of £1,200 you will be charged 39.94% APR (variable)/ EAR (variable). Actual credit limit may differ. Arranged Overdraft Usage 39.94% APR (variable)/ EAR (variable). Monthly interest of 0.30% AER/gross (variable) on balances up to £20,000. Earn interest and up to 3% cashback every month on selected Household bills paid by Direct Debit.

Thinkmoney

Current Account
Switch Guarantee
Thinkmoney logo

£10.00

Monthly fee

Switch guarantee

Switch incentive

No credit checks to open an online current account. You can apply if you have bad credit, a CCJ or going through bankruptcy. Makes managing your finances simple and hassle free: Money managers help budget bills which could improve your credit rating.

Nationwide

FlexPlus Account
Switch Guarantee
Nationwide logo

£13.00

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

Based on an assumed arranged limit of £1,200 and an interest rate of 39.9% a year (variable) 39.9% APR Representative (variable). Loaded with perks and insurance, for £13 per month.

  • Current Accounts
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  • Compare Switch Incentives

    Are you thinking of switching current accounts? Despite some current accounts being very similar in the service they provide, there can be rewards gained from switching as competitive banks and building societies try to tempt you to become a new customer.

    Switch incentives are offered to those who move their balance from one bank to another, and are often worthwhile as you won’t have to do much other than switch from one current account to another.

    What is a switch incentive?

    A switch incentive is simply a reward for switching current accounts from one bank or building society to another. It is often a cash reward that you will receive as soon as your current account balance is transferred, and is a one-time only offer with your new current bank or building society.

    With the current account switching service (CASS) introduced in 2013, you are also able to make the switch in a guaranteed 7 working days. This means that it is even easier to switch current accounts, with a guaranteed cash reward at the end.

    What is the best current account to switch to?

    The choice is completely up to you, though there are a few things that might sway your decision. The only stipulation is that it is with a different provider than you’re currently with.

    Usually the best way to choose your new account is compare how much the new provider is willing to give you as a cash reward for switching. The larger the amount, the better for you.

    You might also be swayed by certain perks that come as standard with a new packaged current account. These might include:

    • A better overdraft – your new current account might come with a larger arranged overdraft or even offer a free overdraft facility for a certain amount of time
    • Cashback – you might receive cashback on your purchases for a short period of time
    • Insurance – some packaged current accounts will come with free travel insurance, mobile phone insurance, home insurance or all of the above
    • Reward vouchers – depending on your choice of provider, you might receive reward vouchers from a popular retail store such as M&S, Tesco or Sainsbury’s
    • Access to other accounts – switching to your new provider could grant you access to further accounts with your new provider such as a savings account

    Am I eligible to switch current accounts?

    There isn’t anything standing in the way of you switching to a new provider, other than if you’re trying to switch to an account with the same provider.

    Switching current accounts will also require you to have paid off any outstanding debt with your old provider. This normally includes an outstanding overdraft facility that you will need to pay off prior to any switch occurring.

    Your new current account provider might also stipulate that you have a certain number of active direct debits, so you’ll need to make sure you meet this criteria before you switch accounts.

    Our current account providers

    We work with a huge range of providers to give you a wide selection of current accounts to choose from, ensuring you can find an account that will assist you in managing your money.

    Each provider is screened to make sure they meet our high standards before we agree to work with them. This ensures that you can trust them as much as we do, allowing you to find the best product from a reputable source.

    We have a wide range of current accounts from high street banks with thousands of branches to smaller challenger banks whose app-based current accounts can be accessed quickly and easily.

    Whether you are looking to switch to a standard current account, or find a student account with a free overdraft, you can easily browse our products and start comparing them today.

    Have a look through our list of providers to find the right current account for you.

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