Compare Switch Incentive Current Accounts

  • Some current account providers offer cash incentives to customers who switch bank accounts over from their current bank.
  • You can compare the switching bonuses offered by some of the UK’s leading banks in the table below.
  • Compare up-to-date information on account features to find your ideal account.

What type of current account are you looking for?

The Plus account
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The Plus account

The TSB Classic Plus account offers 5% AER interest monthly*, no maintaining the account fee and all the features you’d expect from a current account.
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*4.89% gross variable interest paid on balances up to £1,500. Please note the interest rate will be 3.00% AER/2.96% gross variable from 2 July 2019. To earn interest you must pay in £500/month, register for internet banking, paperless statements and paperless correspondence.
  • Royal Bank of Scotland logo

    RBS Select Account

    • Easy to use mobile banking app
    • Get a contactless Visa Debit card - make payments up to £30 with one tap
    • To apply, you must be 18+ and a UK resident
    • Maximum Interest (AER) [?]
      0%
    • Switching Incentive
      £125
    • Minimum Monthly Credit
      None
    • Monthly Fee
      Free

    Interest details

    • No interest is paid on in-credit balances on this account

    Overdraft details

    • £10 interest free buffer. Once buffer exceeded, you'll be charged 19.89% EAR (variable) on the whole overdrawn amount and a monthly usage fee of £6 on all arranged overdrafts
    • Other overdraft fees: please see provider website for details

    Switching incentive details

    • £175 to Switch and Stay. Receive £125 upfront and then £50 after 12 months. Eligibility criteria applies.
    • Use the Current Account Switch Service to close your current account held elsewhere and switch to us by 28 June 2019. Pay in at least £1,500 and log in to Digital or Mobile banking by 2 August 2019. Before 1 June 2020 use your Debit card linked to your opened account at least once per month.
    • Select current account - no monthly fee.
  • RBS logo

    RBS Reward Account

    • 2% back in Rewards on 7 types of household bills if paid by Direct Debit - Reward eligibility criteria apply
    • On average RBS customers earn £83 in Rewards per year. Based on monthly bills of £345 excluding the monthly £2 fee
    • To apply, you must be 18+ and a UK resident
    • Maximum Interest (AER) [?]
      0%
    • Switching Incentive
      £125
    • Minimum Monthly Credit
      None
    • Monthly Fee
      £2

    Interest details

    • No interest is paid on in-credit balances on this account

    Overdraft details

    • Arranged overdraft fees: £10 interest free buffer. Once buffer exceeded, you'll be charged 19.89% EAR (variable) on the whole overdrawn amount and a monthly usage fee of £6 on all arranged overdrafts
    • Other overdraft fees: please see provider website for details

    Switching incentive details

    • £175 to Switch and Stay. Receive £125 upfront and then £50 after 12 months. Eligibility criteria applies.
    • Use the Current Account Switch Service to close your current account held elsewhere and switch to us by 28 June 2019. Pay in at least £1,500 and log in to Digital or Mobile banking by 2 August 2019. Before 1 June 2020 use your Debit card linked to your opened account at least once per month.
    • £2 monthly fee. 2% back in Rewards on 7 types of household bills if paid by Direct Debit. Reward eligibility criteria applies.
  • RBS logo

    RBS Reward Platinum Account

    • 2% back in Rewards on 7 types of household bills if paid by Direct Debit - Reward eligibility criteria apply
    • On average RBS customers earn £83 in Rewards per year. Based on monthly bills of £345 excluding the monthly fee of £20
    • UK car breakdown cover policy underwritten by U K Insurance Limited
    • Mobile phone insurance underwritten by Aviva Insurance Limited
    • Maximum Interest (AER) [?]
      0%
    • Switching Incentive
      £125
    • Minimum Monthly Credit
      None
    • Monthly Fee
      £20

    Interest details

    • No interest is paid on in-credit balances on this account

    Overdraft details

    • Arranged overdraft fees: £250 interest free buffer. Once buffer exceeded, you'll be charged 19.89% EAR (variable) on the whole overdrawn amount and a monthly usage fee of £6 on all arranged overdrafts
    • Other overdraft fees: please see provider website for details

    Switching incentive details

    • £175 to Switch and Stay. Receive £125 upfront and then £50 after 12 months. Eligibility criteria applies.
    • Use the Current Account Switch Service to close your current account held elsewhere and switch to us by 28 June 2019. Pay in at least £1,500 and log in to Digital or Mobile banking by 2 August 2019. Before 1 June 2020 use your Debit card linked to your opened account at least once per month.
    • 2% in rewards on 7 types of household bills if paid by Direct Debit as well as lifestyle and insurance benefits. £20 monthly fee. Reward eligibility criteria applies.
  • RBS logo

    RBS Reward Silver Account

    • 2% back in Rewards on 7 types of household bills if paid by Direct Debit - Reward eligibility criteria apply
    • On average RBS customers earn £83 in Rewards per year. Based on monthly bills of £345 excluding the monthly £10 fee.
    • To apply, you must be 18+ and a UK resident.
    • Maximum Interest (AER) [?]
      0%
    • Switching Incentive
      £125
    • Minimum Monthly Credit
      None
    • Monthly Fee
      £10

    Interest details

    • No interest is paid on in-credit balances on this account

    Overdraft details

    • Arranged overdraft fees: £10 interest free buffer. Once buffer exceeded, you'll be charged 19.89% EAR (variable) on the whole overdrawn amount and a monthly usage fee of £6 on all arranged overdrafts
    • Other overdraft fees: please see provider website for details

    Switching incentive details

    • £175 to Switch and Stay. Receive £125 upfront and then £50 after 12 months. Eligibility criteria applies.
    • Use the Current Account Switch Service to close your current account held elsewhere and switch to us by 28 June 2019. Pay in at least £1,500 and log in to Digital or Mobile banking by 2 August 2019. Before 1 June 2020 use your Debit card linked to your opened account at least once per month.
    • 2% in rewards on 7 types of household bills if paid by Direct Debit as well as lifestyle benefits. £10 monthly fee. Reward eligibility criteria applies.
Please note: Our comparison service features a selection of providers from whom we receive commission. This table is initially ordered according to our commercial arrangements. You can use the options above the table to order it according to various criteria.

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Switch Incentive Current Accounts FAQs

What is a switch incentive current account?

Who can take out a switch incentive current account?

What benefits do switch incentive current accounts offer?

How do you decide which switch incentive current account to move to?

Can you take out a switch incentive current account if you are overdrawn?

How do you apply for a switch incentive current account?

Do you need to close your old account?

Can you earn rewards if you switch a joint current account?

Helpful links for current account issues

Financial Conduct Authority (FCA) - The UK financial regulator's website features lots of useful information for banking customers covering everything from knowing your rights to how to stop unauthorised payments.

Financial Service Compensation Scheme (FSCS) - The FSCS is the best place to find out if your bank is covered by the compensation scheme and for advice on making a claim.

Financial Ombudsman Service - If you've complained to your bank and are still having ongoing problems then the Financial Ombudsman is the next step - their website covers everything you need to know about making a complaint.

Money Advice Service - The government's Money Advice Service provides unbiased advice on choosing, opening and managing a current account.

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