Did you know some banks will actually pay you to leave your current account behind? Right now, switching offers are worth up to £200 cash.
Not a bad payday for filling out a form that takes less than 10 minutes.
Yet millions of people have stuck with the same bank for decades. If you’re genuinely happy with yours, that’s fine, a good banking experience is rare enough that it’s worth holding on to.
But if you’re frustrated with poor service, high fees, or clunky apps, there’s no reason to stay put.
Switching your current account is free, fast and protected by the Current Account Switch Service (CASS).
The process is so simple that once you’ve chosen your new bank, most of the work happens automatically.
Here’s everything you need to know.
How the Current Account Switch Service works
The Current Account Switch Service (CASS) is a UK-wide scheme that takes the pain out of switching.
When you switch:
- All direct debits, standing orders, and future payments move to your new account
- Incoming payments (like salary or benefits) get redirected automatically
- Any mistakes are covered by the CASS Guarantee, so you won’t lose money if something goes wrong
The best part? It usually takes just 7 working days.
Step-by-step: How to switch bank accounts
- Find an account you want – look at cashback, switching incentives, overdraft rates and app features.
- Apply online (or in-branch) – most banks let you do this in under 10 minutes.
- Choose to switch during the application – tick the box that says you want to move your old account.
- Provide your old bank details – sort code, account number, and that’s it.
- Wait 7 days – your balance, payments and direct debits will move across.
You don’t need to contact your old bank at all, the switch is handled for you.
What doesn’t get switched automatically?
Most payments do move, but there are two exceptions:
- Subscriptions linked to a card (like Netflix, Spotify, Amazon Prime) – you’ll need to update card details manually.
- App logins or loyalty links – for example, if your old bank app linked to a supermarket scheme, you may need to reconnect with your new account.
Otherwise, the switch is seamless.
Which banks pay you to switch?
Which banks pay you to switch?
Cash bonuses change regularly, but as of early 2025:
- HSBC Advance: £200 for switching with two direct debits and £1,500 paid in within 60 days
- First Direct 1st Account: £175 for switching and paying in £1,000 within 30 days
- Nationwide FlexDirect: up to £200 for existing customers who switch a second account
- TSB Spend & Save Plus: cashback plus perks like regular saver options
These deals come and go quickly. The easiest way to check the latest offers is MoneySavingExpert’s bank account switching deals page.
You only get the bonus if you switch from one banking group to another. Moving from HSBC to First Direct doesn’t count (same banking group).
Real-life example
Claire switched from NatWest to HSBC after being fed up with the mobile app constantly freezing. She applied online, selected the “switch” option, and within a week, her salary, bills and direct debits all moved over.
A month later, £200 landed in her new account. “It was the easiest £200 I’ve ever made,” she said.
Checklist before switching
- Do I qualify for the switching bonus?
- Have I updated card-linked subscriptions like Netflix?
- Do I need an overdraft, and what rate is offered?
- Am I moving to a different banking group (to qualify for cash)?
- Do I have two active direct debits (most switching offers require this)?
Switching bank accounts the easy way
For once, something to do with banking isn’t boring, complicated or involves tons of paperwork.
It’s all done online, the forms are simple and can be completed in minutes and all the hard work is done for you.
Many banks that still have branches can help you open an account in person if you don’t want to do it online. Otherwise you may be able to open an account over the phone as long as you can send proof of ID.
There’s also nothing stopping you from switching, getting your money and switching again.
Some people do this a lot and can make quite a bit of money out of the banks. It makes a nice change for them to give us money!
Switching bank account FAQs
1. Is it safe to switch bank accounts?
Yes. CASS is backed by all major UK banks. If anything goes wrong, the CASS Guarantee ensures you won’t lose money.
2. How long does a bank switch take?
Most current accounts switch in 7 working days, start to finish.
3. Can I switch if I have an overdraft?
Yes, but it depends on your new bank accepting the overdraft. If they won’t, you’ll need to clear it first.
4. Can I keep my old account open?
If you use the official switch service, your old account will be closed automatically. If you just open a new account without switching, you can keep both.
5. Can I switch multiple times?
Yes. There’s no legal limit to how many times you can switch, and some people do this regularly to collect bonuses. Just be aware that too many switches in a short time might affect your credit applications.
