# Bank switching offers UK 2026: the exact cash each bank pays you to switch

> UK banks pay from £175 to up to £600 for a full current account switch right now: Barclays Premier up to £600, Barclays up to £300, Santander £240, HSBC £220, first direct £210, Lloyds, NatWest and RBS £200 each, and Nationwide £175. Each pays new customers who switch with the Current Account Switch Service and meet its pay-in rules.

Last checked: 2026-11-06. Page: https://topreferrals.co.uk/compare/bank-switching-offers-uk

## Key takeaways
- Barclays Premier pays up to £600 (£450 plus £30 a month for five months) for a full switch and a £5,000 salary; Premier needs £75,000 income or £100,000 savings.
- Santander pays £240 for a full switch, £1,500 paid in, 2 household Direct Debits and £200 into a Regular Saver within 60 days.
- HSBC pays £220 and first direct £210 (£175 plus a £35 boost for accounts opened by 2 December 2026); the two banks share one rule.
- Lloyds pays £200 for a full switch with 3 Direct Debits started by 9 December 2026; NatWest and RBS pay £200 for £1,250 paid in and an app log-in.
- A switch bonus is separate from referral rewards such as Monzo's and Chip's, which a new joiner can claim on top.

## Compared offers
- **[Monzo](https://topreferrals.co.uk/referrals/monzo)** — you get £10 · £50 business (£10 personal · £50 business).
  - Code: `fzwdlcvv`
  - Link: https://topreferrals.co.uk/go/monzo
  - Terms: Add money and make one Monzo card purchase (not an ATM withdrawal, transfer or virtual-card payment)
- **[Chip](https://topreferrals.co.uk/referrals/chip)** — you get £50 bonus (£50 cash bonus).
  - Code: `CHIP-TCE575`
  - Link: https://topreferrals.co.uk/go/chip
  - Terms: Join with code CHIP-TCE575, then hold £1,000 in eligible Chip accounts for 90 consecutive days

UK banks are paying from £175 (Nationwide) to up to £600 (Barclays Premier) to people who switch their current account. The largest is Barclays Premier: **up to £600**, made up of £450 plus £30 a month for five months. For the £450, you need a full switch, 3 active Direct Debits and £5,000 salary paid in, all within 30 days. Next come Barclays Bank Account, up to £300, and Santander's Everyday Current Account with a Regular Saver, £240. Each one asks for a full switch and a salary or pay-in. We checked every offer below on 6 November 2026, straight from each bank's own switching page.

## Which bank pays the most to switch?

Barclays pays the most to switch. **Barclays Premier** pays up to **£600** if you have £75,000 income or £100,000 savings. It asks for a full switch, 3 Direct Debits and a £5,000 salary within 30 days.

**Barclays Bank Account** pays up to **£300**: a full switch, 3 Direct Debits and a £2,000 salary within 30 days.

**Santander** pays **£240** for a full switch, 2 household Direct Debits and £1,500 paid in within 60 days, and you put £200 into a Regular Saver.

**HSBC** pays **£220** for a full switch with 2 Direct Debits, £2,000 paid in and £500 on your debit card within 60 days.

**first direct** pays **£210**: £175 plus a £35 boost for accounts opened by 2 December 2026. It asks for a switch with 2 Direct Debits, £1,000 paid in and 5 debit card payments within 45 days.

**Lloyds**, **NatWest** and **RBS** each pay **£200**. Lloyds asks for a full switch with at least 3 active Direct Debits, started by 9 December 2026; NatWest and RBS ask for a full switch, then £1,250 paid in and an app log-in within 60 days.

**Nationwide** pays **£175** on FlexDirect, FlexAccount or FlexPlus for a full switch completed within 28 days, then £1,000 paid in and 1 debit card payment within 31 days.

## How to switch your bank account and get the cash

Follow these four steps and collect the cash.

**Pick the account.** Check who it is for first (see below).

**Open it.** Barclays and HSBC ask you to open in the app.

**Ask for a full switch.** The Current Account Switch Service moves your payments, Direct Debits and standing orders to the new account and closes the old one. Most offers need this.

**Meet the conditions before the deadline.** Lloyds needs a full switch started by 9 December 2026 with at least 3 active Direct Debits. Its **£200** arrives within 14 working days of the switch starting. Other offers also ask for a salary pay-in and debit card payments, so tick off each rule.

Work out your total with the [sign-up bonus calculator](/sign-up-bonus-calculator).

## Who can get a bank switching bonus?

Before you switch, make sure you are eligible.

Barclays excludes anyone with an open Barclays current account on or before 1 October 2026, anyone who had a Barclays switch bonus before, and joint accounts. Santander excludes anyone who held a Santander current account on 1 January 2026, and anyone who had a switching incentive before. HSBC excludes anyone who has held an HSBC UK or first direct current account since 1 January 2023. first direct excludes anyone who held a first direct product before.

Some banks share one set of rules. Lloyds, Halifax and Bank of Scotland count together, as do NatWest, RBS and Ulster Bank. HSBC and first direct share a rule. Nationwide's offer does not apply if you switch from Virgin Money.

Lloyds needs you to open the account and start a full switch by **9 December 2026**. If you meet the rules, you can switch today.

## Stack a switch bonus with referral rewards

A switch bonus is separate from referral rewards, so you can claim both. Switching gets you the bank's cash. Then add Monzo and Chip rewards on top.

**Monzo** pays **£10** on a personal account or **£50** on a business account. Add money and make one card payment within 30 days. Read the [Monzo referral](/referrals/monzo).

**Chip** pays **£50** for holding **£1,000** for 90 days. See the [Chip referral](/referrals/chip).

Add your total up on the [sign-up bonus calculator](/sign-up-bonus-calculator) and see the full amount before you start today.

## Bank switching offers with a date to act by

Two offers have a date to act by. The first direct £35 boost applies to accounts opened by 2 December 2026, lifting its total to £210. Lloyds pays £200 if you open a Club Lloyds account and start a full switch with at least 3 active Direct Debits by 9 December 2026.

Every other offer has no end date set. That includes Barclays, Santander, HSBC, NatWest, RBS and Nationwide, so act while they run.

Switch this month. Start your full switch today and collect your cash.

## Where every figure comes from

Each amount and condition above was read on the bank's own switching page:

- [Barclays](https://www.barclays.co.uk/current-accounts/switch-offer/)
- [Barclays Premier](https://www.barclays.co.uk/current-accounts/premier-switch-offer/)
- [Santander](https://www.santander.co.uk/personal/support/current-accounts/switching)
- [HSBC](https://www.hsbc.co.uk/current-accounts/products/bank-account/)
- [first direct](https://www.firstdirect.com/banking/switching-bank-accounts/)
- [Lloyds](https://www.lloydsbank.com/current-accounts/switch.html)
- [NatWest](https://www.natwest.com/current-accounts/switch-your-banking-to-natwest.html)
- [RBS](https://www.rbs.co.uk/current-accounts/switch-your-bank-account-to-rbs.html)
- [Nationwide](https://www.nationwide.co.uk/current-accounts/switch/)

More bank rewards for new joiners are on the [banking referrals page](/sectors/current-accounts), and every UK referral reward is in [one table](/best-referral-codes-uk).

## Side by side

| Bank | Cash you get | What you do | Act by |
| --- | --- | --- | --- |
| Barclays Premier | Up to £600 | Full switch, 3 Direct Debits, £5,000 salary in 30 days; £75,000 income or £100,000 savings | No end date set |
| Barclays Bank Account | Up to £300 | Full switch, 3 Direct Debits, £2,000 salary in 30 days | No end date set |
| Santander | £240 | Full switch, £1,500 in, 2 household Direct Debits, £200 into a Regular Saver in 60 days | No end date set |
| HSBC | £220 | Open in the app; full switch, £2,000 in, £500 card spend in 60 days | No end date set |
| first direct | £210 | Switch with 2 Direct Debits, £1,000 in, 5 card payments in 45 days | £35 boost: open by 2 December 2026 |
| Lloyds | £200 | Full switch with 3 active Direct Debits | 9 December 2026 |
| NatWest | £200 | Full switch, £1,250 in and an app log-in in 60 days | No end date set |
| RBS | £200 | Full switch, £1,250 in and an app log-in in 60 days | No end date set |
| Nationwide | £175 | Full switch in 28 days, £1,000 in and 1 card payment in 31 days | No end date set |

## FAQ

### Which bank pays the most to switch?
Barclays Premier pays up to £600 (£450 plus £30 a month for five months) if you meet its £75,000 income or £100,000 savings rule. Without Premier, the largest amounts are Barclays Bank Account up to £300, Santander £240, HSBC £220 and first direct £210, each read on the bank's own page on 6 November 2026.

### Do I have to close my old account to get a switch bonus?
For most of these offers, yes: they ask for a full switch with the Current Account Switch Service, which moves your payments, Direct Debits and standing orders to the new account and closes the old one.

### Can I get a switch bonus more than once?
Each bank sets its own rule. Barclays and Santander pay only if you have not had a switching bonus from them before; Lloyds, Halifax and Bank of Scotland count together, as do NatWest, RBS and Ulster Bank, and HSBC and first direct.

### Can I claim a referral reward as well as a switch bonus?
Yes. A referral reward comes from a different brand with its own terms, so Monzo's £10 (or £50 on business) and Chip's £50 sit on top of a bank's switching cash.