Overview
- Santander’s Edge account pays £200 to new switchers and offers 1% cashback on household Direct Debits and a linked 6% Edge Saver, though the account carries a £3 monthly fee and requires a one-off £1,500 deposit alongside ongoing criteria for perks.
- First Direct’s 1st Account offers £175, a £250 0% overdraft and a 7% regular saver, excluding anyone who has held First Direct products or an HSBC current account since January 2018, with the bonus typically paid by the 20th of the month after meeting activity rules.
- Nationwide confirms £175 bonuses are being paid in January for eligible new customers who complete a full CASS switch to FlexDirect, FlexAccount or FlexPlus, move at least two Direct Debits, pay in £1,000 and make one debit card payment within 31 days.
- All deals must be completed through the Current Account Switch Service, which protects incoming and outgoing payments and usually finishes in around seven working days.
- NatWest, Barclays and Lloyds are not listed among current bonus providers, prompting guidance that their customers could be better off by switching to a bank with an active cash incentive.