Overview
- Barclays is promoting headline incentives reported up to £900, including a £200 payment via Blue Rewards, which carries a £5 monthly fee, a £800 monthly pay‑in and access to a 4.36% saver, with a separate £400 offer on Premier for higher earners.
- Lloyds is paying £200 to switchers into Club Lloyds or Lloyds Premier via the Current Account Switch Service, with three active direct debits required and monthly account fees unless higher pay‑ins or balances are met.
- Nationwide is offering £175 within 10 days to those who switch into FlexDirect, FlexAccount or FlexPlus by moving at least two direct debits, paying in £1,000 and making one card transaction, with some members potentially receiving an additional £100 Fairer Share payment.
- Other active deals include £180 from TSB and £175 from NatWest, Royal Bank of Scotland, First Direct and Co‑op, with most offers requiring a full switch that closes the old account and completion of steps within about 28–31 days.
- Experts caution that each application can trigger a credit‑file check and recommend reviewing credit reports and fine print, while some analysts suggest Barclays’ escalation could spur rivals to enhance offers heading toward Christmas.