How to switch your bank account and get paid for it
Switching your current account is one of the few genuinely easy ways to get free money. Banks compete hard for new customers and regularly pay cash bonuses to switch to them. The process is quicker and safer than most people think.
How switching actually works
The Current Account Switch Service (CASS) does the hard work for you. Once you apply to switch, it moves your incoming payments (like your salary) and outgoing ones (direct debits and standing orders) to the new account, usually within seven working days.
You don't have to cancel anything yourself, and there's a guarantee that covers you if anything goes wrong during the switch.
What you usually need to qualify for a bonus
Every bank sets its own conditions, but most switch bonuses ask for a similar checklist. Read the specific offer's terms before you start, because missing one step can mean missing the bonus.
- A full switch using CASS (not just opening an account)
- A minimum amount paid in within a set time
- Two or more active direct debits moved across
- Logging into the mobile app at least once
Can you switch more than once?
Yes. There's no rule stopping you switching again in future when a better offer comes along, as long as you meet each bank's terms. Some people switch every time a strong new bonus appears.
Things worth checking before you switch
A bonus is nice, but make sure the account itself suits you. Check the everyday features, any monthly fee, the linked savings rate and whether you'd lose anything by leaving your current bank.
Frugl provides general information to help you compare options. We are not a Financial Advisor and this is not personalised advice. Always check the provider's own terms before buying.