The new year is well underway, and if you're considering switching bank accounts, now might just be the perfect time to cash in on some great offers. Let's dive into the top bank switching offers available this February:
1. First Direct £175 Switch Offer
First Direct continues to win customers over with a £175 switch offer. Here's what you need to know:
- Switch requirements:
- Transfer two direct debits or standing orders to your new account.
- Use the Current Account Switch Service to close your old account.
- Deposit £1,000 within 30 days and maintain it for at least 24 hours.
- Use your new debit card at least five times in the first 45 days.
- Log into mobile or online banking within the first 45 days.
- Restrictions: Previous First Direct customers, or those who've opened an HSBC account since 2018, are ineligible.
Find more information on the First Direct switching page.
2. Chase 1% Cashback Offer
The Chase account offer might not offer upfront cash, but it does provide 1% cashback for everyday debit card spending. Here's a quick breakdown:
- Eligibility:
- New customers to Chase for the first 12 months.
- Maximum cashback is capped at £15 per month.
- Restrictions: Chase can withdraw or amend this offer, so it's essential to get in quickly.
Find more details on the Chase website.
3. TSB £100 Switch Offer
TSB is offering new customers £100 to switch with the potential for more. Here's how to grab this offer:
- What to do:
- Close your old account using the Current Account Switch Service within 21 days of the offer's end.
- Use your debit card five times by 14 March 2025 and log into their online/app banking by that date.
- For extra cashback: make 20 debit transactions per calendar month over the next six months.
- Restrictions: Offer is only available once per person and account. Previous recipients from October 2022 onwards can't apply.
Find out more on the TSB switching page.
4. Nationwide Building Society £175 Switch Offer
Nationwide rewards new switchers with a tidy sum of £175. Here's how to ensure you qualify:
- Steps to qualify:
- Open a new or use an existing FlexPlus, FlexDirect or FlexAccount.
- Use the Current Account Switch Service, closing your old account within 28 days.
- Transfer two direct debits and deposit £1,000 within 31 days.
- Make one debit transaction within the same period.
- Restrictions: Not open to anyone who’s received a switching bonus since 18 August 2021.
More details are available on the Nationwide switching page.
5. Barclays Bank Premier Avios Switch Offer
If you're part of the Avios rewards system, Barclays offers 25,000 Avios points for switching:
- Eligibility:
- Open a Premier Banking account and certify an income of £75,000 or savings of £100,000+ with Barclays.
- Enrol in Barclays Avios Rewards (£12/month fee).
- Employ the Current Account Switch Service.
- One-time offer: Available once per individual.
Discover more on the Barclays Premier Page.
Switching your bank account can put extra cash, rewards, or perks straight into your hands – just ensure you meet the eligibility criteria and act quickly to secure these deals.
Looking for a seamless switching process? Our service sets up your direct debits under 3 working days and offers £1 direct debits perfect for the account switching process. Happy Switching!
Published on 2025-02-17.