Make money by switching your bank account

There are forms to fill in, conditions to meet, deadlines to remember, and that low-level anxiety that something might go wrong with your bills. However — and this is the important bit — in 2026 UK banks are still offering £150 to £250+ in cash just to persuade you to switch.

So is it worth the admin? For many people, yes. For others, absolutely not — and that’s OK too.

This guide explains which UK banks offer switching bonuses in 2026, how they work, the real pros and cons, and whether switching is right for you.

What Is a Bank Switching Bonus?

A bank switching bonus (sometimes called a join-up incentive) is a cash payment offered by banks when you move your current account to them.

To qualify, you usually need to switch using the Current Account Switch Service (CASS), which is the official, bank-backed switching system used in the UK.

CASS:

• Moves your balance automatically
• Transfers direct debits and standing orders
• Redirects incoming payments like salary or benefits
• Completes the switch within 7 working days
• Guarantees compensation if anything goes wrong

Banks offer these incentives because once you’ve moved everything over, most people tend to stay.

The Best Bank Switching Bonuses in the UK (2026)

Important: Switching offers change regularly and can be withdrawn at any time. Always check the bank’s own website before applying.

The Honest Truth: Why Switching Is a Faff

I won’t pretend this is effortless money. You are being paid because banks know most people won’t bother.

Here’s why switching puts people off:

• You must complete a full switch, not just open an account
• You usually need two active direct debits
• There’s often a minimum pay-in (even if you move the money straight back out)
• Deadlines matter — miss one and you lose the bonus
• Some accounts charge monthly fees if conditions aren’t met

If admin stresses you out or you know you won’t follow instructions carefully, this may not feel worth it — and that’s a perfectly sensible decision.

Pros and Cons of Bank Switching Bonuses

Pros

• Cash rewards that often beat savings interest
• Fully regulated and legal in the UK
• Opportunity to leave a poor-value bank
• CASS guarantee protects you from errors

Cons

• Admin-heavy and deadline-driven
• Some accounts come with fees
• Multiple switches can affect your credit score
• Bonuses are not guaranteed if you miss conditions

How to Reduce the Faff (My Practical Tips)

• Set up two small direct debits you control (e.g. charity, Netflix)
• Move money in and out on the same day
• Screenshot confirmation pages and emails
• Set calendar reminders for deadlines
• Switch a secondary account, not your main salary account

Treat switching like a short-term money project, not something to do while half-watching TV.

Frequently Asked Questions

Are bank switching bonuses legal?

Yes. They are openly advertised, regulated, and protected by UK banking rules.

Can I switch more than once?

Yes, but banks often exclude people who’ve received a bonus from them before.

Will switching affect my credit score?

Possibly in the short term, especially if you do it frequently.

Are switching bonuses taxable?

Generally no, unless HMRC considers it a regular income source.

My Final Word

Switching banks for a cash bonus in 2026 isn’t free money — but it is one of the few remaining ways people can still earn £200+ with no special skills.

If you’re organised, calm under admin pressure, and happy to follow instructions, it can absolutely be worth the faff.

If not, don’t beat yourself up — there are plenty of other ways to save money that don’t involve switching anything at all.