How to switch your bank account and earn £175
How to Switch Your Bank Account and Earn £175 (Step-by-Step Guide) Switching your current account might sound like a hassle—but it can be one of the quickest and easiest ways to earn up to £175 tax-free. Thanks to the Current Account Switch Service (CASS) and some generous bank incentives, moving your money has never been simpler. Whether you’re looking for better customer service, lower fees, or just free cash, here’s everything you need to know to switch—and pocket that bonus. What is the Current Account Switch Service (CASS)? CASS is a free, government-backed scheme that guarantees your current account will be fully switched to a new provider within 7 working days. It includes: Automatic transfer of all direct debits and standing orders Redirection of payments from your old account for 3 years No risk—your old account will be closed only after everything moves over successfully Which Banks Are Paying to Switch in July 2025? These are some of the top bank switch offers available right now (amounts and conditions may vary, so check each bank’s site for full T&Cs): Bank Switch Bonus Key Requirements Link First Direct £175 Pay in £1,000+ and switch using CASS Join Now (affiliate) Lloyds Bank £175 Apply online, switch using CASS, pay in £1,500/month Apply Here (affiliate) NatWest / RBS £175 Use mobile app, pay in £1,250+, log in once Get Started (affiliate) Santander Edge £175 + cashback Set up direct debits and pay in monthly salary Switch Now (affiliate) These offers can change monthly—subscribe to our Money Alerts Newsletter to stay up to date. How to Switch Your Bank in 5 Simple Steps 1. Check Eligibility Each bank will require different: Minimum monthly pay-ins (e.g. £1,000–£1,500) Number of direct debits (usually 2) Timeframe for completing the switch (typically 30 days) 2. Choose Your New Bank Compare benefits like: Welcome bonus Cashback on bills Interest rates Mobile app experience You can use our Compare Bank Accounts Tool to help choose the right one. 3. Apply for the New Account Apply online or via the bank’s mobile app. Most banks run a soft credit check. 4. Initiate the Switch via CASS During the application, opt to switch via CASS. Provide your old bank details. The new bank takes care of the rest. 5. Meet the Bonus Criteria This often includes: Paying in a set amount Setting up direct debits Logging into online or mobile banking Once you meet the criteria, the bonus usually arrives within 7–60 days. Pro Tips Before You Switch Don’t close your old account manually — let the new bank handle it via CASS You can open a spare current account just to switch (keeping your main account untouched) Track your switching activity—some bonuses are limited to once per customer or per year Use it for couple’s cashback – partners can switch individually or jointly for double rewards Is It Worth It? Absolutely. If you switch just twice a year and make £150–£175 each time, that’s an easy £300+ in free cash. No risk. No tax. Just smart money management. Ready to Switch? We’ve rounded up the best switching offers on our Top UK Bank Account Offers page. Use our simple comparison tool and let your money work harder for you. Final Thought? Banks are competing for your business—and you can benefit. Don’t let loyalty cost you money. Switching accounts can be safe, fast, and profitable. Take 10 minutes today and earn £175. Smart money moves start here.
Top 5 UK savings accounts this month
Top 5 UK Savings Accounts – July 2025 Update When it comes to making the most of your money, parking your cash in the right savings account is a smart first step. With interest rates still relatively high in response to ongoing inflation, UK banks are battling it out for your deposits – which means better deals for savers. Whether you’re building an emergency fund, saving for a big expense, or just want to make your money work harder, here are the Top 5 UK savings accounts to consider this month. 1. Ulster Bank Loyalty Saver – 5.20% AER (Variable) Why it stands out: This account currently offers one of the highest easy-access interest rates on the market – with no fixed term and no monthly fees. Type: Easy Access Rate: 5.20% AER (variable) Min deposit: £1 Withdrawals: Unlimited Catch: You must have a current account with Ulster Bank to qualify. Ideal for: Savers who want flexibility and top-tier returns without locking their money away. 2. Secure Trust Bank 1-Year Fixed Term – 5.40% AER (Fixed) Why it stands out: For those happy to lock money away, this 1-year fixed account offers a strong return with FSCS protection. Type: Fixed-Term Bond Rate: 5.40% AER Min deposit: £1,000 Withdrawals: None during the term Catch: Early access not permitted Ideal for: Savers who won’t need the money for at least 12 months and want a guaranteed return. 3. Chip Instant Access Saver – 5.12% AER (Variable) Why it stands out: Backed by ClearBank and covered by FSCS, this app-based account is perfect for digital-first savers who value convenience and high returns. Type: Easy Access (via app) Rate: 5.12% AER Min deposit: £1 Withdrawals: Anytime via app Catch: Rate can change, and it’s app-only. Ideal for: Tech-savvy users looking for a simple, flexible savings option. 4. Nationwide Triple Access Saver (Issue 3) – 5.00% AER (Variable) Why it stands out: A solid rate from a trusted high street name, but with a twist: you’re limited to three withdrawals a year to keep the top rate. Type: Easy Access with restrictions Rate: 5.00% AER Min deposit: £1 Withdrawals: Max 3 per year or rate drops Catch: Go over 3 withdrawals and rate drops to 2.15%. Ideal for: People who want to earn more and don’t need regular access. 5. Zopa Smart Saver – Boosted Pots – Up to 5.08% AER (Variable) Why it stands out: Zopa lets you divide your savings into ‘pots’ with different access rules. The Boosted Pots offer up to 5.08% if you give 95 days’ notice to withdraw. Type: Notice Account (95 days) Rate: 5.08% AER Min deposit: £1 Withdrawals: 95 days’ notice required Catch: You need to plan ahead. Ideal for: Strategic savers who don’t mind waiting for access in exchange for higher returns. Final Thoughts: Choose Based on Your Needs Want flexibility? Go for Ulster Bank or Chip. Happy to lock it away? Secure Trust Bank gives a strong fixed rate. Only need occasional access? Nationwide offers the best of both worlds. Want to grow savings but can plan ahead? Consider Zopa’s notice pots. Money tip: Always check that the provider is FCA regulated and that your money is FSCS protected up to £85,000 per institution. Compare and Apply Use our Savings Account Comparison Tool to find the best account for your goals – whether it’s access, rate, or provider reputation that matters most. Provider Account Type Interest Rate (AER) Access Type Minimum Deposit FSCS Protected Ulster Bank Loyalty Saver 5.20% (variable) Easy access £1 Secure Trust Bank 1-Year Fixed Bond 5.40% (fixed) No access (fixed) £1,000 Chip Instant Access Saver 5.12% (variable) App-based access £1 Nationwide Triple Access Saver 5.00% (variable) 3 withdrawals/year £1 Zopa Boosted Pots (95-day) 5.08% (variable) 95-day notice £1