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The best bank accounts go the extra mile, with many current accounts coming with incentives or extra perks to help you get the most from your money.

But people rarely change their account, often sticking with one they opened as a young worker, student or even child, despite there being much better deals – and even free cash – out there. 

The latest statistics from the Current Account Switch Service (CASS) suggest that bank account switches are becoming more popular in the UK, with 2025 being the third consecutive year of over a million switches. But when you consider there's almost 54million adults in the UK, it's clear most people are staying put.

Savvy customers should consider jumping ship for a better deal or service. There are lots of banks to choose from, offering different current accounts to suit different people. 

Options range from those that pay interest to ones that offer cheaper spending abroad, good apps and budgeting tools, a better overdraft rate, or extras such as insurance.

What's more there are often generous incentives on offer to encourage you to switch. At the moment you can bag up to £220 just by being disloyal, with deals from the likes of HSBC and Santander available.

> Read more: The best cash Isa rates 

1. HSBC: £220 switch bonus

HSBC is offering a straightforward £220 to switch, making it the biggest bank switch offer widely available right now. However the £500 debit card spending requirement is an extra hoop to jump through which other deals don't have. 

You can get the bonus by doing these within 60 days:

• Opening an HSBC current account using the app and using the Current Account Switch Service to transfer your banking over.
• Depositing at least £2,000 into the account.
• Spending at least £500.

You won't be eligible if: You're an existing HSBC or First Direct customer or have held one of these accounts since 1 January 2023. You can't open the account online, in branch or over the phone. 

We like: This is an especially high amount when it comes to switch deals. There's an optional overdraft including a £25 interest-free amount. HSBC's Global Money account lets you send money abroad without paying any HSBC fees.

Watch out for: The high debit card spending requirement and the fact that you must use the app to open the account. There are better perks available in other current accounts, which is why the account isn't listed in our table above.

2. NatWest: £200 switch bonus plus 5.25 per cent regular saver

With Lloyds closing its £200 switching deal on 30 April, NatWest has upped the bonus it'll pay to new customers. The downside is it's removed the boosted 7 per cent regular savings rate for switchers, however most will probably prefer to bank the extra £50.

You can get the bonus by: 

• Applying for a Select or Reward current account and requesting to switch using the Current Account Switch Service. 
• Paying in £1,250 within 60 days of switching, which can be made of multiple payments.  
• Logging in to NatWest's mobile banking app.

You won't be eligible if: You held a NatWest current account on 6 May 2026 or you've previously had a cash switch incentive from the NatWest group, which includes NatWest, the Royal Bank of Scotland and Ulster Bank.

We like: There's a relatively small list of requirements to take up the deal. The bank pays quickly, within 30 days of you meeting the conditions. 

There's a good linked regular saver that pays 5.25 per cent on balances up to £5,000, although you can only pay in £150 a month, and the Reward bank account can pay you £3 a month after factoring in the £2 a month fee.

Watch out for: NatWest is one of the major banks that's set to close more branches, so check the status of your local one. 

3. Co-Operative Bank: Potential £300 available for existing customers

Co-Operative Bank has a £200 switch bribe available for new customers, with an extra £100 on the table for existing Co-Operative Bank or Coventry Building Society customers. However there are a few hoops to jump through.

You can get a £125 bonus by doing this within 30 days of the switch:

• Depositing at least £1,500. 
• Having at least two active direct debits.
• Using your debit card five times.
• Signing up for online or mobile banking. 

Then you can get a monthly £25 bonus for three months for meeting the same activity requirements listed above, minus signing up for online or mobile banking. Existing customers can bag the additional £100 by November 2026 provided they previously qualified for the £125 payment and were already a customer as of 21 June.

You won't be eligible if: You've had a switch offer from the bank since November 2022. 

We like: Co-Operative Bank has slashed the fees on its packaged bank account from £19 to £12, which is good if you want bundled insurance protections. 

Watch out for: The activity requirements to bag the extra £25 payments. If you don't do these and you're mainly interested in the switch deal, you could have bagged a better bonus elsewhere.

Current account in–credit interest has dwindled in recent years, with many banking providers offering customers little to no interest – but deals are still available.

Nationwide has an introductory 5 per cent fixed interest rate on FlexDirect current account balances. The rate is available for new accounts on balances up to £1,500 for the first 12 months, so you’d earn £75 if you had at least £1,500 in your account for the whole year.

The bank is also paying £175 to switch. 

You can get the introductory interest by: 

• Opening a new FlexDirect account (you won’t get the boosted rate if you’ve received it or had a FlexDirect account before).
• Paying in at least £1,000 a month.

We like: Nationwide also pays 1 per cent cashback for 12 months on qualifying spends using your FlexDirect debit card, up to £5 a month. In recent years, qualifying current account customers have benefited from the £100 Fairer Share payouts, which aren't guaranteed but have been a much–loved bonus. Britain's biggest building society has also promised to keep branches open – and in many places where rival banks have shut it has the last branch in town.

Watch out for: Interest drops to zero if your monthly deposit into your account is less than £1,000. The interest rate also plummets after the first year to 1 per cent variable, so you should consider moving your money elsewhere after the introductory period is up. 

Kroo is a new challenger bank that’s offering 2.65 per cent interest variable on balances up to £500,000.

You can get the interest by: 

• Opening a current account by downloading the Kroo app on your mobile phone.
• Kroo tracks its interest rate at 1.1 per cent below the base rate. 

We like: There are no particular hoops you need to jump through to get the interest. You can use your debit card for free abroad.

Watch out for: Kroo is a new bank and some may prefer to go with established names. That being said, your money’s protected up to £120,000 through the Financial Services Compensation Scheme (FSCS). You should also keep in mind it's app–based, similar to Monzo and Starling.

Santander Edge Up: Santander pays monthly interest of 2.1 per cent variable on balances up to £25,000, but this is a rewards account that charges £5 a month.

Zopa Bank: Zopa’s current account – called Biscuit – offers 2 per cent on your balance. We like that it’s uncapped and fixed for 12 months, but after that it’s variable. 

Unfortunately, many banks have been making their cashback deals far less attractive, with both Chase and Santander restricting eligible transactions. However the below options are still available.

Chase is part of US financial giant JP Morgan and launched in Britain in 2021. It’s offering 2 per cent cashback up to £20 a month on groceries, restaurants, cafes, public transport and fuel and EV charging for the first year, when you pay using your Chase debit or credit card.

You can get the cashback by: 

• Opening an account as a new customer and using your debit card to spend on eligible categories.
• Making 15+ payments a month on your debit or credit card and keeping at least £1,000 in Chase savings accounts.

We like: There are no fees for using your debit card abroad and no monthly fee. You can also open a boosted savings account that pays a 2.25 fixed interest rate boost for your first year, on top of the standard variable rate, currently 2.25 per cent – making the boosted rate 4.5 per cent.

Watch out for: Chase is a digital-only bank that requires an app to join, so it’s worth looking elsewhere if you prefer to bank in-branch. The requirement to hold £1,000 in savings accounts for cashback means you may have to shift money around. Its cashback also used to offer cashback on most debit card spending, however this was at a lower 1 per cent.

Santander’s Edge Up account offers 1 per cent cashback on select household bills paid by direct debit, with up to £15 per month available – although there’s a £5 monthly fee.

You can get the cashback by:

• Paying by direct debit for household bills including council tax, gas and electricity, mobile, landline, broadband and paid-for TV packages, with cashback capped at £15 a month.
• Paying £1,500 a month into the account and having two active direct debits.

We like: There’s no charge for using your debit card abroad and you can get 2.1 per cent interest variable on balances up to £25,000.

Watch out for: The £5 monthly fee, plus keep in mind that most customers won't get close to the potential £15 a month. They would need to spend at least £1,500 a month on eligible monthly bills paid by direct debit.

The rise of digital-first challenger banks has given customers far more choice over where to keep their money.

Starling Bank is an online–only challenger bank that was recently voted the second–best British organisation for customer satisfaction, behind First Direct. It launched in 2014 and has grown substantially since then.

We like: You can get a linked easy access savings account that offers 4 per cent interest variable on your money for 12 months, which then reduces to 2.5 per cent. There are no fees for using your debit card abroad and Starling says it offers 24/7 support from a human UK–based customer service team. The app offers useful tools such as automatically saving spare change and bill split features.

Watch out for: There are no physical branches, so if you prefer in–person banking then you should look elsewhere.