How to switch bank account and get paid for it

Switching your current account takes 7 working days, the free Current Account Switch Service moves your payments for you, and banks are currently paying up to £300 to do it. This guide covers how it works, what to watch, and how to make sure the bonus actually lands.

How switching works

The Current Account Switch Service, usually called CASS, is free and used by almost every UK bank and building society. You start it from your new bank, not your old one.

Open the new account, usually in the bank's app, and choose "switch" or "full switch" during sign-up.
Pick a switch date. It's normally at least 7 working days away, and you can choose one that suits you.
Keep using your old account as normal until the switch date.
On the switch date, your balance, direct debits, standing orders and incoming payments move to the new account, and the old account closes.
Anything sent to your old account after that, such as your salary, is redirected to the new one. For switches since September 2013 that redirection has no end date (NatWest).

What moves, and what doesn't

Moves automatically	Needs you to update it
Direct debits, like council tax, energy and phone contracts	Subscriptions charged to your old debit card, like streaming or apps
Standing orders you've set up	Any card saved in online shops
Your salary and other payments into the account	Your old account's card, which stops working
Your balance on the switch date

The easy way to find the card payments that won't move is the AI money move from Issue #1: it lists every regular charge from your statements.

How to make sure you get the bonus

A bonus only pays out if you meet every condition. Before you apply, check these five things in the bank's own terms.

It has to be a full switch through CASS. Opening a new account and moving money by hand usually doesn't count.
The pay-in amount and deadline, often £1,000 to £2,000 within 30 to 60 days. Some offers want it every month.
How many direct debits must move, usually two or three.
Any card spending or app log-ins, for example 5 card payments within 45 days.
Whether you're excluded because you've banked with them, or a bank in the same group, recently. HSBC and First Direct are one group; so are NatWest, RBS and Ulster Bank; and Lloyds, Halifax and Bank of Scotland.

Set a calendar reminder for each deadline the day you apply. Our switch bonus checker shows which current offers you can still get.

Will switching hurt my credit score?

Opening a current account usually means a hard credit search, which shows on your file and can lower your score for a while. According to the switch service, the effect typically lasts up to about six months (MoneyWeek).

Space switches out rather than doing several at once.
Hold off before a mortgage application, when lenders look closely at recent searches.
A full switch, which closes the old account, can be kinder to your score than opening extra accounts.

Is it safe?

The Current Account Switch Guarantee covers switches made through CASS. If something goes wrong, you get back any interest or charges it caused on either account (MoneyWeek). Money in UK-licensed banks is also protected by the FSCS up to a limit per person per banking group.

Do I pay tax on a switch bonus?

For an account used for a business, HMRC has treated switching incentives as taxable trading income (AccountingWEB). For a personal account, if you're unsure how a bonus affects your tax, check with HMRC or an accountant.

How often can I switch?

There's no fixed limit. The real limits are the offers themselves, which usually exclude recent customers, and your credit file, which is why spacing switches out matters.

Where to find this week's offers

Our switch bonuses page lists every current offer, its conditions and any deadline, checked weekly. Or get them in your inbox every Thursday.

General information, not financial advice. Always read the bank's own terms before you apply.