The finest financial institution accounts: Compare change presents and extra perks

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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.

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.

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. 

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 £240 just by being disloyal, with deals from the likes of Santander, HSBC and NatWest available.

> Read more: The best cash Isa rates 

Best current accounts: Top accounts and perks at a glance

Best-paying bank switch offers

1. Barclays: Bumper £300 to switch

Barclays is offering a huge £300 to switch, which comes in several parts. There’s a regular bonus of £150 paid to switch, then Barclays will pay £30 for five months as long as you use your debit card at least ten times each month.

You can get the full £300 bonus by:

• Opening a Barclays account in the app and completing the application within 21 days.
• Switching using CASS including at least three direct debits.  
• Paying in at least £2,000 within 30 days. 
• Making at least ten debit card transactions each month for five months. 

You won’t be eligible if: You have received a switch bonus from Barclays in the past and you must be a new customer – meaning you can’t have held an account before the offer opened on October 1.

We like: This is one of the largest amounts we’ve seen offered to switch. And if you are eligible for a Premier account, you can get £600.

Watch out for: There’s no end date for the offer stated, but Barclays says it can remove it at any time.

2. Santander: £240 bonus plus 8% regular saver

This is another large bonus. However there is a hoop to jump through: in this case you must open a regular savings account and fund it with £200. The positive is that it pays 8 per cent interest for the first year, increasing the value of the account. 

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

• Completing a full switch to the Everyday Current Account. 
• Depositing at least £1,500 into the account.
• Having at least two active direct debits, for qualifying payments such as your council tax or bills.
• Funding a regular savings account with £200. 

You won’t be eligible if: You had a Santander current account on 1 January 2026 or have previously got a switch deal from the bank.

We like: The regular saver has a 5 per cent boost for 12 months, and then it reverts to a still-decent 3 per cent. You could earn £104 in interest in the first year if you deposit the maximum £200 a month.

Watch out for: Santander asks that your direct debits are ‘qualifying’ meaning they must be for your council tax or other bills. 

You can check which payments count before applying for an account. 

3. 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 January 1, 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.

4. First Direct: £210 switch bonus

First Direct has boosted its long-standing £175 switch bonus to £210 until December 2. The bank is often ranked highly for customer service, coming joint third for overall service quality in the latest banking survey from the Competition and Markets Authority, published August 2026.

You can get the £210 bonus by doing this within 45 days of account opening:

• Switching using the Current Account Switch Service, including at least two direct debits or standing orders. 
• Depositing £1,000. 
• Using your debit card five times.
• Logging on to digital banking. 

You won’t be eligible if: You’ve had a First Direct product before, or opened an HSBC current account on or after January 1, 2018.

We like: The boosted bonus, alongside a £250 interest-free overdraft and the strong scores for service.

Watch out for: You must open the account before December 2 to get the extra £35 on top of the usual switch bonus.  

Best current accounts with interest 

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.

1. Nationwide: 5% on balances up to £1,500 (plus £175 switch offer)

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 £10 cashback for 12 months when you spend at least £500 on your debit card and pay £300 in direct debits each 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: You won’t receive interest and cashback if your monthly deposit into your account is less than £1,500. 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. 

2. Kroo: 3% on your balance 

Kroo is a new challenger bank that’s offering new customers 3 per cent interest variable on balances up to £500,000 for the first 12 months.

You can get the interest by: 

• Opening a current account by downloading the Kroo app on your mobile phone.
• Existing customers receive a rate that tracks the base rate minus 1.1 per cent, so 2.65 per cent.

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: You should beware that the rate will plummet to 1 per cent after the first 12 months, and better rates than 3 per cent are available in dedicated savings accounts regardless. 

What’s more, 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. You should also keep in mind it’s app-based, similar to Monzo and Starling.

Other banks to consider for in-credit interest

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 – pays 1 per cent variable on your balance. We like that it’s uncapped. You can choose to boost this to 2.75 per cent, or pick a cashback perk instead.

Best bank accounts for cashback

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.

1. Chase: 2 per cent cashback a month up to £20

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.

2. Santander Edge Up: Up to £15 cashback available a month

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.

A good option for completely digital banking 

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

1. Starling Bank: voted great for customer service

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 up to £25,000 for 6 months, which then reduces to 2.75 per cent. However, this used to be a better deal, lasting for 12 months. 

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.