Earn up to £500 via bank switch PLUS save 5% on petrol & more - May 2026 bank update, by Be Clever With Your Cash on YouTube. 13 min 33 s.
- Video length
- 13 min 33 s
- Time to do it
- 30 minutes
- Difficulty
- Easy
- Steps
- 8
What you need
Steps
Check the current switching offers on a comparison site or the bank's own page, since bonuses change often. Note the deadline, the qualifying deposit and any minimum monthly pay-in.
Pick an account that fits your habits. Santander and NatWest/RBS have offered cash plus vouchers, while HSBC Premier and First Direct have offered larger bonuses with stricter criteria.
Read the small print before applying. Most bonuses need you to use the official Current Account Switch Service and pay in a set amount within a set number of days.
Open the new account online or in the app. Enter your personal details and upload your ID and proof of address when asked.
Start the switch through the Current Account Switch Service. Give your old account details and a switch date, usually about seven working days ahead.
Move your direct debits and standing orders as part of the switch. Check the list carefully so no bill is missed.
Set up any required monthly pay-in or minimum spend. Some offers also need a certain number of card payments or a linked savings account.
Keep the old account open until the switch completes and any remaining balance moves across. Then confirm the bonus has landed and close anything you no longer need.
Tips and common mistakes
Do not close your old account yourself before switching, or you may lose the bonus.
Check whether the bonus needs a minimum monthly pay-in, as some accounts ask for £1,000 or more.
Watch the deadline for each offer, since these deals change or end quickly.
Keep a record of the switch date and any reference numbers in case a payment goes missing.
Questions
Do I have to use the Current Account Switch Service?
Most cash bonuses require it. The service moves your balance, direct debits and standing orders and redirects payments for a set period.
Will switching affect my credit score?
A current account application can leave a search on your file. Switching itself does not usually hurt your score if you keep up with payments.
Can I get more than one bonus?
Sometimes, but each bank sets its own rules. Check whether an offer is limited to new customers or people who have not held an account recently.
This guide was drafted from the video's details and general task knowledge. It has not been checked against the full video. Check the video and relevant product instructions before following a procedure. Report a correction.
