Best current account cash switch offers from banks in January 2025
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Customers can pick up hefty cash bonuses for switching providers but be sure to check the rules suit your circumstances. Whether your own bank isn’t giving you the deals which are right for you or because you’re taking charge of your finances and realising you want more than your current provider offers, switching bank accounts in the UK is a far less painful process than many realise.
Using the Current Account Switch Service (CASS), banks are able to seamlessly transfer your funds, your payee details, your direct debits and more in just a matter of days - without you having to go back and forth between old and new, telling them what you want.
And what’s more, in some cases the battle for new clients means they will offer significant rewards to leave your current bank, often in cash and sometimes with other bonuses attached, such as higher rates of interest in a new savings account. Here are the best current account offers on the market in January 2025 - if any are of interest, be sure to check the terms and conditions to make sure they suit your personal circumstances and ensure you can fulfill the criteria or you may not get the full reward.
For initial reward plus bonuses, First Direct come out on top of the current offers. Open a 1st account and you’ll not only get £175 cash, but also access to a regular saver account paying a hefty seven per cent - this compares well with other regular savings account rates which were available at the start of the month. The rate is fixed for a year and other terms are attached with this separate saver account.
