October 14th 2024.
Switching bank accounts may not be at the top of your to-do list, but it could be worth considering. And now might just be the perfect time to do it, as bank switch deals are making a comeback with a vengeance. In the past few weeks, four different offers have launched, all with the promise of free cash if you move your banking from a competitor. But that's not all - these current accounts also offer access to some of the highest-paying savings accounts. So, if you haven't been switching your bank account every few years, now is your chance to take advantage of these deals and potentially earn some extra money. However, if you've already received a bonus from these banks in the past, you might be disqualified from this round.
Let's take a closer look at these offers, shall we? First up, we have Lloyds Bank. By completing a simple three-day switch, you can receive £200 directly into your account. All you need to do is open a new Club Lloyds, Club Lloyds Silver, or Club Lloyds Platinum account, and transfer three direct debits. But it doesn't stop there - you can also choose from a selection of freebies, such as a year-long subscription to Disney+ or six cinema tickets. On top of that, you'll have access to a regular saver with an impressive interest rate of 6.25%. Just keep in mind that this offer ends on December 10th.
Next on the list is First Direct, offering a cash bonus of £175 for new customers. However, this switch is a bit more involved, as many of these deals have become this year. Once you open the account, you'll need to transfer two direct debits and use your debit card at least five times within 45 days. But the extra effort might be worth it, as you'll also have access to a regular saver with a higher interest rate of 7%.
Nationwide is also getting in on the action, with a potential bonus of £175 for switching to a personal account and an additional £175 for switching to a joint account. That's a total of £525 for couples who switch three accounts. To qualify, you'll need to deposit £1,000, use your debit card, and transfer two direct debits. This offer is available for both new and existing FlexDirect current account holders and includes a competitive interest rate of 5% on balances up to £1,500, along with other perks such as cashback and access to a regular saver with an interest rate of 6.5%.
Lastly, we have Co-operative Bank, which offers a slightly more complicated deal. By switching to a standard current account and meeting certain requirements, you can earn £75. And if you continue to meet these requirements for the next three months, you can receive an additional £75, bringing the total to £150. Plus, you'll also have access to a regular saver with a rate of 7%. Just make sure to read the key conditions for each offer before making a decision, which you can find at becleverwithyourcash.com/banks.
If you want more tips and advice on how to make the most of your money, you can follow award-winning blogger and podcaster Andy on Instagram and YouTube or visit his website becleverwithyourcash.com. And if you have a story to share, don't hesitate to get in touch by emailing the provided email address. Happy switching!
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