Bank
Switching
101
A comprehensive guide to earning free cash by switching bank accounts in 2026. Learn exactly how to do it safely, legally, and repeatedly.
Up to £200
per switch
100% Free
no cost to you
~20 minutes
to set up
Disclaimer & Affiliate Disclosure. This guide is for informational and educational purposes only. I am not a financial advisor. Offers and terms can change at any time, so always check the bank's website directly. Some links may be referral links; I may receive a small reward at no cost to you.
What is a bank switch offer?
Banks compete aggressively for current account customers. To attract new customers, many offer cash incentives (typically between £150 and £200) to anyone who switches their current account to them using the official Current Account Switch Service (CASS).
The CASS is a free, government-backed service that makes switching bank accounts easy and risk-free. It automatically moves all your direct debits, standing orders, and payment history to your new account within 7 working days.
The best part? There is nothing stopping you from doing this repeatedly. As long as you have a different "outgoing" account for each offer, you can stack multiple switches and earn hundreds of pounds per year.
The key insight
Banks only check whether you're a new customer, not whether you've done this before with other banks. Each offer is independent.
Setting up direct debits
Most bank switch offers require you to have active direct debits on the account you're switching from. A direct debit needs to be active (not just set up) to count.
Here are three easy ones to set up:
Moneybox
A savings app. Top up your savings pot for as little as £2/week. The money goes into your own savings.
Effectively free30p Newsletter
Pay as little as 30p via direct debit for a newsletter at 30pence.co.uk. You can do 60p or 80p for multiple DDs.
From 30p/monthPayPal
Top up your PayPal balance with as little as £10. Once the first payment is taken, the direct debit is active.
One-off paymentLatest offers
Bank switch offers change frequently. Rewards go up and down, new banks join, and old deals expire. Rather than publishing a list that goes out of date, I maintain a dedicated, regularly updated page with the latest offers.
Before you initiate any switch, always check the bank's own website for the most up-to-date terms and eligibility requirements.
The dummy account strategy
2026 update: Chase sub-accounts no longer work for this
Chase previously allowed users to create multiple current accounts within one app, making it a popular source of dummy accounts. This is no longer a viable method. Use Starling or Monzo as your dummy account instead. Both are free, take minutes to open, and work just as well.
You should never switch your main bank account, as this carries much worse credit score implications. Instead, create a dummy account that exists solely for the purpose of switching.
Option A: Sequential switching (simplest, recommended)
Open a free Starling or Monzo account. Set up direct debits from it. Switch it to your target bank. Once the bonus lands, open another free account somewhere and repeat. One switch every few months, minimal admin, still earns hundreds of pounds per year.
Option B: Multiple switches at once (more admin)
To run several switches simultaneously, you need a separate dummy account for each. Since the Chase sub-account shortcut is gone, this now means opening accounts at different providers, for example one Starling and one Monzo. Each needs its own direct debits set up before you switch it away. More setup, but lets you collect several bonuses within the same window.
Tip: Pick one approach
For most people, sequential switching (Option A) is the right call. The admin overhead of Option B has increased without the Chase shortcut. Unless you have a specific reason to stack several switches at once, keep it simple.
Opening a dummy account with Starling or Monzo
Download the app
Open a Starling or Monzo account. Both are free with no monthly fee, take 5–10 minutes online, and require no branch visit.
Note your account details
Save the new sort code and account number. This is what you'll enter when you initiate the switch.
Set up direct debits
Use the dummy account's sort code and account number to set up your direct debits (Moneybox, 30p newsletter, or PayPal).
Wait for the first payment
A direct debit must be active, not just set up, before you switch. Wait until the first payment has been taken.
Collect your reward
Once the switch completes and you meet all requirements, your cash reward is paid automatically.
Step-by-step walkthrough
Here's the exact process for a complete bank switch from start to finish:
Check eligibility
Read the bank's T&Cs to confirm you're eligible (usually: new customer only, haven't held that account before, must use CASS).
Create your dummy account
Open a free Starling or Monzo account (takes 5–10 minutes). Note the sort code and account number.
Set up active direct debits
Set up at least 2 active direct debits from the dummy account. Wait until the first payment has been taken before proceeding.
Apply for the new account
Apply for the new bank account online or in the app. During the application, select the option to switch using CASS.
Enter the dummy account details
When asked for the account you want to switch from, enter your dummy account's sort code and account number.
Meet all requirements
Within the deadline, complete any remaining requirements: minimum deposit, debit card payments, mobile app login, etc.
Receive your reward
Once all conditions are met, the cash reward is paid automatically, usually within 30 days of completing the requirements.
Maximising your rewards
Here's how to get more out of bank switching:
- Stack cashback: Use Quidco or TopCashback when opening new accounts to earn additional cashback on top of the bank's offer.
- Run offers in parallel: Open separate dummy accounts at different free providers (e.g. Starling and Monzo) to run more than one switch at a time. More setup than sequential switching, but earns faster.
- Wait for requalification: Some banks allow you to switch back after a waiting period (often 12–24 months). Track when you become eligible again.
- Refer friends: Some offers give extra rewards for successful referrals. Check the terms of any account you hold.
- Watch for seasonal boosts: Banks often increase their switch offers around January and September. Check comparison sites regularly.
FAQs
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