Bank
Switching
101
A comprehensive guide to earning free cash by switching bank accounts in 2025. Learn exactly how to do it safely, legally, and repeatedly.
Up to £175
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 — 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 £100 and £175 — 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 Rather than publishing a list that goes out of date, I maintain a dedicated, regularly updated page with the latest offers.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
Important update — Chase & the dummy account strategy
Chase has recently sent emails to some users about their use of the dummy account strategy. This does not necessarily mean the strategy is against Chase's terms, but it is worth being aware of. If you receive such an email, read it carefully. The dummy account strategy is most useful if you want to run multiple switches at the same time — if that's not your goal, the traditional approach below is simpler and carries less admin.
You should never switch your main bank account — this carries much worse credit score implications. Instead, create a dummy account that exists solely for the purpose of switching.
Option A — Traditional route (simpler)
If you just want to do one bank switch every few months, simply open one burner account (e.g. a free Chase or Starling account), set up direct debits on it, and switch it to your target bank. Repeat when you're ready for the next one. This is far less admin, and you only ever need to manage one extra account.
Option B — Multiple switches at once (more admin)
Chase Bank lets you create additional sub-accounts in seconds — each with a unique sort code and account number. This lets you run several switches simultaneously, which maximises earnings in a short time.
Important Chase note
Always keep at least 2 accounts open within Chase. Switching away your only Chase account closes your entire Chase profile. Switching additional sub-accounts does not cancel your debit card.
Step-by-step in Chase
Open Chase app
Make sure you already have an existing Chase account open.
Tap 'Add +'
Creates a brand new current account with a unique sort code and account number in seconds.
Set up direct debits
Use the new sort code/account to set up your direct debits (Moneybox, 30p newsletter, or PayPal).
Initiate the switch
Once direct debits are active, initiate the switch using this account as the "outgoing" account.
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 Chase (if you haven't already) and create a new sub-account using 'Add +'. 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 Chase 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: With multiple Chase dummy accounts, you can run several switches simultaneously.
- 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 (like Monzo) give extra rewards for successful referrals. Share your link once you've joined.
- Watch for seasonal boosts: Banks often increase their switch offers around January and September. Check comparison sites regularly.
FAQs
Questions? Get in touch
If you have any questions about bank switching or this guide, reach out on TikTok or by email — I reply to everything.