All information correct as at 31 July 2026
The Bank of England again held the base rate at 3.75% The next meeting is set for Thursday 17 September 2026.
Looking to switch banks? We compare the best UK bank switch offers for 2026, including cash bonuses but first check out Financielle’s top tips when it comes to switching your bank ⬇️
Financielle’s top tips 💸
✅ Write down the terms and conditions (don’t trip up on the fine print)
Tick off your terms and conditions and tick them off, as and when you take the action.
✅ Consider switching as a couple and double your money
Take advantage of two bank switches instead of one.
✅ Complete individual payments all at once
If you need to complete a set number of transactions to qualify, you can do them in the same supermarket or shop by paying for your items separately to hit the threshold.
✅ Set up a ‘burner’ current account so you can switch easier
If you want to keep your original current account, consider creating a ‘burner’ current account that’s easy to set up. You can use this as your ‘switching’ current account.
✅ Don’t be too loyal – there are deals to had
Your bank isn’t your football team. You should always consider what better deals you can get by switching your current account.
Watch and learn 📹
BBC Finance Expert and Financielle’s Co-Founder Laura Pomfret covered the art of bank switching on BBC Morning Live, you can watch the episode here
Bank switches
💳 Nationwide – £175 Bonus
- Open a FlexDirect, FlexAccount or a FlexPlus Account & switch with 2 active direct debits
- Must be switching from a non-Nationwide/non-Virgin Money account (first Nationwide switch offer only)
- Complete the switch within 28 days
- Pay in £1,000 & make 1 debit card payment within 31 days of the account opening
- Bonus paid within 10 days of completing the above
Click here for more info
💳 Co-operative Bank – up to £300 Bonus
- £125 when you switch and use the account
- £75 over 3 months when you actively use the account
- £100 loyalty bonus for eligible existing customers
- Deposit at least £1,500 within 30 days of the switch completing
- Complete 5 debit card transactions
- Have at least 2 active direct debits
- Register for online or mobile banking
- £125 paid within 7 days
- Not eligible if you’ve had a Co-op switch bonus since November 2022
Click here for more info
💳 NatWest Bank – £200 Bonus
- Apply for a Select or Reward account and complete a full switch
- Pay in £1,250 within 60 days of switching (must stay in the account for 24 hours)
- Log in to the mobile app
- £200 paid within 30 days of completing the above
- Not eligible if you held a NatWest current account on 06 May 2026 or have had a NatWest Group switch bonus before
Click here for more info
💳 HSBC – £220 Bonus
- Open a Bank Account via the mobile banking app
- Complete a full switch within 60 days (including 2 direct debits)
- Use the Current Account Switch Service
- Pay in £2,000 & spend £500 on your debit card within the 60 days
- Can’t have had an HSBC or First Direct current account since 01 January 2023
- Bonus paid within 60 days of completing the above
Click here for more info
💳 First Direct – £175 Bonus
- Open a 1st Account & switch with 2 direct debits/standing orders
- Pay in £1,000, use the debit card 5+ times & log into the app — all within 45 days of opening
- Must be new to First Direct & not opened an HSBC current account since 2018
- Bonus paid by the 20th of the following month
Click here for more info
💳 Bank of Scotland – £175 Bonus (offer ends 04 August 2026)🏃
- Open a Classic, Silver or Platinum account
- Request a switch using the Current Account Switching Service
- Switch from an account held with another bank (Halifax & Lloyds don’t count)
- Transfer at least three active Direct Debits
- £175 bonus is paid within 14 working days of the switch starting
- Not eligible if you’ve had a Lloyds/Halifax/Bank of Scotland switch bonus since 01 January 2023
Click here for more info
💳 CHASE…want to earn up to £250?
- Refer up to 5 people and earn £50 each time!
- Check the Rewards section of your Chase app — the offer is invite-only, so you’ll only see it if you’re eligible
- Create a code and send to your friends and family
- They open an account and enter the code in the Rewards section within 30 days of opening
- They deposit £1,000 within 30 days (it doesn’t have to stay in the account)
- You both receive £50 to your rewards balance once the conditions are met
Click here for more info
The content produced by Financielle is for informational and educational purposes only and does not constitute financial advice.