All information correct as at 30 June 2026
At the last Bank of England meeting it was decided that the base rate would be held at 3.75% The next meeting is set for Thursday 30 July 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
- Complete the switch within 28 days
- Pay in £1,000 within 31 days of switching
- Make 1 debit card payment
- Bonus paid within 10 days of completing the above
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 Switching Service
- Pay in £2,000
- Spend £500 on your debit card
- Can’t have had an account since 01 January 2023
Click here for more info
💳 First Direct – £175 Bonus
(+ an extra £25 for accounts opened between 18 May and 15 July)
- Open a 1st Account & switch with 2 direct debits/standing orders
- Pay in £1,000 (must stay for 24 hours)
- Use the debit card 5 times + log into the app
- Must be new to First Direct & HSBC (since 2018)
- Bonus paid by the 20th of the following month
Click here for more info
💳 Santander – £180 Bonus
- Open a Santander Edge, Edge up, Edge Explorer or Everyday Current Account
- Request a switch using the Current Account Switching Service
- Complete the switch within 60 days
- Pay in £1,500 within 60 days of opening
- Have 2 active ‘selected household’ direct debits
- 90 days after requesting the switch you will receive £180
Click here for more info
💳 Bank of Scotland – £175 Bonus
- Open a Classic, Silver or Platinum account
- Request a switch using the Current Account Switching Service
- Switch from an account held with another bank
- Transfer at least three active Direct Debits
- £175 bonus is paid within 10 working days
Click here for more info
💳 CHASE…want to earn up to £250?
- Refer up to 5 people and earn £50 each time!
- Create a code and send to your friends and family
- They open an account and type in the referral code when prompted
- They deposit £1,000 (it doesn’t have to stay in the account)
- You both immediately receive £50!
Click here for more info
The content produced by Financielle is for informational and educational purposes only and does not constitute financial advice