Every live switching bonus in May 2026 — full eligibility requirements, deadlines, tips, and honest advice on what to check before you apply. Independent and unsponsored.
Last updated: 25 May 2026All offers require you to use the Current Account Switch Service (CASS), which moves your Direct Debits, standing orders, and balance automatically in 7 working days. The ★ symbol marks the Direct Debit requirement — this is where BeSwitchReady helps.
| Bank | Bonus | DDs needed | Min pay-in | Card spend? | Status |
|---|---|---|---|---|---|
| Lloyds Club → | £200 | 3 DDs ★ | None (£3/mo fee) | £100 req. | Ended 30 Apr |
| Barclays → | £200 | 2 DDs | £2,000 / 30 days | No | 28 May 2026 |
| Santander → | £180 | 2 household ★ | £1,500 / 60 days | No | Check site |
| First Direct → | £175 | 2 DDs | £1,000 / 45 days | 5 payments | Check site |
| NatWest → | £150 | 2 DDs via CASS | £1,250 / 60 days | No | 28 May 2026 |
★ These offers have specific Direct Debit requirements — check the offer detail above before applying.
Yes — there's no legal limit on how many times you can switch. Each bank's restriction is that you can only claim their specific bonus once (and some have a 12–24 month cooldown before you can claim again). You can work through Barclays, then First Direct, then NatWest in sequence — all as separate bonuses from separate banks. Many people collect £500+ per year this way.
A Direct Debit mandate where payments are actually being collected on a regular basis. A mandate where no payment has been taken for a long time may not count — most banks look for active, collecting mandates. BeSwitchReady's Plan A and Plan B collect £1/month each, making them genuinely active. Always check the specific definition in a bank's offer terms.
Opening a new current account typically involves a soft or hard credit check, which may leave a small temporary mark on your credit file. Multiple applications in a short period can be noticed by lenders. If you're planning a mortgage application, pause switching activity 6–12 months beforehand and consult a mortgage broker.
Switch bonuses are generally treated as savings income under the Personal Savings Allowance. Most basic rate taxpayers can earn up to £1,000 in savings interest/income per year tax-free — meaning most people pay no tax on switching bonuses. If you're a higher rate taxpayer your allowance is £500. For certainty on your specific situation, consult a tax adviser.
CASS guarantees the switch completes within 7 working days. It automatically moves all your Direct Debits, standing orders, and your balance to the new account. Payments sent to your old account are redirected for at least 3 years. You don't need to notify anyone — the switch service handles everything.
Yes — CASS closes your old account as part of the switch. But you can have multiple current accounts simultaneously. The best approach for serial switchers is to maintain a dedicated switching account specifically for this purpose, while keeping your main account (salary, regular bills) completely separate. That way you're always switching the right account without disrupting your financial life.
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