UK bank customers with accounts at Santander, Barclays, NatWest, Lloyds and other high street names are being told, bluntly, that loyalty no longer pays – but switching might.
As of Friday 28 November 2025, a flurry of bank account incentives worth up to £400 in cash (and as much as £900 in total rewards in some cases) is reshaping the current account market just weeks before Christmas. A blockbuster Barclays Premier £400 switch deal closed yesterday, but a crucial Barclays ISA bonus deadline falls today, while Santander has quietly sweetened its own offer with an extra £25 Amazon gift card on top of £200 cash. [1]
At the same time, MoneySavingExpert’s “Best current accounts” guide was updated this morning (28 November) with fresh rankings of the top switch bonuses from Santander, Lloyds, NatWest, Nationwide and First Direct, and a new explainer on how to stack the deals safely. [2]
Here’s what’s changed today, which deals are still on the table, and what it all means if you bank with Santander, Barclays, NatWest, Lloyds, Halifax or HSBC.
What’s new today – 28 November 2025
1. Santander adds a £25 Amazon sweetener to its £200 switch bonus
Personal finance site Be Clever With Your Cash confirms that Santander’s already‑running £200 switching bonus has been updated on 28 November 2025 to add an extra £25 Amazon gift card when you apply via a partner link and meet extra spending criteria. [3]
Key points:
- £200 switch bonus when you move a full current account to one of:
- Santander Everyday, Edge, Edge Up or Edge Explorer.
- New from today: an extra £25 Amazon voucher if you:
- Complete a full switch via the Current Account Switch Service (CASS), and
- Make five debit card transactions by 31 December 2025. [4]
- Requirements typically include:
- Switching via CASS and closing your old account within 60 days
- Paying in £1,500 within the first 60 days
- Having two qualifying Direct Debits (often household bills).
Santander’s deal is now one of the most generous for mainstream customers when you combine the £200 cash, the £25 voucher and ongoing 1% bills cashback on some accounts. [5]
2. Last day for Barclays Isa “up to £500” bonus – on top of the now‑ended £400 switch
The much‑publicised “biggest ever bank switch” from Barclays – a £400 cash bonus for switching to a Premier account – closed to new applicants on 27 November 2025. However, today (28 November) is still a key date for one part of that package: the up to £500 ISA transfer reward. [6]
According to Which?, the Barclays Isa transfer offer pays: [7]
- £100 for transferring £25,000–£49,999.99
- £200 for £50,000–£99,999.99
- £500 for £100,000+
To qualify, all Isa transfer steps must be completed by 28 November 2025 – that’s today – with the cash reward paid within 60 business days of the final qualifying transfer or within 60 days after 28 November, whichever is sooner. [8]
Anyone who didn’t start the process in time has now missed the combined £900 Barclays package (up to £400 for switching current accounts + up to £500 for Isa transfers). But the deal is still working its way through the system for existing applicants.
3. Martin Lewis and MSE push switching harder – “up to £1,500+” possible
On a recent Martin Lewis podcast, the money expert walked through seven banks willing to pay you to switch, explaining how serial switchers can earn “thousands” over time by hopping between incentives. [9]
A piece published today by SSBCrack News summarises his Christmas special, noting:
- Viewers reported earning over £1,000 in total from multiple switches.
- The headline offers currently include:
- Santander: £200
- Barclays (standard account): £200
- Club Lloyds: £200
- First Direct: £175
- Nationwide: £175 (available before around 6 December)
- NatWest: £175 with payouts expected by Boxing Day. [10]
The article stresses that the Current Account Switch Service (CASS) moves all Direct Debits and standing orders in seven working days, with compensation if anything goes wrong – a point echoed in guidance from MoneySavingExpert and GB News. [11]
4. MoneySavingExpert refreshes its “Best current accounts” list
MoneySavingExpert (MSE) updated its flagship “Best current accounts” guide today, 28 November 2025, and once again puts switch bonuses front and centre. [12]
Its “Top bonuses for switching” section now lists:
- Santander – £200 + 1% bills cashback & £25 Amazon voucher
- Lloyds – £200 + perks (Club Lloyds)
- First Direct – £175 + highly‑rated service & £250 0% overdraft
- NatWest – £175 + up to £36/yr cashback on the Reward account
- Nationwide – £175 + 1% cashback on FlexDirect debit card spending (intro period). [13]
MSE also emphasises that:
- Switching is free and takes 7 working days,
- More than 50 providers are signed up to CASS, and
- Some people have already made £1,000+ by repeatedly switching. [14]
The main switching deals today – bank‑by‑bank
Santander: £200 cash + £25 Amazon voucher + cashback
Who it’s for: New or recent customers switching from another bank into selected Santander accounts.
Headline incentive (28 November 2025):
- £200 bank switch bonus, plus
- £25 Amazon gift card if you make five debit card payments by 31 December 2025 via a qualifying link. [15]
Eligible accounts typically include:
- Everyday – no fee, standard current account
- Edge – £3/m fee, 1% cashback on selected household bills, 6% linked saver
- Edge Up – £5/m fee, higher cashback & interest
- Edge Explorer – packaged account with worldwide travel, phone and breakdown cover. [16]
Key conditions (check the small print):
- Complete a full CASS switch from another bank and close the old account within 60 days.
- Pay in £1,500 in the first 60 days.
- Have two qualifying Direct Debits from a list of major utilities and services. [17]
- You won’t qualify if:
- You held any Santander current account on 1 January 2025, or
- You’ve ever had a Santander switch bonus before (including legacy brands like Cahoot and Cater Allen). [18]
Barclays: £400 switch deal closed, but ISA bonus deadline hits today
Switch bonus status (as of 28 November 2025):
- The £200 / £400 switching bonuses for Barclays Bank Account and Premier Current Accountclosed on 27 November 2025 – new customers can no longer apply. [19]
- Those who applied in time still qualify if they:
- Opened the account via the Barclays app,
- Switched using CASS with at least two Direct Debits, and
- Paid in £2,000 (or £4,000 for Premier) within 30 days. [20]
ISA bonus – last call today:
- The Barclays ISA transfer reward pays up to £500 and requires:
- Holding a Barclays current account, and
- Transferring in at least £25,000 to eligible cash ISAs (more for higher tiers).
- All steps must be completed by 28 November 2025 to get the bonus, with payout within 60 business days. [21]
If you didn’t start the process before today, you’ve missed this particular Isa deadline, but similar products may appear again in 2026.
NatWest: £175 + up to £36 a year cashback
Who it’s for: New customers switching in via CASS to Select or Reward. [22]
Incentive:
- £175 cash for a full CASS switch into NatWest Select or Reward.
- Reward account also offers £5 per month in Rewards when you pay in £1,250/month and set up two £2+ Direct Debits – equivalent to £36 a year after the £2 fee. [23]
Key conditions:
- Apply online or via the NatWest app.
- Within 60 days you must:
- Pay in at least £1,250 (can be multiple payments staying in for 24 hours), and
- Log in to the NatWest mobile banking app.
- NatWest pays the £175 within 30 days once conditions are met. [24]
You’re not eligible if you already have a NatWest current account, are switching from Royal Bank of Scotland / Ulster Bank NI, or have previously had a NatWest Group switching incentive.
Nationwide: £175 for FlexAccount, FlexDirect or FlexPlus
Nationwide continues to offer £175 for customers who switch their main account to FlexAccount, FlexDirect or FlexPlus using CASS. [25]
- You must:
- Start the switch on or after 18 September 2025,
- Complete it within 28 days,
- Have at least two Direct Debits to move,
- Pay in £1,000 within 31 days and make one debit card payment. [26]
SSBCrack’s summary of Martin Lewis’ TV special suggests this offer is expected to be available until around 6 December, but Nationwide hasn’t confirmed a hard end date and says it can withdraw the deal at any time. [27]
Lloyds: £200 + potential £250 in refer‑a‑friend bonuses
Lloyds is paying £200 to new and existing customers who switch into a Club Lloyds or Lloyds Premier account. [28]
- Club Lloyds core features:
- £5/month fee waived if you pay in £2,000/m
- Choice of perks such as cinema tickets or Disney+ / magazine subscriptions
- Access to a Club Lloyds Monthly Saver at around 6.25% AER on smaller regular savings. [29]
- You must:
- Complete a full CASS switch with at least three Direct Debits, and
- Not have had a switching bonus from Bank of Scotland, Halifax or Lloyds since April 2020. [30]
On top, a refer‑a‑friend scheme can pay £50 each (referrer + friend) up to five times, meaning £250 extra if you know a few people willing to move. [31]
Be Clever With Your Cash notes that the current Lloyds switch offer is scheduled to end on 17 December 2025, making this a key pre‑Christmas deadline. [32]
First Direct: £175 + 0% overdraft and strong customer service record
First Direct continues to be a favourite for those who value service as much as cash.
- £175 switch bonus for new customers using CASS,
- £250 interest‑free overdraft buffer,
- No monthly account fee, and
- Consistently top of customer satisfaction tables. [33]
Conditions include:
- Full CASS switch with at least two Direct Debits or standing orders,
- Paying in £1,000 within 30 days of opening, and
- Registering and logging into digital banking. [34]
You can’t get the bonus if you’ve ever had a First Direct product before, or held an HSBC current account on or after 1 January 2018.
Why Santander, Barclays, NatWest, Lloyds, Halifax and HSBC customers are being told to move
A LinkedIn post from the Daily Express this week summed up the mood:
“Customers with banks including Santander, Barclays, NatWest, HSBC, Lloyds and Halifax can get paid to leave and go elsewhere.” [35]
Consumer journalists and bloggers are effectively saying:
- If you’re with a big legacy bank that isn’t paying you a bonus or meaningful interest, you may be leaving free money on the table.
- You could switch to a rival, grab £175–£200, then – once the terms allow – switch again to the next bank on the list.
This is especially pointed for long‑standing customers who:
- Keep their salary, bills and savings with one bank out of habit,
- Earn little or no interest on their current account, and
- Are seeing their budgets squeezed by energy, rent and food costs.
For example:
- A Santander customer could switch to Nationwide for £175,
- Later move on to Lloyds or NatWest for another £175–£200,
- And potentially finish the year several hundred pounds better off, alongside improved savings rates or cashback.
That’s the strategy Martin Lewis has championed this autumn via TV and his long‑running “Free £400 for switching bank” podcast episode, in which he breaks down how to chain multiple deals while watching your credit file. [36]
Deadline watch: key dates around Christmas 2025
If you’re thinking of switching, timing now matters as much as the bank you pick. Based on today’s information:
- 27 November 2025 – PASSED
- Barclays £200/£400 switch bonuses for standard and Premier accounts closed to new applicants. [37]
- 28 November 2025 – TODAY
- Around 6 December 2025 (indicative)
- Martin Lewis’ Christmas special, summarised by SSBCrack, suggests the current Nationwide £175 deal is available until early December – but Nationwide itself gives no fixed end date, so this could change at short notice. [41]
- 17 December 2025
- Lloyds £200 switch bonus is currently scheduled to end. [42]
- 31 December 2025
- Deadline to make five debit card transactions to trigger Santander’s £25 Amazon voucher add‑on. [43]
Remember: all these offers say they can be withdrawn at any time, even earlier than advertised. Always double‑check the bank’s own site before applying.
How the Current Account Switch Service protects you
One big reason experts feel comfortable telling people to move is the robustness of the Current Account Switch Service (CASS):
- It moves your balance, Direct Debits and standing orders to your new bank within seven working days. [44]
- Any payments accidentally sent to the old account are automatically redirected for at least three years. [45]
- If something goes wrong and you incur charges, the new bank must refund you.
On top of that, UK banks are covered by the Financial Services Compensation Scheme (FSCS), which protects up to £85,000 per person, per banking group if a bank collapses. [46]
That doesn’t mean switching is risk‑free – you still need to:
- Download old statements you might need later,
- Check you’re not giving up valuable benefits (e.g. a good mortgage rate or linked saver), and
- Avoid applying for too many accounts at once if you expect to apply for a major loan or mortgage soon.
Quick FAQs for would‑be switchers
Does switching bank hurt my credit score?
Every new current account typically involves a hard credit search, which can cause a small, temporary dip in your score. Multiple applications in a short period can look “busy” to some lenders.
If you’re planning a mortgage or major loan in the next few months, many experts suggest limiting switches until after that application has completed, even though mainstream current account applications are usually fine for most people with decent credit.
Can I keep switching and grab multiple bonuses?
Yes – provided you meet each bank’s eligibility rules and haven’t previously claimed their switch bonus, you can move from bank to bank and collect several payments across a year.
Real‑world examples gathered by Martin Lewis and SSBCrack’s write‑up show some people earning £1,000+ in total by sequencing deals from the likes of Santander, Nationwide, NatWest, Barclays, Lloyds and First Direct. [47]
But each application is a commitment:
- You must move your main account (not just open a spare one)
- You must set up and maintain the required Direct Debits / pay‑ins
- And you need to diarise deadlines to avoid missing out.
Is this “free money”?
The bonuses come with strings:
- Some accounts charge monthly fees (e.g. Barclays Blue Rewards, Santander Edge, Club Lloyds).
- You often need to pay in £1,000–£2,000 per month, which might not be realistic for everyone. [48]
- If you switch away from a bank with a good linked saver or cashback, you could lose more than the bonus gives you.
So think of switch bonuses as one‑off windfalls that can work well if you:
- Already want to move,
- Can meet the criteria comfortably, and
- Have checked that you’re not sacrificing something more valuable.
Bottom line: today’s message to UK bank customers
On 28 November 2025, the current account market is sending a clear message:
- Loyal customers at Santander, Barclays, NatWest, Lloyds, Halifax and HSBC are not being rewarded just for staying put.
- But switchers willing to move their main banking can still grab £175–£200 per bank, with Santander now offering £200 plus a £25 Amazon voucher and Lloyds, Nationwide, NatWest and First Direct all competing hard for new business. [49]
If you’re feeling the squeeze ahead of Christmas, this kind of money can be the difference between scraping by and having a small buffer. Just make sure you:
- Read the official T&Cs on the bank’s own website before applying.
- Check you meet the eligibility rules and can comfortably handle the pay‑in and Direct Debit requirements.
- Consider the impact on your credit file if you plan big borrowing soon.
Handled carefully, 2025’s wave of switching offers means bank customers really can be paid to leave and go elsewhere – and, for once, the cost‑of‑living crisis has handed consumers a small but welcome advantage.
References
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