The account you keep matters more than the one that pays you to arrive.
13 accounts, each checked against the bank’s own page. What it pays you, what it costs to hold, and what it asks of you every month.
Sorted by the interest the account pays you, highest first. An account that pays nothing is not ranked below one that pays 0%, it simply has no rate to show. Set by William · Founder and deal editor
Worth knowingAll three accounts qualify, but only FlexDirect and FlexAccount are fee-free. FlexPlus costs £18 a month.
Worth knowingThe 3.00% includes a 2.00% bonus fixed for 12 months, then the rate tracks 2.75% below Bank Rate, and you cannot send money outside the UK.
Worth knowingYou pick one benefit at a time and can switch between them: 2.75% AER interest on your balance, 3% cashback on eating out, or Direct Debit cashback. You cannot have all three.
Worth knowingNew customers only: you cannot have held a first direct product before, or have opened an HSBC current account on or after 1 January 2018.
Worth knowingYou must not have held a NatWest current account on 6 May 2026, and a previous NatWest Group switch bonus rules you out for good.
Worth knowingOnly £150 is paid for switching and paying in a minimum £2,000 salary within 30 days. The other £150 needs five months of account use, including 10 eligible debit card transactions and £2,000 salary each month.
Worth knowingApply in the mobile app only, and pay in £2,000 plus spend £500 on the card within 60 days.
Worth knowingYou must not have held an RBS current account on 6 May 2026, and a previous NatWest Group switch bonus rules you out for good.
Worth knowingPremier customers only: you need £100k sole or £120k joint income paid in, £100k in savings or investments with NatWest, or a £500k NatWest mortgage, and you must pay in £15,000 within 90 days
Worth knowingThe cashback needs at least 15 payments a month, and it only counts card purchases: Direct Debits and bank transfers do not earn it.
Worth knowingStarling pays no interest on your balance, and its arranged overdraft is priced between 15.0% and 35.0% depending on your circumstances.
Worth knowingThe £5 monthly Club Lloyds fee is refunded any month you pay in £2,000 or more. You need to move at least 3 active direct debits, and direct debits set up after you start the switch do not count. You cannot get it if you have taken a switching offer from Lloyds, Halifax or Bank of Scotland since January 2023.
Worth knowingYou need to open their regular saver and deposit £200 on top of the £1500 pay in and 2 direct debits.
17 Oct
The 13 accounts we track, in figures.
| Accounts that | How many | The detail |
|---|---|---|
| Free to hold | 12 of 13 | The other one, Club Lloyds account, charges £5 a month |
| Pay interest on your balance | 3 of 13 | Highest: 5% AER, Nationwide FlexDirect, FlexAccount or FlexPlus, on up to £1,500 |
| Arranged overdraft | 39.9% EAR typical | Lowest: 35% EAR, Barclays Bank Account. 6 accounts state a rate |
| Ask for a monthly pay-in to keep the benefits | 1 of 13 | Nationwide FlexDirect, FlexAccount or FlexPlus: £1,500 a month |
| Pay you to switch right now | 9 of 13 | Biggest: £500, NatWest Premier Select account, if you pay in £15,000 |
| Switch offers with no Direct Debits to move | 3 of 9 | Biggest: £500, NatWest Premier Select account, if you pay in £15,000 |
| Fastest stated payout | 10 days | Nationwide FlexDirect, FlexAccount or FlexPlus, £175. 3 offers state no payout time |
Worked out from the same records as the accounts listed above. Switch offers change often: each account’s page has the full conditions and the date we last checked it.
Read first
Switching pays, and the rules about who qualifies are stricter than most people expect.
Some of these accounts pay you to switch. That is a different question.
The detail behind each one.
Every account above has its own page: what it pays, what it costs, the catch and the date we checked it.
The MoneyHQ app Free on iPhone and Android
Never miss a step of a switch bonus
- Watch an offer and hear the morning it moves
- Photograph a bill and see what to switch to
- Track a switch bonus through to the payout
