HSBC and First Direct, and NatWest and RBS are in the same banking groups. You can take one offer from each group.
Which bank pays the most to switch?
Barclays, at £300, as of 31 October 2026.
Which switch bonus pays fastest?
Nationwide. As soon as about 10 days after the switch if you meet the conditions straight away, and up to 41 days if you use the whole window.
Which switch offer needs the smallest pay-in?
Lloyds, which does not ask you to pay anything in.
Which switch offers don’t need direct debits?
NatWest and RBS, which don’t ask for any direct debits as part of the switch. Every other live offer wants two or three.
Can I get more than one switch bonus?
Yes, from different banking groups, one after another, as long as you meet each bank’s rules. Banks in the same group, like HSBC and First Direct, only pay one bonus between them.
This is general information and isn’t financial advice. Banks can change or withdraw offers at any time.