Santander, Nationwide and First Direct are giving up to £200 free cash to customers who switch to an eligible bank account.
The cash comes from three switching offers currently available at each of the banks, with Santander giving customers a free £200 bonus, while both Nationwide and First Direct offering £175 for free to those who switch to a qualifying account. To get £200 free from Santander, customers simply need to switch to a Santander Edge current account using the Current Account Switch Service. The account gives you 1% cashback on selected household bills (up to £10 a month) paid by Direct Debit, is fee-free for spending abroad, and also gives customers access to a Santander Ede saver which has an exclusive rate of 6% AER.
The account has a £3 monthly fee and customers must pay in at least £500 per month, and have two active Direct Debits. Customers who complete the switch within 60 days and meet all of the qualifying criteria will receive a free £200 cash bonus, so if you make the move now you should receive it by mid-March, 2026.
Nationwide is also offering a free cash bonus to customers of £175 to customers who switch to a FlexDirect, FlexAccount or FlexPlus current account using the Current Account Switch Service.
Customers must move over at least two Direct Debits as part of the switch and complete it within 28 days, and at least £1,000 must be paid into the account within 31 days of opening or applying to switch, along with one debit card payment.
To qualify for the free cash bonus, this must be the first time you’ve had a Nationwide current account switch offer since 2021.
The account gives you 5% interest for the first 12 months, up to £1,500, and you can earn 1% monthly cashback (up to £5 a month) when you spend on your debit card, giving you up to £60 cashback for 12 months.
If you meet all of the switching eligibility criteria, Nationwide will pay the free £175 into your new account within 10 days of meeting all of the requirements, meaning if you open one now you could get the cash before the end of December.
First Direct is also offering a free £175 welcome bonus to customers who switch to its 1st Account. The account gives you access to a 7% AER Regular Saver, a £250 interest-free overdraft and no First Direct debit card fees when spending abroad.
To qualify for the cash bonus, customers need to switch using the Current Account Switch Service, including at least two Direct Debits or standing orders, and within 45 days of opening the account deposit £1,000, make at least five debit card payments, and log on to digital banking.
If you meet all the switch criteria, First Direct will make a direct credit of £175 to your 1st Account before the 20th of the following month, so if you open an account now you should receive the bonus by January 20, 2026.
