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There are currently several banks that offer almost 200 £ just for switching to them.
Usually switch offers are only available for a short period of time.
Many consumers in the UK have usually more than one bank account. In order to benefit from the switch a range of conditions have to be met.
At the time of writing the Royal bank of Scotland offers £175 for switching.
A bank account switch should not take longer than 7 days.
In order to qualify for the switch offer the bank states that new customers need to do the following.
Apply online or via our mobile app to switch a current account held elsewhere into a Royal Bank account between 13th September and 20th October 2022 at 5pm to receive our offer of £175.
You must also deposit £1,250 into your account, once opened and log into our mobile banking app before 2nd December.
There may be other requirements to be able to benefit from the Switch offer, which are usually stated in the terms and conditions.
A credit check is usually performed prior to approval of the bank account switch.
If there are standing orders or direct debits on the old account their switch to the new bank may not be automatic.