Barclays, NatWest, and First Direct are offering new customers £200 for switching their bank accounts, with each deal carrying its own unique bonuses. The offers have been highlighted by Martin Lewis' MoneySavingExpert.com (MSE) to help consumers choose the best option.
Barclays Switching Offer
Barclays provides a £200 bonus plus 5% cashback on fuel at Tesco forecourts and half-price Apple TV for six months. MSE describes it as "a strong choice if you want a simple account that pays a big cash bonus, or if you usually buy fuel at Tesco." To qualify, applicants must start the switch by 27 August. If completed by 31 July, they can also earn 5% cashback (maximum £10 per month) on fuel purchases of £5 or more at Tesco using the debit card.
NatWest Switching Offer
NatWest offers a £200 bonus, £36 annual cashback, and a 5.25% interest regular saver account. MSE calls it "a decent option with ongoing cashback and a strong regular saver." Customers must pay in at least £1,250 and log in to the mobile app to receive the bonus.
First Direct Switching Offer
First Direct's 1st Account gives new customers £200, access to a 7% regular saver, fee-free overseas spending, and a £250 interest-free overdraft for most. MSE says it is "a clear winner if you want top customer service, or if you need an interest-free overdraft." To get the bonus, applicants must open the account via the app (or online for joint accounts), switch an account with two or more direct debits or standing orders within 45 days, pay in £1,000 or more, and make five or more debit card payments.
