# UK bank switching bonuses: CASS rules and July 2026 offers

> Banking & current accounts · Last updated 4 July 2026

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## Quick answer

The Current Account Switch Service moves your account in seven working days with payment redirection. In July 2026 HSBC pays £220 for switching with two direct debits, £2,000 pay-in and £500 card spend — the highest widely available bonus we track.

Bank switching bonuses are among the fastest legitimate cash boosts in personal finance. Rules are strict — read criteria before you start, and never switch accounts you rely on for benefits without checking payment timing.

## Key facts

- CASS guarantee redirects payments for 36 months and covers missed payments caused by switch errors
- Most bonuses require full switch (not partial), minimum pay-in and active direct debits
- Existing customers of the banking group are usually excluded
- Bonuses are typically not taxable for individuals on personal accounts

## Before you switch

List direct debits and standing orders — they transfer automatically but check student loan, HMRC and benefit payment dates around switch week.

Keep a small buffer in both accounts during the 7-day window in case of timing quirks.

## Meeting bonus criteria

Pay-in rules often require a minimum monthly deposit — salary or transfers from another account usually count. Card spend thresholds need genuine purchases, not ATM-only activity.

## Frequently asked questions

### Can I switch twice in a year?

Yes if you meet each bank's new-customer rules — but some offers exclude anyone who held an account with the group in the past 12 months.

## Primary source

https://www.currentaccountswitch.co.uk/the-guarantee

## Related

- [How to switch bank account](https://moneyguide.org.uk/how-to/switch-bank-account-uk/)
- [Featured offers*](https://moneyguide.org.uk/offers/)
- [Banking hub](https://moneyguide.org.uk/banking/)

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Independent UK money guidance from [Money Guide](https://moneyguide.org.uk). Information only — not regulated financial advice.