I have a few bank accounts on the go - I like to try and test out different ones and see what’s on offer. I had heard a lot about ‘switching’ accounts and the fact you could get free money just for opening an account with a different bank. It seemed too easy to get £150 or £200 for not really doing anything, so I decided to look into it.

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I had one account that I didn’t really use, so it was just sitting there. There was nothing wrong with the provider, but I felt no loyalty to it. I started doing research on the best switching offers - I didn’t plan on using the new account too much, so wasn’t too focused on features the actual account offered, more so the biggest bonus I could get!

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The bonuses varied from £20 to over £200 so I opted for the highest offer with First Direct.

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The Bonus on Offer:

• £175 cash for the switch
• £15 MoneySuperMarket Reward (a choice of voucher from select retailers)
• £25 Amazon voucher (an extra bonus by going through Money Saving Expert)

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Total: £215

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With Christmas round the corner, this extra cash was looking very appealing, but what did I actually have to do to get my hands on it?

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What I had to do to get the bonus:

• Switch using the Current Account Switch Service
• The account being switched must have 2 active direct debits or standing orders
• Deposit £1000 into the new account
• Make 5 Debit Card payments
• Log into Digital Banking
• Complete all of the above with 45 days of the new account opening

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Was it easy?

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Absolutely.

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First thing - I didn’t have two direct debits or standing orders set up on my existing account, so all I did was set up two standing orders of £2 to my own accounts - this took 2 minutes.

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Next - I applied for my new account with First Direct which opened the day after. I selected the option to switch, entered the details of my other account and that was that - 10 minutes max.

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Waiting Game - While waiting for my other current account to close and my new card and PIN to arrive, I logged into the new app, made the 5 payments (which was easy enough with Apple Pay) and transferred myself £1000 (which I transferred back shortly after).

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Result - My other account was closed within two weeks, balances and standing orders all transferred and confirmation received (well within the 45 day limit).

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What about the bonus? I received the £175 within three weeks of meeting the criteria for the switch and the extra rewards about a week after that. So yes, while it took a little while, it really was that easy to do. It took virtually no time at all and the best part is that you can do this again…and again. Banks change up their offers frequently, but there are always switching bonuses for you to take advantage of - so if you haven’t already, look into switching!

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