Banking News

Consumers looking to boost their finances by getting cashback from switching bank accounts need to act quickly as NatWest and Royal Bank of Scotland’s offers are due to end next week.

Both NatWest and Royal Bank of Scotland (RBS) enable new and existing customers to earn £125 by switching to a specified current account, but both deals end on 19 November 2020. “Consumers looking to take advantage of switching cash perks do not have long to do so, as current account providers continue to adjust their offerings,” explained Rachel Springall, finance expert at Moneyfacts.co.uk. “Most recently, Bank of Scotland and Lloyds Bank pulled their £100 switching offer and next week NatWest will pull its £125 cash perk.”

At the moment HSBC and Metro Bank are also currently offering switching deals. With HSBC, customers can earn £125 by switching to a HSBC Premier or Advance current account. Meanwhile, Metro Bank is offering customers up to £250 when they refer a friend to the bank through its Metro Bank Refer a Friend switching offer. With this deal, which is due to end on the 11 December 2020, the bank pays £50 per friend referral up to a maximum of five friends.

Today NatWest has launched a switching deal that will see new and existing customers earning £125 by switching accounts. Along with NatWest’s switching offer, four other providers offer customers switching incentives. Here we take a look at all the current switching incentives on offer.

HSBC has more than 40 million personal, wealth and corporate customers in 64 countries across the world. It is one of the big four banks in the UK and offers a range of financial services including mortgages, savings accounts, bank accounts, loans and credit cards.
Consumers that switch their bank account to HSBC can currently earn £125 cash bonus on specific HSBC accounts (subject to eligibility). We review its range of bank accounts and the HSBC mobile banking app.

Starling Bank announced that its accounts will now be available via desktop and laptop, in addition to its App on mobile devices. Starling Bank is now six years old, and this expansion to what is considered more traditional devices reflects a maturing of the bank as it seeks to broaden its customer base. We use this moment to take a look back on the development of Starling Bank so far and review its latest range of current accounts and business bank accounts.