Savers looking to switch can get an extra £150 paid into their account, but you need to act now as there is just one day left to secure the offer.
The Co-operative Bank is currently offering a £75 switching offer as well as three £25 payments over three months.
You get the £75 when opening a qualifying account using the Current Account Switch Service, and then a £25 monthly payment for three months.
The offer applies when opening a Standard Current Account, as well as a Privilege, Privilege Premier, Current Account Plus or Everyday Extra account.
The offer ends on Sunday, November 24. You cannot get the offer if you had a switch incentive from the bank since November 1, 2022.
To secure the £75 in your account, you need to deposit £1,000 or more and have two or more active direct debits.
You will also need to make 10 or more card or digital wallet transactions. Two other qualifying rules are you must register for online banking or the mobile app, and you have to set up the debit card in a digital wallet, such as Apple Pay, Samsung Wallet or Google Pay.
Any deposits and transactions before the day of your switch will not count towards the qualifying number you need.
To get the £25, you need to deposit £1,000 or more each month, make 10 or more card or digital wallet transactions, and have two or more active direct debits.
The £25 payment is available for the three months after your switch, with no option to extend this if you are not eligible for one of the months.
Several other banks have switching offers with payments for those opening accounts with them.
Lloyds Bank is offering £200 while Santander will give you £150. You can also get £180 if you sign up with NatWest, a £175 payment from Nationwide or a £175 payment from First Direct.
Other perks to consider when thinking about switching banks is that some accounts come with benefits such as travel or mobile phone insurance.
By using the Current Account Switch Service, all your direct debits are transferred over to the new account.
John Dentry, product owner of the Current Account Switch Service at Pay.UK, said: “Many banking providers now offer resources like workshops, online tools, and financial literacy programs to support their customers in building financial skills, an essential step toward managing money more confidently and avoiding financial pitfalls.”
He added: “Whether it’s choosing the right current account or learning how to manage your finances effectively, the right support can make a real difference in financial resilience.”
