{"id":26959,"date":"2025-07-27T09:55:07","date_gmt":"2025-07-27T09:55:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/26959\/"},"modified":"2025-07-27T09:55:07","modified_gmt":"2025-07-27T09:55:07","slug":"lloyds-natwest-barclays-first-direct-and-santander-sending-890-to-customers-personal-finance-finance","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/26959\/","title":{"rendered":"Lloyds, Natwest, Barclays, First Direct and Santander sending \u00a3890 to customers | Personal Finance | Finance"},"content":{"rendered":"

Bank customers are being sent a total of \u00a3890 by five high street banks Lloyds<\/a>, Natwest<\/a>, First Direct, Santander<\/a> and Barclays<\/a> thanks to lucrative bank switching bonuses that are back on the market for a limited time.<\/p>\n

And individual customers could theoretically grab all of that \u00a3840 because there\u2019s nothing to stop you switching multiple bank accounts or switching multiple times in order to rack up several bonuses.<\/p>\n

Right now, the four banks will offer up to \u00a3185 each to lure customers to ditch their existing account and swap to them instead.<\/p>\n

Bank customers are notoriously \u2018sticky\u2019, with the majority who were previously surveyed by Martin Lewis admitting that they hadn\u2019t changed their bank in over 20 years. That\u2019s the reason bank switching bonuses are so lucrative; they have to be in order to lure customers away from bank accounts they have grown used to using for years and in some cases even decades.<\/p>\n

Bank switching is easy and instant – once the switch is initiated, the bank switching service will take care of everything within 7 days and all your direct debits will be transferred over, too.<\/p>\n

Right now, Club Lloyds<\/a> is offering \u00a3185 to switch, lus other perks including 12 months of Disney Plus and access to a linked regular saver paying 6.25% interest fixed for a year. The catch is you can\u2019t switch from a Halifax, Bank of Scotland or Lloyds account and you need to pay in \u00a35 a month to maintain the account, so it\u2019s worth it if you earn \u00a32,000 or more.<\/p>\n

Santander<\/a> is giving customers who switch \u00a3180, as well as a \u00a325 Amazon voucher, with a linked 6% easy-access savings account and 1% cashback on bills like council tax and energy and regular spending like supermarket shopping.\u00a0<\/p>\n

First Direct is giving customers \u00a3175, plus a 7% regular savings account and fee-free overseas spending.\u00a0<\/p>\n

Barclays<\/a> is giving customers \u00a3175 free to switch, plus 4.61% interest on cash up to \u00a35,000, and an Apple TV subscription.\u00a0<\/p>\n

To get the cash from Barclays, you need to join its \u00a35 a month Blue Rewards scheme, which also requires \u00a3800 a month paid into the account.<\/p>\n

Finally, Natwest is paying \u00a3125 to customers who switch, plus \u00a350 on top for anyone who opens its 5.5% interest linked regular saver.<\/p>\n

There are no laws against having multiple bank accounts in your name from multiple banks, and no laws or rules against switching various bank accounts regularly to get paid bank switch bonuses.<\/p>\n

In fact some people have what is known as a \u2018mule\u2019 account which they just switch constantly in order to grab switching bonuses – Martin Lewis told his ITV audience he heard of people making over \u00a31,000 a year from bank switching in this way.<\/p>\n

Speaking in June 2024 he said on his show: \u201cI know some people who made well over a grand just from switching accounts like that.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Bank customers are being sent a total of \u00a3890 by five high street banks Lloyds, Natwest, First Direct,…\n","protected":false},"author":2,"featured_media":26960,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[16823,16820,84,16822,59,16821,16819,12727,56,54,55],"class_list":["post-26959","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bank-switching-bonuses","tag-barclays","tag-business","tag-first-direct","tag-gb","tag-lloyds","tag-natwest","tag-santander","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/26959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=26959"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/26959\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/26960"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=26959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=26959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=26959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}