Halifax is offering £175 to new and existing bank customers who switch to its Reward accounts within the next few weeks.
The cash is being paid to people who move to a Reward Current Account or Ultimate Reward Current Account.
If you’re a Halifax customer already, you can still get the cash if you don’t already have one of the above two accounts.
You’ll need to switch your existing Halifax account to a Rewards account, including direct debits, to be eligible for the £175.
Both new and existing the Current Account Switch Service (CASS) for free to change bank accounts.
Alongside the switcher bonus, Halifax Reward Account customers can get either £5 cashback each month or a choice of other benefits including cinema tickets, magazine downloads or movie streaming.
To get a monthly reward, you need to spend £500 on your debit card each month or keep your balance at £5,000 or above, and pay in £1,500 or more each month and stay in credit.
The Reward Current Account comes with a monthly fee of £3 unless you pay in £1,500 or more each month.
The Ultimate Reward Current Account charges a heftier £17 monthly fee but has additional extras like travel, home and mobile insurance, plus car breakdown cover.
The switch deal goes live tomorrow (March 14) and ends on April 3.
If you're not eligible for the Halifax switch bonus, other banks are also offering perks for moving to them.
NatWest is paying new customers £200 when they switch to several NatWest, RBS or Ulster accounts - and you could also earn £36 a year in cashback.
To get the additional £36 a year cashback, you would need to go with either the NatWest Reward or RBS Reward accounts.
The cashback, which is worth £5 a month, is available when you use the mobile app and pay out two direct debits worth at least £2 every month.
But there is a catch. Both accounts come with a £2 monthly fee, which takes the cashback effectively down to £3 a month, or £36 over the year.
If you just want the £200 switch offer, the NatWest Select, RBS Select and Ulster Select accounts don’t come with a fee.
First Direct is paying new customers £175 if you move to its 1st Account.
You'll also get linked regular saver which pays 7% interest on up to £300 per month, and many get an ongoing £250 0% overdraft.
