November is the perfect month for couples to maximise their banking income. While most people are thinking about Christmas shopping, you could be earning £200–£400 in combined bank switching bonuses before the year closes. Here's how to make it work.
How couples can actually double their bonuses
The fundamental strategy is straightforward: each person in a relationship can switch independently and together you can both open a joint account. That's three separate switches happening simultaneously, each with their own bonus.
Here's what that looks like in practice:
Sarah and Mike's November move:
- Sarah switches her personal current account: £150 bonus
- Mike switches his personal current account: £150 bonus
- Sarah and Mike open a joint account: £150 bonus
- Total: £450 earned in November alone
Each of you meets the eligibility criteria separately. Each switch is treated independently by the bank's fraud systems. And critically, joint account bonuses are separate from personal account bonuses—most banks will give you both if you qualify.
The key word here is "if." Not all banks offer joint account bonuses, and some have restrictions about who's eligible. Before you get excited, check what your target banks are actually offering this November. Pop over to our live offers page to see which banks are currently paying bonuses and whether joint accounts are included.
The November advantage: Cooling-off periods and timing
Here's why November is particularly powerful for couples: it's the last viable month to switch before the year-end chaos hits.
Every bank switch comes with a 14-day cooling-off checker period. If you switch in November, your cooling-off ends in late November or early December. That means your bonus money—if it's tied to the end of the cooling-off period—arrives just before Christmas. Money at exactly the right time.
But there's a subtler advantage. November is when you still have headroom for multiple switches within a reasonable timeframe. If Sarah switches on November 1st and Mike switches on November 4th, your cooling-off periods end around November 18th and 21st respectively. You're not tripping over each other's cooling-off deadlines. compare bank bonuses that to trying to stack switches in December, when everything compresses and you risk getting trapped by the new calendar year.
You also get a psychological edge: once these switches complete, your bonus money is done. No waiting until March. No wondering whether it'll arrive. You've already won November's game, and December is just pure savings without the switching overhead.
Joint vs individual accounts: What works better
This is where couples often get confused, so let's be clear.
Your personal accounts are straightforward. You each have your own current account, you each meet the eligibility requirements, you each get a bonus. If you've both been with your bank for six years, you both qualify for a switch bonus. If one of you is new to banking, that person still qualifies individually.
Your joint account is something you open together. Both of you are on it. Both of you can pay money in, both of you can use it. And if the bank offers a joint account bonus, you typically get one bonus for opening it—not one per person. So you don't get £150 each; you get £150 total to share between you.
The real question is: does it make sense to open a joint account just for the bonus?
Honestly? For some couples, yes. If you're earning £150 for something you were going to do anyway (combine finances, create a "household" pot, simplify payments), that's a free £150. For others, no—if you're only doing it for the bonus and you'd rather keep finances separate, the 10 minutes it takes to switch isn't worth the admin of closing another account later.
Our advice: if you've been thinking about a joint account, November is the month to do it and capture the bonus. If you haven't, don't open one solely for £100–£150. The time you spend managing it probably isn't worth the payoff.
Your November switching strategy: The mechanics
Step 1: Check eligibility. Use our eligibility checker to confirm you both meet the switching criteria. Most banks require you to have held an account for at least 3 months. Some have other restrictions—foreign residency, student status, age requirements. Confirm now so you don't get three weeks in and discover you don't qualify.
Step 2: Pick your targets and stagger slightly. Don't both initiate a switch on the same day from the same household. It looks suspicious to the bank's fraud systems. Stagger by 2–4 days. Sarah goes first, Mike goes a couple of days later. You're signalling that these are independent decisions from independent people who happen to live together.
Step 3: Set up the direct debit guides. Most bonuses require a qualifying direct debit (usually at least one per month). Set these up as soon as your new accounts are opened. Don't wait until day 13 of the cooling-off period. Get them live on day 1 if you can. This removes any risk of missing the deadline.
Step 4: Decide on the joint account separately. If you're opening a joint account, treat it as a separate decision that happens after your individual switches are confirmed. You can initiate it on day 5 or 6, completely independently of your personal account switches. This makes it clear to the bank that it's a different product serving a different purpose.
Step 5: Track your cooling-off periods. Write down when each cooling-off period ends. This is critical. You need to know:
- When Sarah's cooling-off ends (and her bonus should arrive)
- When Mike's cooling-off ends (and his bonus should arrive)
- When the joint account cooling-off ends (and that bonus should arrive)
If you miss the deadline, most banks will honour the bonus anyway—but don't rely on it. Mark your calendar. Set a phone reminder. This is money you're earning; treat it like you'd treat a tax refund.
The practical reality in November 2024
Right now, banks are offering bonuses in the £100–£200 range. We're past the era of £300 bonuses. But that's still real money, and as a couple, you're doubling your earning potential.
The landscape has also changed slightly since last year. Some banks have tightened eligibility. Others have introduced caps on how many bonus payouts you can receive in a calendar year if you switch repeatedly. None of this stops a couple from doing two personal + one joint switch in November—that's well within normal parameters—but it's worth checking the specific T&Cs of each bank before you commit.
One more thing: some banks specifically exclude joint accounts from their switch bonuses. Always confirm this before you initiate. There's nothing worse than assuming a joint bonus exists and discovering mid-switch that it doesn't.
Avoiding the common pitfalls
Don't forget about the existing balance requirement. Many switch bonuses have a minimum balance you need to maintain. If the bonus requires £1,000 to be in the account for 30 days, make sure you actually maintain that balance. Dip below it and you lose the bonus.
Don't mix up individual eligibility. If Mike has been with his current bank for only 2 months, he doesn't qualify for a switch. It doesn't matter that Sarah does. Each person's eligibility is individual and non-transferable. Check both of you separately.
Don't underestimate the admin. You're doing three switches here (potentially). That's three sets of paperwork, three cooling-off periods to track, three sets of direct debits to manage. It's manageable, but it's not "five minutes and done." Budget a couple of hours across the month.
Don't lose track of the second switching wave. Once these November switches are complete, you can't switch again until December next year (most banks have a 12-month switching rule). Don't accidentally close the right account or move money around in a way that creates confusion about where you banked.
Common questions
Can I switch even if I've got a mortgage with the same bank? Usually yes, but check the specific bank's T&Cs. Mortgages and current accounts are typically separate products, so switching your current account doesn't affect your mortgage. Some banks do have rules about this though, so verify before switching.
What if we're not married or in a civil partnership—can we still open a joint account? Yes. Joint accounts don't require you to be married. Any two adults can open one together.
Do we each get a bonus for a joint account, or just one between us? One between you. A joint account is a single product. You're not two people opening it; you're two people jointly opening one account. You share the single bonus.
How long does it take for bonuses to arrive? Typically within 5 working days of your cooling-off period ending, but some banks take up to two weeks. Don't count on it arriving on day 1. Assume it'll arrive by the end of the first week of December if you switch mid-November.
Can I switch to the same bank I switched to last year? No. Banks have rules preventing you from switching to them if you've already opened an account with them recently. You'll usually need to wait 12 months from the date you opened your last account with them. That's why using our switching guide to plan your moves is so important—you need to know where you've already been.
November is your window. The money is available, the timing works, and as a couple you're positioned to earn real money before the year closes. Get moving now, and you could have joint bonus payments cleared by early December.
Check your eligibility today, compare what's available on our offers page, and plan your three-switch strategy. This is the month to make it happen.