It's a question that comes up on the MSE forums every few months. Someone posts a variation of: "I've switched to every bank that's offering a bonus. My cooling-off periods are all running. Now what?"
Good problem to have. It means you've probably earned £500-1,000+ from switches already. But the machine doesn't have to stop — switching is just one of several strategies that work the same way. Here's what experienced bank-switchers do during the downtime.
1. Start stoozing (if you haven't already)
This is the obvious next move and the one most switchers graduate to. Use a 0% purchase credit card for everyday spending, save the cash in a high-interest account, pay off the card before the 0% ends.
At £500/month spending, a 24-month 0% card earns roughly £375 in interest — plug in your own numbers with our stoozing calculator to see your projected profit. No switching required, no cooling-off periods, and it runs quietly in the background while you wait.
We wrote a full stoozing guide with worked examples and best cards.
2. Max out every regular saver you have access to
If you've switched to First Direct, Nationwide, or other banks with regular savers, you already have access to 6.5-7% interest. The question is whether you're using it.
Open every regular saver you're eligible for and set up standing orders on payday. Stack multiple savers across different banks for maximum deployment. Compare the best regular saver accounts to see which ones offer the highest effective rates right now.
Our regular saver guide covers the effective rate maths and which accounts to prioritise.
3. Use referral bonuses
Many banks pay you for referring friends and family. If you've already switched, you're the perfect person to recommend the process to others.
Active referral programmes (check current availability):
- Chase — has historically offered £10-20 per referral
- Monzo — occasionally offers £5-50 per referral (varies, and you may need account longevity)
- Nationwide — has offered £100 extra for referring 3 friends
- Zopa — £10 opening bonus via referral
The trick: you don't need to hard-sell anyone. Just mention your switch earnings to friends and family — "I've earned £800 from switching banks this year" — and they'll ask how. Share your referral link when they do.
4. Cashback current accounts
Some of the accounts you've switched to offer ongoing cashback. Don't let it go to waste.
- Santander Edge — up to 1% cashback on bills paid by DD, plus 1% on debit card spending. Can earn £30-50/year passively.
- Chase — 1% cashback on debit card spending for 12 months (new accounts). If you've still got an active Chase account, use it for everything.
- NatWest Reward — monthly rewards on selected retailers.
Stack with stoozing: Use the cashback debit card for purchases that don't accept credit cards, and the 0% credit card for everything else. You're earning cashback on one stream and interest on the other.
5. TopCashback / Quidco for bill switching
This is an often-overlooked goldmine. Every time you switch energy, broadband, insurance, or mobile provider, do it through TopCashback or Quidco.
- Car insurance switch: £20-60 cashback
- Energy switch: £20-40 cashback
- Broadband switch: £20-50 cashback
- Mobile contract: £20-40 cashback
One MSE poster earned £2,500 over 12 years just from cashback on routine bill switches. That's about £200/year for switching bills you'd switch anyway.
The play: Set a calendar reminder each year when your insurance, energy, and broadband contracts renew. Switch through a cashback site every time. It's 10 minutes of work for £50-100 per switch.
6. Savings account rate-chasing
Easy-access savings rates change constantly. If you're not checking every few months, you're probably earning less than you could be.
The strategy: Keep your emergency fund and stoozing pot in the highest-paying easy-access account. When a better rate appears, move the money. There's no loyalty penalty for savings accounts — just move to wherever pays the most.
Check comparison sites monthly: MSE, Moneyfacts, or Savings Champion.
7. Cash ISA optimisation
If you're a higher-rate taxpayer or you've breached your Personal Savings Allowance, stashing money in a cash ISA becomes worthwhile. The interest is completely tax-free.
Current ISA rates are competitive with regular savings accounts, and you can deposit up to £20,000/year.
If you're stoozing or running multiple savings accounts and earning more than £500 in interest (higher-rate) or £1,000 (basic-rate), an ISA should be your next port of call.
8. SIPP/pension switches
This one's bigger money but less frequent. Some pension providers offer cashback or bonuses for transferring your pension to them.
Forum users have reported receiving £1,000-1,500 in cashback for switching SIPP providers. The amounts depend on your pension pot size, and the process takes longer than a bank switch, but the payouts can be significant.
Warning: Pension transfers are more complex than bank switches. Make sure you're not losing valuable benefits (guaranteed annuity rates, employer contributions) by moving. This is one where it's worth doing proper research or taking advice.
9. Matched betting (for the disciplined)
This is a different beast entirely, but many bank switchers graduate to matched betting because the mindset is similar — exploit promotional offers for guaranteed profit.
Bookmakers offer "free bets" to new customers. Matched betting uses back/lay techniques to extract guaranteed profit from these offers regardless of the sporting outcome.
- Typical earnings: £500-1,000 in the first few months from sign-up offers
- Ongoing: £50-200/month from reload offers and ongoing promotions
- Requires: Mathematical precision, spreadsheet tracking, and discipline
Not for everyone, but the forum overlap between serial switchers and matched bettors is huge. If you're the type who tracks cooling-off periods in a spreadsheet, you have the right personality for matched betting.
10. Utility warehouse / energy referrals
Similar to bank referrals, some utility providers pay for customer referrals. Utility Warehouse and Octopus Energy have had referral programmes that pay £50-100 per referral.
The overlap with bank switching is that you probably already know people who'd benefit from switching energy or broadband providers.
11. Wait (and track your cooling-off periods)
This isn't sexy, but it's practical. Your cooling-off periods are ticking. In 12-36 months, banks you've already switched to will become eligible again.
The key is knowing exactly when each bank reopens. Check your eligibility to see which banks you can switch to right now. If you don't track it, you'll either:
- Miss the window (and lose a potential £175 bonus), or
- Apply too early, get rejected, and waste a credit check
This is what StoozeMax does automatically — tracks every switch, counts down every cooling-off period, and alerts you the moment a bank becomes eligible again.
12. Get your partner/household involved
If you live with a partner, they can do all the same switches independently. That doubles your earnings immediately.
One MSE couple earned £5,300 between them over seven years. Another managed £710 in just three months by both switching simultaneously.
Joint accounts can also be switched through CASS, opening up yet another set of bonuses.
The waiting game isn't really waiting
The beauty of stacking these strategies is that there's always something earning money in the background:
| Strategy | Timeframe | Annual earnings |
|---|---|---|
| Bank switches (when available) | 7 days per switch | £500-800 |
| Stoozing | Ongoing (12-24 month cycles) | £150-400 |
| Regular savers | 12-month cycles | £100-350 |
| Cashback accounts | Ongoing | £30-50 |
| Bill switching via cashback sites | Annual | £100-200 |
| Referral bonuses | Ad hoc | £50-200 |
| Combined | £930-2,000 |
The "I've done all the switches" feeling is temporary. In reality, you've just opened up the next level of the game.
Create a free StoozeMax account to track everything in one place — switches, cooling-off countdowns, regular saver maturity dates, and 0% card expiry reminders.
Read our complete guides: Bank Switching: The Complete UK Guide | Stoozing Guide | Regular Savers Guide