May's bank holidays are the perfect window for earning money from bank switching. Two long weekends mean you've got breathing room to move accounts without the usual weekday complications—and right now, the switch offers are genuinely worth your time.
If you've been thinking about switching banks but worrying about disruption, a bank holiday is your answer. Most banks process switches over weekends anyway, so the timing works in your favour. And if you're not just switching one account, the extended weekends give you space to run multiple switches in parallel.
Let me walk you through exactly what to do and how much you can earn this May.
Why May Bank Holidays Are Your Switch Window
Bank holidays sound like a liability—banks closing, slower processing—but they're actually ideal for switching. Here's why:
You've got natural breathing room. When Nationwide finishes your switch on a Friday evening, you don't panic about accessing your current account over the weekend. It's meant to be closed on Saturday and Sunday. The same applies to any incoming funds; they slot into your new account's existing weekend without looking unusual.
Disruption is built in. If you're switching from Barclays to Nationwide and you know you won't need your current account for 48 hours anyway, you're not accidentally trying to pay someone using a frozen account. The bank holidays do the thinking for you.
Processing times align perfectly. The Current Account Switch Service (CHCPS) typically takes 7 working days. If you initiate a switch on a Monday before the bank holiday, processing spans: Tuesday, Wednesday, Thursday, Friday, then skips the weekend, then picks up the following Monday and Tuesday. You're done by end of that week, and the bank holidays haven't slowed anything down.
More importantly, right now there are legitimate six-figure pound offers on the table. We're talking TSB and Nationwide at £1,500 each if you switch via the British Cash Back service. Virgin Money is at £1,000. Even the smaller offers—RBS and NatWest at £175 each, HSBC at £150—are genuine money for very little effort.
The Offers Available Right Now (May 2020)
The headline offers for bank switching this May:
- TSB: £1,500 switch bonus (via BCWYC eligibility)
- Nationwide: £1,500 switch bonus (via BCWYC eligibility)
- Virgin Money: £1,000 switch bonus (via BCWYC eligibility)
- RBS: £175 switch bonus
- NatWest: £175 switch bonus
- HSBC: £150 switch bonus
- Halifax: £125 switch bonus
- Lloyds: £125 switch bonus
- First Direct: £100 switch bonus
These aren't theoretical. These are live offers available right now if you meet the eligibility criteria (which usually means switching via the CHCPS and paying in at least one direct debit guide, typically from your salary).
Not everyone qualifies for the £1,500 offers—you need to switch from a qualifying bank and meet British Cash Back eligibility—but the point is: this month has genuine earning potential, and the bank holidays give you space to execute properly.
Check our live offers page for current terms and eligibility on each bank.
The Bank Holiday Switching Strategy
Here's how to make May's bank holidays work for you:
Timing your switches. The two May bank holidays in 2020 are May 8 (Early May bank holiday) and May 25 (Spring bank holiday). The sweet spot is this:
If you initiate a switch on Thursday 7 May, the CHCPS starts processing on Friday 8 May. But wait—Friday 8 May is a bank holiday. Processing continues Tuesday 12 May onwards. You're complete by Wednesday 20 May.
If you then initiate a second switch on Friday 22 May, processing starts Monday 25 May. But that's a bank holiday, so processing resumes Tuesday 26 May. You're complete by Wednesday 3 June.
This is how you run consecutive switches. Most guides tell you to leave 30 days between switching banks. That's the right number—30 calendar days minimum—but people often space them to avoid bank holidays, which adds unnecessary delays. Bank holidays actually compress your timeline because everyone assumes they'll extend it.
If you want to do two switches and get both money in the same calendar month, May gives you the schedule to do it.
Parallel switches. You can switch from Bank A to Bank B, but you can't switch from Bank B to Bank C within 30 days. However, you can hold multiple accounts at Bank C simultaneously. So if Bank B has a limited-time bonus, you can switch into it from Bank A, lock in the bonus, and then plan your next move once you own Bank B.
The bank holidays give you the room to think about what comes next without feeling rushed.
Maximising Earnings This May
The arithmetic is simple: if you switch to both TSB and Nationwide (assuming you qualify for both), that's £3,000 in bonuses. But there are three things worth thinking about:
One: The direct debit requirement. Most switch bonuses require you to set up at least one direct debit on your new account. This doesn't have to be a large one. A gym membership (even £1/month through free trial nonsense) or a charity donation counts. It's not a trap; it's how the banks verify you're genuinely switching, not just grabbing the money.
Budget 5 minutes to set this up.
Two: Tax on the bonuses. Bank switching bonuses are not taxable income. HMRC treats them as a discount on your banking, not interest or earnings. You don't declare them, you don't owe tax, they don't appear on a P60. This is different from interest on savings accounts, which does count toward your Personal Savings Allowance.
If you've got £1,000 earning 4% in a regular savers, that's £40 of taxable interest. If you've got a £1,000 switch bonus, that's £0 of taxable interest. The switch bonus wins.
Three: Stacking other earnings. If you've just switched to Bank B, you might also be eligible for a regular saver account from a different bank, earning 5% or 6% on new deposits. You can't use the same bank twice, but you can do a switch and a saver in the same month from different banks.
May's bank holidays give you the calendar flexibility to do this properly.
The Practical Checklist for May
Here's exactly what to do:
-
Identify which offers you qualify for. Not everyone qualifies for the £1,500 offers. Check our eligibility checker to see which bonuses are within reach.
-
Choose your first switch. Pick the highest-value offer you qualify for. Complete the switching form with your new bank. This takes 10 minutes.
-
Set up one direct debit. Once you get your new account details, set up a single direct debit. It can be tiny—a charity at £1/month—but it needs to exist.
-
Wait for completion. The CHCPS handles the rest. You'll get your account moved over within 7 working days. Bonus lands in your account shortly after.
-
Plan your second switch. Once you own your first new account (don't wait until the bonus lands), you can initiate your second switch from a different bank to a different new bank. The 30-day countdown starts when you switch from a bank, not when you switch to it, so this is the critical timeline.
-
Rinse and repeat. Depending on how many qualifying offers you can access, you might do 2, 3, or even 4 switches across May and June. The bank holidays compress the timeline and reduce disruption.
The whole sequence sounds complex, but it's genuinely straightforward once you've done it once. Our switching guide walks through the exact steps.
What About Stoozing at the Same Time?
One question we get: "Can I stooze and switch in the same month?"
Yes. Stoozing is moving money onto a 0% credit card and parking it in a savings account earning interest. Bank switching is moving your current account and getting a bonus. They're separate activities and don't interfere.
If you're earning £1,500 from a switch and £50 from a 0% card earning interest for 6 months, that's £1,550 total. The May bank holidays give you the space to organise both without chaos.
We've got a complete guide to how stoozing works if you want the detail.
Common Questions
What if the bank holiday messes up my switch?
It won't. The Current Account Switch Service is designed to handle bank holidays. Processing pauses and resumes naturally. Your 7-day timeline is measured in working days, so weekends and bank holidays don't count against you. You're not at a disadvantage; you're actually in an ideal window.
Do I have to keep the account open after I switch?
Not for the bonus. The eligibility rules require the direct debit to be set up and the switch to be completed, but once your bonus lands, you can close the account. Most people keep it open for a few months to avoid suspicion, but that's overly cautious. You've fulfilled the T&Cs. You can close it.
What if I've already switched once this year?
You can switch as many times as you like, as long as you're switching from a different bank each time and to a different bank each time. You can't switch from Barclays twice in one month, but you can switch from Barclays to Nationwide and then from HSBC to Virgin Money. Each switch has its own 30-day window.
Do the bonuses affect my credit score?
No. Switch bonuses are not credit events. Your credit score isn't affected by receiving money; it's affected by credit applications, missed payments, and debt. Opening a new current account involves a credit check, but it's a soft check (no impact on your score). Receiving the bonus is invisible to credit bureaus.
Can I switch a joint account?
Yes, but both account holders need to agree and both need to qualify for the bonus. The bonus usually lands in the joint account itself, so it counts toward your earnings calculator.
Wrapping Up
May's bank holidays are a gift for anyone serious about earning from banking. The combination of genuine six-figure offers and natural calendar gaps means you can execute multiple switches without disruption or panic.
The work here is genuinely simple: fill out a form, set up a direct debit, and wait. The bank does the rest. The bonuses are real money—£1,000 to £1,500 per switch for the top offers—and they're available right now.
If you've been thinking about switching but putting it off, May is the month. The holidays give you the space to do it properly.
Check our live offers page for current availability and eligibility, and let us know if you've got questions about your specific situation.
title: "May Bank Holiday Money Moves — Quick Switches to Boost Earnings" description: "Use May's bank holidays to your advantage. Strategic bank switching around UK bank holidays can earn you £1,500+ with minimal disruption." date: "2020-05-31" author: "StoozeMax" tags: ["bank switching", "savings", "guides"]
May's bank holidays are the perfect window for earning money from bank switching. Two long weekends mean you've got breathing room to move accounts without the usual weekday complications—and right now, the switch offers are genuinely worth your time.
If you've been thinking about switching banks but worrying about disruption, a bank holiday is your answer. Most banks process switches over weekends anyway, so the timing works in your favour. And if you're not just switching one account, the extended weekends give you space to run multiple switches in parallel.
Let me walk you through exactly what to do and how much you can earn this May.
Why May Bank Holidays Are Your Switch Window
Bank holidays sound like a liability—banks closing, slower processing—but they're actually ideal for switching. Here's why:
You've got natural breathing room. When Nationwide finishes your switch on a Friday evening, you don't panic about accessing your current account over the weekend. It's meant to be closed on Saturday and Sunday. The same applies to any incoming funds; they slot into your new account's existing weekend without looking unusual.
Disruption is built in. If you're switching from Barclays to Nationwide and you know you won't need your current account for 48 hours anyway, you're not accidentally trying to pay someone using a frozen account. The bank holidays do the thinking for you.
Processing times align perfectly. The Current Account Switch Service (CHCPS) typically takes 7 working days. If you initiate a switch on a Monday before the bank holiday, processing spans: Tuesday, Wednesday, Thursday, Friday, then skips the weekend, then picks up the following Monday and Tuesday. You're done by end of that week, and the bank holidays haven't slowed anything down.
More importantly, right now there are legitimate six-figure pound offers on the table. We're talking TSB and Nationwide at £1,500 each if you switch via the British Cash Back service. Virgin Money is at £1,000. Even the smaller offers—RBS and NatWest at £175 each, HSBC at £150—are genuine money for very little effort.
The Offers Available Right Now (May 2020)
The headline offers for bank switching this May:
- TSB: £1,500 switch bonus (via BCWYC eligibility)
- Nationwide: £1,500 switch bonus (via BCWYC eligibility)
- Virgin Money: £1,000 switch bonus (via BCWYC eligibility)
- RBS: £175 switch bonus
- NatWest: £175 switch bonus
- HSBC: £150 switch bonus
- Halifax: £125 switch bonus
- Lloyds: £125 switch bonus
- First Direct: £100 switch bonus
These aren't theoretical. These are live offers available right now if you meet the eligibility criteria (which usually means switching via the CHCPS and paying in at least one direct debit, typically from your salary).
Not everyone qualifies for the £1,500 offers—you need to switch from a qualifying bank and meet British Cash Back eligibility—but the point is: this month has genuine earning potential, and the bank holidays give you space to execute properly.
Check our live offers page for current terms and eligibility on each bank.
The Bank Holiday Switching Strategy
Here's how to make May's bank holidays work for you:
Timing your switches. The two May bank holidays in 2020 are May 8 (Early May bank holiday) and May 25 (Spring bank holiday). The sweet spot is this:
If you initiate a switch on Thursday 7 May, the CHCPS starts processing on Friday 8 May. But wait—Friday 8 May is a bank holiday. Processing continues Tuesday 12 May onwards. You're complete by Wednesday 20 May.
If you then initiate a second switch on Friday 22 May, processing starts Monday 25 May. But that's a bank holiday, so processing resumes Tuesday 26 May. You're complete by Wednesday 3 June.
This is how you run consecutive switches. Most guides tell you to leave 30 days between switching banks. That's the right number—30 calendar days minimum—but people often space them to avoid bank holidays, which adds unnecessary delays. Bank holidays actually compress your timeline because everyone assumes they'll extend it.
If you want to do two switches and get both money in the same calendar month, May gives you the schedule to do it.
Parallel switches. You can switch from Bank A to Bank B, but you can't switch from Bank B to Bank C within 30 days. However, you can hold multiple accounts at Bank C simultaneously. So if Bank B has a limited-time bonus, you can switch into it from Bank A, lock in the bonus, and then plan your next move once you own Bank B.
The bank holidays give you the room to think about what comes next without feeling rushed.
Maximising Earnings This May
The arithmetic is simple: if you switch to both TSB and Nationwide (assuming you qualify for both), that's £3,000 in bonuses. But there are three things worth thinking about:
One: The direct debit requirement. Most switch bonuses require you to set up at least one direct debit on your new account. This doesn't have to be a large one. A gym membership (even £1/month through free trial nonsense) or a charity donation counts. It's not a trap; it's how the banks verify you're genuinely switching, not just grabbing the money.
Budget 5 minutes to set this up.
Two: Tax on the bonuses. Bank switching bonuses are not taxable income. HMRC treats them as a discount on your banking, not interest or earnings. You don't declare them, you don't owe tax, they don't appear on a P60. This is different from interest on savings accounts, which does count toward your Personal Savings Allowance.
If you've got £1,000 earning 4% in a regular saver, that's £40 of taxable interest. If you've got a £1,000 switch bonus, that's £0 of taxable interest. The switch bonus wins.
Three: Stacking other earnings. If you've just switched to Bank B, you might also be eligible for a regular saver account from a different bank, earning 5% or 6% on new deposits. You can't use the same bank twice, but you can do a switch and a saver in the same month from different banks.
May's bank holidays give you the calendar flexibility to do this properly.
The Practical Checklist for May
Here's exactly what to do:
-
Identify which offers you qualify for. Not everyone qualifies for the £1,500 offers. Check our eligibility checker to see which bonuses are within reach.
-
Choose your first switch. Pick the highest-value offer you qualify for. Complete the switching form with your new bank. This takes 10 minutes.
-
Set up one direct debit. Once you get your new account details, set up a single direct debit. It can be tiny—a charity at £1/month—but it needs to exist.
-
Wait for completion. The CHCPS handles the rest. You'll get your account moved over within 7 working days. Bonus lands in your account shortly after.
-
Plan your second switch. Once you own your first new account (don't wait until the bonus lands), you can initiate your second switch from a different bank to a different new bank. The 30-day countdown starts when you switch from a bank, not when you switch to it, so this is the critical timeline.
-
Rinse and repeat. Depending on how many qualifying offers you can access, you might do 2, 3, or even 4 switches across May and June. The bank holidays compress the timeline and reduce disruption.
The whole sequence sounds complex, but it's genuinely straightforward once you've done it once. Our switching guide walks through the exact steps.
What About Stoozing at the Same Time?
One question we get: "Can I stooze and switch in the same month?"
Yes. Stoozing is moving money onto a 0% credit card and parking it in a savings account earning interest. Bank switching is moving your current account and getting a bonus. They're separate activities and don't interfere.
If you're earning £1,500 from a switch and £50 from a 0% card earning interest for 6 months, that's £1,550 total. The May bank holidays give you the space to organise both without chaos.
We've got a complete guide to how stoozing works if you want the detail.
Common Questions
What if the bank holiday messes up my switch?
It won't. The Current Account Switch Service is designed to handle bank holidays. Processing pauses and resumes naturally. Your 7-day timeline is measured in working days, so weekends and bank holidays don't count against you. You're not at a disadvantage; you're actually in an ideal window.
Do I have to keep the account open after I switch?
Not for the bonus. The eligibility rules require the direct debit to be set up and the switch to be completed, but once your bonus lands, you can close the account. Most people keep it open for a few months to avoid suspicion, but that's overly cautious. You've fulfilled the T&Cs. You can close it.
What if I've already switched once this year?
You can switch as many times as you like, as long as you're switching from a different bank each time and to a different bank each time. You can't switch from Barclays twice in one month, but you can switch from Barclays to Nationwide and then from HSBC to Virgin Money. Each switch has its own 30-day window.
Do the bonuses affect my credit score?
No. Switch bonuses are not credit events. Your credit score isn't affected by receiving money; it's affected by credit applications, missed payments, and debt. Opening a new current account involves a credit check, but it's a soft check (no impact on your score). Receiving the bonus is invisible to credit bureaus.
Can I switch a joint account?
Yes, but both account holders need to agree and both need to qualify for the bonus. The bonus usually lands in the joint account itself, so it counts toward your combined earnings.
Wrapping Up
May's bank holidays are a gift for anyone serious about earning from banking. The combination of genuine six-figure offers and natural calendar gaps means you can execute multiple switches without disruption or panic.
The work here is genuinely simple: fill out a form, set up a direct debit, and wait. The bank does the rest. The bonuses are real money—£1,000 to £1,500 per switch for the top offers—and they're available right now.
If you've been thinking about switching but putting it off, May is the month. The holidays give you the space to do it properly.
Check our live offers page for current availability and eligibility, and let us know if you've got questions about your specific situation.