How do I know if I'm eligible for a bank switch bonus?

Most banks require that you haven't held an account with them (or their banking group) within the last 12-36 months. For example, Lloyds, Halifax, and Bank of Scotland are all in the same group — having any of these banks recently makes you ineligible for the others.

What are banking groups and why do they matter?

Banking groups are collections of bank brands owned by the same parent company. For example, HSBC and First Direct are in the same group, and NatWest and RBS are in the same group. If you've been a customer of one brand, you're usually ineligible for switch bonuses from other brands in the same group.

How long do I have to wait between bank switches?

Cooling-off periods vary by bank, typically 12-36 months. Some banks like TSB check from a specific date, while others check rolling months. After the cooling-off period, you become eligible to switch back and claim the bonus again.

Bank Switch Eligibility Checker UK

Understanding banking groups

UK banks are organised into groups that share eligibility restrictions. If you've had a current account with any bank in a group, you're typically ineligible for switch bonuses from all other banks in that same group.

Lloyds Banking Group

Lloyds, Halifax, Bank of Scotland, Scottish Widows

HSBC Group

HSBC, First Direct

NatWest Group

NatWest, Royal Bank of Scotland, Ulster Bank

Virgin Money Group

Virgin Money, Clydesdale Bank, Yorkshire Bank

Tips for maximising switch bonuses

Work through different banking groups — switch to one bank from each group before revisiting
Track your cooling-off periods — set reminders for when you become eligible again
Use a donor account — keep your main bank and switch a secondary account (Starling or Monzo work well)
Stack with cashback — check TopCashback and Quidco for extra £20-25 per switch

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