Bank switching deal worth up to £200 ending within HOURS – how to grab the bonus before it’s gone

CUSTOMERS of a major bank can get an extra £100 if they switch to a new account on top of an existing £200 deal – but they only have days left to claim it. The Co-Op bank is currently offering up to £200 to new customers for moving an account across. This is made up of an initial £125 switching bonus, plus £25 a month for three months if they continue to meet certain conditions. But some existing customers can boost the switching offer to £300 by claiming an extra £100 ‘loyalty’ payment. Sign up for the Money newsletter Thank you! To qualify, eligible customers who already have a Co-Op current account need to request a switch from another bank by August 17. Those who do not already have an eligible Co-Op current account must apply for one by August 17, then request the switch within two weeks of opening it. Customers must also have held an eligible account with The Co-operative Bank, smile, Coventry Building Society, Godiva Mortgages or ITL Mortgages on June 21, 2026. They will still need to qualify for the initial £125 switching payment and keep an eligible Co-Op account open until November, when the extra £100 is due to be paid. The broader £200 switching offer does not currently have a fixed closing date, meaning the August 17 deadline only applies to the extra £100 loyalty bonus. The Co-Op is just one of a number of high street banks attempting to attract new customers by offering free cash to switch. Most read in Money You can swap to a new bank easily via the Current Account Switch Service, which automatically moves you over and closes your old account. Barclays and NatWest are currently offering customers up to £200 to switch, while First Direct, owned by HSBC, is offering £175 to move to its current account. Most banks have conditions you need to meet to qualify, such as setting up direct debits or depositing a certain amount, so make sure you can meet the criteria before switching to claim the bonus. The number of people taking advantage of these deals has hugely increased over the past few years as banks fight to attract new customers. Data from the Current Account Switching Service (CASS) shows switches between January and June this year were up 38.5% on the same period last year. Comment now