Get ready for your first switch
A spare account is a basic current account you’ll use as the starting point for your first bank switch.
This guide covers the full setup. For background on why you need a spare account and how bank switching works, read our bank switching explainer.
Step by Step Guide
Your spare account must be part of CASS, the Current Account Switch Service. Almost every major UK bank is in it, though Zopa is not. Check which banks are eligible on the CASS website.
Already have a spare account?
You might already have a spare unused current account. If so, use it and move on to step 2 below.
Need to open a new account?
We recommend the two banks below because they do not run cash switching offers. So you won't miss out on any switching offers by signing up now.
They also only run soft credit checks when you sign up, so there is no impact on your credit score, plus they both have a Quick Win sign-up offer available.
- 1
Download the Chase app and set up an account if you don't already have one. There's a sign-up offer in Quick Wins too.
The Chase sign-up offer needs a £1,000 deposit. If you would rather not, do the Starling offer instead, see below.
2Set up a second current account by pressing the Add button to the right of 'Current accounts' on the Chase app home screen.
This is the one you switch away from. Your main Chase current account stays untouched.
- 1
Sign up to Starling if you don't already have a Starling account. Download the app and set up an account. There's a sign-up offer in Quick Wins too.
If neither of the above are suitable, we would recommend Metro Bank. They are part of CASS. They will run a hard credit check, so you may see a small dip in your credit score.
- 1
Sign up to Metro Bank if you don't already have a Metro Bank current account. You can apply online or in store.
You need three active Direct Debits on your spare account before you switch, in order to qualify for the switch offer. That covers Lloyds, which needs three, and the offers that need two. NatWest does not need any.
Active means the Direct Debit has actually taken its first payment. A new Direct Debit that has not taken its first payment does not count, so set these up as early as you can.
You have four options for ways to set up a Direct Debit. The Quidsy Direct Debit is the fastest and easiest.
Option 1: Set up a Quidsy Direct Debit (fastest)
- Set up:1 min eachActive:6 working days
Set up 3 x £1/month Direct Debits with Quidsy. The Quidsy Direct Debit takes only 6 working days for payment to be taken. This is the fastest possible method.
Quidsy is free to use and relies on your support. In turn we help you build up your profit.
Simply repeat setting up a £1 Direct Debit based on how many you need.
If you set it up today, the payment will be taken on Tuesday 3rd November.
Option 2: Move existing Direct Debits
- Set up:15 minsActive:up to 30 days
Transfer three Direct Debits from your main current account. Log into each Direct Debit provider (e.g. mobile phone, energy) and update the bank details to your spare account’s sort code and account number.
Please note the Santander offer does require household Direct Debits, so when you get to this offer in the future you’ll want to use this option (reminder - you’ll be switching from the previous offer you’ve just completed to Santander, not this spare account).
Option 3: Set up new charity Direct Debits
- Set up:10 minsActive:up to 30 days
Set up 3 x £2/month Direct Debits with your favourite charities. For example, Crisis, British Red Cross, British Heart Foundation. They usually only collect on the 1st or 15th, so pick the earliest date they offer.
Option 4: Savings apps
- Set up:10 minsActive:varies
Savings apps Plum and Moneybox allow you to set up a direct debit with them. So you could set up a direct debit for £5/month (or similar).
You need to add enough money for:
1) The first Direct Debit that is taken from your spare account.
2) The Direct Debit(s) taken every 30 days after you switch but before you get the switch bonus. This may be up to 3 more Direct Debit payments depending on the period of time to receive the bonus (e.g. Nationwide only needs 1 more Direct Debit at most, whereas First Direct needs 2).
How much money to add?
For ease, where the Direct Debit is small (e.g. £1 for Quidsy or £2 for charities) you could add this total amount upfront to save you having to remember to do it after you switch. Based on this, below are my suggested amounts to add.
Option 1: Quidsy Direct Debits - Add £12. That is your first payment plus three months at 3 x £1.
Option 2: Existing Direct Debits - Given these could be large amounts, add enough to cover the first Direct Debit then do this manually each month before your next Direct Debit.
Option 3: Charity Direct Debits - Add £24. That is your first payment plus three months at 3 x £2.
Option 4: Savings apps - Add £60 if you set them up at £5 each, your first payment plus three months. This one is not really a cost, the money lands in your Plum or Moneybox pot.
Once your first Direct Debit payment has been taken, you’re all set up - awesome! Head to the bank switch offer and start your switch. Enjoy the profit.