The Best Bank Welcome Offers

I have written before about banks, and how integral they are too our lives. And also about how attached we seem to be to our own bank, rarely changing like we would any other contract if a better offer came along. With that in mind, we’ve taken a look at some of the best bank welcome offers. It might be well worth your while switching.

Royal Bank of Scotland

RBOS as they are also known have a variety of account types that all have offers similar to the following. Namely that you can get a £150 reward if opening an account by 29th November 2019. To do so you must pay in at least £1500 and log in to Digital or Mobile banking by 10th January 2020. The bank will then pay you £150 by 7th February 2020. 

In addition to the welcome offer, they have no monthly fees, and the usual extra facilities such as online banking, agreed overdrafts etc

Their reward account is £2 a month, but you can earn 2% in Rewards on 7 types of household bills paid by Direct Debit. On average such customers earn £83 a year in Rewards (not incl. monthly fee) based on monthly bills of £345

M & S

Yes, you can get bank accounts from shops nowadays! Not surprisingly, rewards for joining M & S relate to their retail outlets. They offer a £180 gift card for new members. Existing credit card members can claim £220 in gift cards. There is access to overdrafts, rewards for spends on your card and preferential rates on selected bank products of theirs.Again, there is no monthly fee.

First Direct

The company that claims to have the most satisfied customers. They offer an interest-free overdraft, plus the following perks:

  • 24/7, 365 banking by OnlinePhone and on Mobile
  • award winning customer service from real people here in the UK – no machines, no overseas call centres
  • pay in cash and cheques at HSBC branches and the Post Office®
  • Get a £50 welcome when you switch to us**
  • and another £100*** if you decide we’re not for you.


Their Everyday Current Account comes with a number of rewards to entice in new customers. There is no monthly fee, nor a minimum monthly funding. Overdraft facilities are once more available, quick account-switching, and cashback offers with certain retailers. Retailers include Costa, Morrisons. JD Sports and Subway.


Open a Barclays account, sign up to its Blue Rewards scheme and commence a switch by 30 Nov 2019 to get £10/mth in the first year. In year two, you get £3 a month.  

Get £204 in year one with the Barclays Premier account

You can get £17/mth back for a year, if you switch to the Barclays Premier account,  though to be eligible you need at least £100,000 saved or invested with Barclays, or an annual income of £75,000+ paid into the account. So that’s not one for most of us.