High street banks are willing to offer hundreds of pounds in perks to encourage people to move their current account - now the Co-operative has launched what it says is its best-ever switching offer11:44, 06 Jul 2026Updated 11:47, 06 Jul 2026Banks and building societies know how hard it is to prise people away from their existing current account provider - it’s why they offer free cash to try and do so.‌Many of us loyally stick with the same provider we’ve been with for decades, often for little more than peace of mind. Yet the surety is knowing who our money is with counts for an awful lot.‌The Co-operative Bank this week upped the ante by launching what it said was its best ever switching offer, worth up to £300. New customers can get up to £200 by switching to its standard current account or Everyday Extra packaged account.‌There are strings attached. To get the first £125 customers must, among other things, deposit at least £1,500, have two active direct debits, and make five debit card transactions within 30 days of the switch completing.After that, they could bag up to £75 more for depositing a further £1,500, making another five debit card transactions, and keeping two direct debits going for another three months.‌And customers who already have another Co-operative Bank account - for instance a mortgage or saving account - could get a further loyalty bonus of £100 for switching their current account too. That also applies to those with the Coventry Building Society, which bought the Co-operative Bank at the start of 2025.Both the regular and the Everyday Extra accounts have the option to take out a savings account offering up to a very healthy 7% interest - customers can open with as little as £1 and save up to £250 each month.The Everyday Extra account, like those from rivals, comes with perks in exchange for charging a monthly fee. In the Co-operative’s case, it is £12 a month - having been reduced from £18 - and includes things like travel and mobile phone insurance, and European car breakdown cover.‌Rachel Springall, finance expert at Moneyfacts, said: “With household budgets under pressure, it can be difficult for customers to decide where to spend their money, so having current account options that are good value and free from unnecessary fees really matters. The Everyday Extra account is now a more affordable choice, with its monthly fee slashed to £12.“Packaged accounts can be a great cost-saver for holidaymakers travelling in the UK or worldwide, combining useful benefits with added peace of mind. Removing foreign transaction fees on debit card spending also makes both the current account and Everyday Extra more straightforward to use abroad – with no nasty surprises to come home to.”‌The Co-operative is far from alone in offering perks to try to temp people to ditch their existing current account provider.NatWest, for example, is offering £200 for those who switch to its fee-free Select or £2 a month Reward accounts using the Current Account Switch Service. To get the cash, customers must pay in £1,250 and log in to the mobile app within 60 days of switching.Barclays is also offering a £200 thank you for new customers who switch by August 27, set-up at least two direct debits, and pay in at least £2,000 within 30 days of opening it.Article continues belowSantander, Nationwide building society, along with HSBC and sister bank First Direct, are among others running similar bonuses that are worth considering.