The newest information that will help you get essentially the most out of your checking account.
Right here’s my month-to-month replace sharing adjustments for main UK present accounts, in addition to among the related articles you may need missed on the weblog.
August’s checking account replace video
For a extra detailed replace, watch this video from our YouTube channel.
August’s present account affords
Newest financial institution switching offers
There are actually seven offers from main banks, although you may’t go for many these when you’ve had the money earlier than. Click on every hyperlink for more information on every one.
The latest provide is a uncommon one from Barclays, offering £175. You’ll have to pay for Blue Rewards at £5 a month, so technically you’ll make £165 revenue when you axe the account as soon as the switching money is in your account, although you’ll additionally get free Apple TV+ whereas it’s energetic.
TSB’s bank switch offer has returned, and might be value as much as £340, although it’s additionally extra sophisticated with rather a lot to do and a very long time required to maintain the account.
Some current Chase customers will even have been provided the financial institution’s first ever switching deal – a £50 Amazon voucher.
Elsewhere, First Direct’s switching offer continues to be going for £175. Don’t neglect you may entry a 7% regular saver with this financial institution.
Plus you may choose from both NatWest or RBS and get £125 for switching and one other £50 for opening a Digital Common Saver.
And sadly you’ve missed out on switching offers for Nationwide, Santander, Lloyds and Danske, with affords all ending within the final month.
Newest Premier financial institution swap offers
HSBS’s Premier Bank switch offer has returned, as soon as once more providing a £500 Selfridges voucher for these eligible for the account. Nonetheless, it’s essential to meet excessive wage or saving necessities to open the account.
In the meantime you may nonetheless get the Barclays Premier Rewards switch offer, which is able to earn you 25,000 Avios.
Buying and selling 212 affords as much as 1.5% cashback
The elevated cashback charge on Trading 212’s debit card has been prolonged till early September for spending at residence and overseas. You possibly can enhance it additional to 1.5% when you select to auto-invest your cashback. That is till 5 September. Bear in mind with investing, your steadiness can go up or down.
Hopefully the provide will probably be prolonged once more. When you don’t have an Buying and selling 212 account but, there’s a welcome offer of a free share worth between £8 and £100 through our hyperlink.
iFast affords 2% cashback on abroad spending
We’ve not seemed intimately on the iFast account, although it did win finest newcomer on the British Financial institution Awards this yr.
From what we’ve got seen it’s not going to interchange your foremost present account anytime quickly, because it’s extra equipped for many who desire a multi-currency account and the power to switch money internationally. It additionally has spending insights to trace the place your cash goes.
However this quick time period elevated cashback provide might be time to attempt it. You will get 2% again in your spending overseas from 1 August to 31 October 2025. It’s capped at £25 cashback a month, in order that’s on the primary £1,250 you spend. Sadly you gained’t earn on UK spending.
There’s additionally 3.2% curiosity on balances, so that you’ll earn in your vacation money earlier than you spend it too.
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Plus an unique £20 welcome bonus for brand spanking new Quidco members (Phrases apply)
August’s present account information
First Direct launches ‘Perks’
Final month Zoe within the group obtained an e mail from First Direct promising an current new ‘Perks’ scheme. On the time the First Direct press workplace mentioned they couldn’t share any particulars but, however I noticed this week that it’s now dwell within the app.
So what do you get? Cashback? Freebies? Entry to occasions? Competitions? Sadly no. It’s just a few affords. After all, it might be extra are set to come back, however proper now it’s displaying me:
- 2 midweek Cineworld tickets for £10
- £65 off a Jet2 vacation
- 15% off at Payments
- £50 vitality credit score and £50 M&S present card when you be part of Octopus Vitality
- 10% off and no becoming a member of charges at The Fitness center Group
- 15% off a 3 yr railcard at TrainPal
- As much as £150 present card through Cuckoo Broadband
General it’s fairly disappointing and never too completely different to affords accessible elsewhere. Nonetheless when you’re an current buyer (don’t neglect that switching deal and common saver!) then there’s no hurt having a look.
You’ll must register for the scheme. To do that, go to Menu on the app (through ‘Extra’ or the three strains) and choose perks. A brand new tab will open in your browser and also you’ll must set a brand new log in and password for this account (it gained’t change your First Direct log in particulars).
Halifax Reward account to pay out when you miss out
We reported in late Could changes to the Halifax Rewards. From September you’ll now not obtain a reward in it’s present type. This implies an finish to £5, a cinema ticket or a digital journal subscription.
It’s since been introduced that you just’ll get any rewards nonetheless due paid in bulk in October. This can solely be for any time remaining from every 12 month interval. So when you have been because of renew in December (like me), then you definitely’d get three tons in a single go.
When you initially selected the £5 reward or journal subscription, you’ll get this in money funds. When you selected cinema tickets, you’ll get all of the remaining cinema tickets.
So don’t swap away simply but!
Will there be new Halifax Rewards?
As for the brand new rewards promised, up to now all that has been revealed aren’t any debit card charges on abroad spending (already dwell) and as much as 3% curiosity on balances as much as £5,000 (from 1 October). These are fairly poor and never a purpose to stay with the account as soon as the ultimate cost has been made.
I’m nonetheless hoping we’ll get one thing extra thrilling introduced, however there’s part of me that wonders if that’s it. Halifax is a part of Lloyds group together with Financial institution of Scotland, and this new providing is just about the identical because the BoS Vantage account, albeit that one doesn’t have the £3 month-to-month payment.
There’s additionally not been a Halifax financial institution swap provide in two years. Plus, when you log into your Halifax, Lloyds or BoS app, you’ll in all probability have observed that the beginning display screen tells you the banks are “A part of the identical household”. Together with an announcement that clients of any financial institution can use all branches from the group, might it’s that they’re simply deprioritising the Halifax model?
We’ll hold an eye fixed and allow you to know if something is introduced – and what we consider it.
Santander to purchase TSB
One other large financial institution takeover, this time with Santander agreeing to purchase TSB. For now there’s no change for patrons of both financial institution, and it in all probability gained’t full till early 2026.
If it does go forward, then there might be a gradual change. Maybe the TSB model might be eliminated fully? Or if it does stay, the banking licences might be mixed, impacting the £85,000 FSCS protection on savings. You’d think about there can be some department closures the place there’s each manufacturers on the identical excessive road. However for now, simply stick with it as regular.
Lloyds to purchase Curve
Curve was one in every of my high picks for years, however it’s been fairly pointless since a raft of changes back in 2022 that added charges and eliminated options. Now it seems to be like Lloyds Financial institution will probably be shopping for the enterprise. That might be excellent news for customers, however I anticipate it gained’t be. As an alternative, I’d think about Lloyds are simply after the expertise reasonably than current product, so we might effectively see the model closed down. Once more, we’ll let if something is introduced.
Moneyhub to outlive?
The final of the right budgeting apps is about to shut to shoppers on 16 August, however it’s been introduced that clients can switch their accounts to WPS Advisory. They’re already utilizing MoneyHub’s methods within the background so it’ll work equally.
I can’t discover particulars of costs, and my current Moneyhub account gained’t open, so it’s arduous to offer you extra particulars proper now. However when you’re a devoted consumer of the app, it’s value transferring your information earlier than the deadline.
Our high present accounts for August 2025
I at all times suppose it’s value having multiple present account (find out why here) and right here’s my run-down of the highest accounts to have this month.
