January 2025’s current account news & offers 

January’s present account gives

Newest financial institution switching offers

It’s been a quiet interval since a number of gives led to mid December. Three gives are nonetheless working. Click on the hyperlinks for full evaluation of every supply.

Nationwide is offering £175 for a private account and one other £175 for a joint account swap, so a pair may doubtlessly get £525.

First Direct’s switching offer can also be for £175. Don’t overlook you possibly can entry a 7% regular saver with this financial institution.

There’s £150 available from Santander, and you will get 6% interest and 1% cashback on payments.

Trying again eventually couple of years we may additionally see one thing from NatWest and Lloyds by mid-February. It’s additionally attainable Co-op and TSB may return with one thing quickly, although it’s at all times fairly erratic with them. As ever, look out for our in-depth updates as quickly as any swap occurs.

Monzo gives 1p financial savings problem prize draw

This 12 months Monzo prospects can automate the 1p financial savings problem direct of their Monzo app. It’s a easy thought. On day one, 1p is moved out of your most important account right into a separate pot. On day two it’s 2p, and so forth. Do that on a regular basis for a 12 months and also you’l find yourself with near £668. Although I believe there are better ways to automate your savings, it’s price a search for Monzo customers.

It’s accessible to all prospects till 31 January 2025, whereas anybody with Max, Perks or Extra can start it at a later day.

However for those who do enter earlier than the tip of January you’ll be entered right into a prize draw to win £10,000. You’ll have to ‘full’ the problem, which implies save the complete £667.95 by day 365. In case you miss a day, or have to take a break, you possibly can prime it as much as stay within the working.

Max, Perks and Further prospects who begin earlier than 31 January may even be within the working for ten £100 prizes every month in one other prize draw. Once more you’ll have to be on monitor by the tip of the month.

In case you have these paid accounts, you’ll additionally have the ability to earn curiosity in your financial savings, at present 4.1%. Sadly customary Monzo prospects, or these with the outdated Premium and Professional packages received’t obtain any curiosity.

Prepare now for Nationwide £100 bonus

It’s doubtless that Nationwide will supply their £100 Fairer Share Bonus on 2025. Nevertheless in the event that they do, it might be for a special quantity and the eligibility guidelines might be completely different.

Nevertheless, if the principles are the identical as in 2023 and 2024, then you definitely’ll need to act now to make sure you get the money as you’ll want to take motion in two of January, February and March. I’ve lined the Fairer Share rules in more detail right here.

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January’s present account information

Halifax Reward monitoring points once more

We’ve seen quite a few you share in our Fb group that the £500 spend on Halifax Reward accounts hasn’t tracked but this month – and the identical goes for me.

This isn’t the first time this has happened, and the funds have all beforehand been tracked behind the scenes and funds made the next month. In fact, for those who don’t get the £5 in February, be sure you get in contact with the financial institution.

We’ll additionally contact the Halifax press workplace to verify in the event that they’re conscious of the difficulty, and replace this text if we get any replace.

Lloyds and Halifax to share branches

Although a date hasn’t been confirmed, in some unspecified time in the future this 12 months you’ll have the ability to absolutely financial institution at Lloyds, Halifax and Financial institution of Scotland branches, no matter which one you may have an account with.

That’ll imply for those who solely have one close to you, you’ll nonetheless get entry. Nevertheless, when you have a couple of, it’ll doubtless imply extra closures.

YouGov Connections is reside for all

Again in November I shared how the YouGov Finance alternative works, for those who may get it. Properly now it appears all YouGov customers can get entry to YouGov Connections by way of the YouGov app. You may earn as much as £55 a 12 months by connecting three present accounts. Right here’s how YouGov Connections works.

Buying and selling 212 reduces cashback to 0.5%

Although it had been prolonged a number of instances, the upper 1.5% cashback price from the Trading 212 card has lastly dropped again to 0.5%. Although it’s additionally launched round-ups, I nonetheless wouldn’t be utilizing this card for spending, with Chase still a better option for my part.

Coventry Constructing Society buys Co-op Financial institution

The deal for Coventry BS to purchase the Co-operative Financial institution was lastly accomplished at first of the 12 months. In case you have accounts with both you received’t see any adjustments for now, and each manufacturers are prone to stick round for a number of years. You’ll additionally nonetheless get separate FSCS safety.

My prime present accounts for January 2025

I at all times assume it’s price having a couple of present account (find out why here) and right here’s my run-down of the highest accounts to have this month.

1. Greatest account for on a regular basis banking / app – Starling (review)
2. Greatest account for on a regular basis spending – Chase (review)
3. Greatest account for payments – Santander Edge (review)
4. Greatest account for rewards – Halifax Reward (review)
5. Greatest account for financial savings curiosity – Santander Edge (review)