UK bank offering free £175 bonuses - who can get the cashThis development arrives as banks escalate incentives to prevent customers from leavingView 2 Images The Co-operative Bank has revived a switching promotion (Image: milorad kravic via Getty Images)High street banks continue to try to entice new customers, with the latest offensive offering households a £175 cash incentive simply for switching accounts. The UK bank has said existing customers may be able to get the cash, too. ‌Co-operative Bank has revived a switching promotion that provides new and existing customers up to £175 in cash, as lenders compete to attract financially squeezed Brits enticed by quick money and eye-catching rates. The Co-op said its latest offer is designed to give budgets “some breathing space” as the long slog between December and January paydays finally ends for many. The offer is open to both new customers and existing account holders who switch another bank account into an eligible Co-op current account, but excludes student and basic bank accounts.

Source: Daily Mirror January 28, 2026 12:27 UTC