Switching should now be quick & hassle-free
If you haven't switched bank accounts in the last couple of years, you'll find that the process is now much quicker and easier than it used to be.
This is because 'seven-day switching' was introduced in September 2013, meaning switching accounts is now – for the majority – quick, easy and completely pain-free.
Under the new scheme, a switch takes seven working days, all your incoming and outgoing payments will be moved to your new account, and any wrongly applied charges will be refunded.
If you haven't tried it, and your bank gives you lousy service, read below for full info, then take a look at our top pick accounts.
The best-buy bank accounts with no or low minimum pay-ins
Most hot bank account deals require you to 'pay in' a certain amount each month to get the benefits. And many are worried they'll fall foul of this, making the deal pointless.
In fact, just because a bank has a minimum pay-in, that doesn't mean you must be in credit. It means that you must pay in a set amount – banks' way of ensuring your income/salary goes through the account.
For example, £1,000/mth equals a £13,200/yr pre-tax salary. So the best thing to do is to find all the top accounts that meet your minimum monthly pay-in.
The only best buy without a minimum pay-in is the M&S account. It gives a free £100 M&S gift card to switchers, plus a £100 0% overdraft and 6% linked regular saver.