This is a simple and legitimate way to earn extra money by doing something many people already do from time to time: switching bank accounts.
It works by combining:
- a bank switch bonus, and
- a cashback site
You don’t need special skills, and you don’t need to change your lifestyle.
It’s not instant money — but if you follow the steps carefully, it can be a very worthwhile bonus.
What is a cashback site?
A cashback site is a website that pays you money for clicking through them before you buy something or sign up to a service.
Here’s how it works in simple terms:
- Banks, insurers and retailers pay commission to attract new customers
- Cashback sites (like TopCashback) receive that commission
- Instead of keeping it all, they share most of it with you
So instead of going directly to a bank’s website, you:
- go to TopCashback
- click their link to the bank
- complete the application
- receive cashback once everything is confirmed
You can then withdraw that cashback to your bank account.
Cashback sites are commonly used for:
- bank accounts and bank switches
- insurance (car, home, travel)
- broadband and mobile contracts
- online shopping
What is TopCashback?
TopCashback is one of the largest cashback sites in the UK.
Once you’ve earned enough confirmed cashback, you can withdraw it:
- directly to your bank (BACS), or
- via gift cards (sometimes with a small bonus)
There is usually a new-user bonus once you earn your first £10 of cashback.
You can sign up here:
👉 https://www.topcashback.co.uk/ref/deju
What is a bank switch?
A bank switch means moving your current account from one bank to another using the UK’s Current Account Switch Service (CASS).
This service:
- moves your balance
- transfers Direct Debits and standing orders
- redirects incoming payments
- closes your old account
To attract new customers, banks often offer cash incentives, usually in the £150–£200 range, for completing a switch and meeting certain conditions.
How you can earn money by combining both
Sometimes, a bank will:
- offer a cash bonus for switching, and
- appear on TopCashback with extra cashback
When that happens, you can earn:
- the bank’s switch bonus, and
- additional cashback from TopCashback
You are doing one switch, but getting two rewards.
A real example: First Direct (others exist too)
First Direct regularly runs one of the best-known UK bank switch offers.
A typical First Direct switch looks like this:
- £175 paid by First Direct for switching and meeting their conditions
- Extra cashback via TopCashback if you apply through their link
- Possible TopCashback sign-up bonus if you’re new
There are often other banks running similar offers at the same time (such as TSB, Santander or Nationwide), but First Direct is a good example to understand the process.
Step-by-step: how to do it properly
Step 1: Create a TopCashback account
If you don’t already have one, sign up first:
👉 https://www.topcashback.co.uk/ref/deju
Step 2: Find the First Direct offer inside TopCashback
Log in to TopCashback and search for First Direct.
Important:
You must start your application from TopCashback, not directly on the bank’s website.
Step 3: Click “Get Cashback” and apply in one go
Once you click through:
- complete the application in the same session
- avoid opening extra tabs
- avoid using ad blockers if possible
This helps ensure cashback tracks correctly.
Step 4: Complete the bank switch
Most banks (including First Direct) require you to:
- use the Current Account Switch Service
- move at least 2 Direct Debits or standing orders
- pay in £1,000 within a set time
- make a small number of debit card payments
Always check the exact conditions shown when you apply.
Step 5: Meet all the conditions
This is crucial.
If you miss a requirement:
- the bank bonus may not be paid
- the cashback can be declined
Many people set calendar reminders to avoid mistakes.
Step 6: Wait for confirmation
This is normal:
- cashback first shows as tracked or pending
- the bank confirms the switch
- cashback becomes payable
- you withdraw it to your bank
This can take weeks or months.
What if I don’t want to lose my current bank account?
You don’t have to.
A common and sensible approach is to open a separate account just for switching, while keeping your main bank untouched.
How this works
- Open a new “secondary” account
- Use that account purely for switching
- Keep your main bank exactly as it is
Popular starter accounts include:
- Monzo, which sometimes has small welcome bonuses (£10–£50 depending on offers)
- Chase UK, which currently offers £50 when you deposit £1,000
This new account becomes your “switch account”. When you switch later, only that account is closed — not your main one.
A quick note about credit score (important)
Opening new bank accounts and switching banks can temporarily affect your credit score.
This happens because:
- banks run credit checks
- your account history changes
For most people, the impact is small and short-term, and scores usually recover after a few months.
When you might want to wait
If you are:
- planning to buy a home
- remortgaging soon
- applying for a large loan
…it’s usually sensible to pause bank switching until that’s done.
There’s no rush. Similar offers appear regularly.
If credit score is a concern right now, you may prefer Finance idea 2, which focuses on cashback linked to saving or investing rather than switching current accounts.
Who this is suitable for
- Anyone comfortable managing bank accounts
- People happy to read and follow conditions
- Those looking for one-off boosts, not side hustles
Who should avoid it
- If you need money urgently
- If switching banks causes stress
- If you’re close to a mortgage or major loan
Common mistakes to avoid
- Applying directly on the bank’s website
- Missing required payments or Direct Debits
- Closing the account too early
- Expecting instant payout
FAQ
What is a cashback site in simple terms?
A cashback site pays you part of the commission a company pays for new customers.
Is TopCashback legitimate?
Yes. It’s a long-established UK cashback site used by millions.
Do I have to switch my main bank account?
No. You can open a separate account specifically for switching.
Will this affect my credit score?
It can cause a small, temporary impact. If you’re planning a mortgage, it’s best to wait.
How long does it take to get paid?
Bank bonuses usually arrive within weeks of meeting conditions. Cashback can take longer.
Can anyone do a bank switch?
Eligibility depends on the bank, but age or employment status is usually not a barrier.
Quick summary
- Cashback sites pay you for going through their links
- Banks pay you to switch accounts
- Combining both can mean hundreds of pounds extra
- It’s not instant, but it’s simple and legitimate
