{
  "id": 1377296,
  "title": "How switching your bank account could earn you up to £220",
  "url": "https://urgent.news/2026/08/16/how-switching-your-bank-account-could-earn-you-up-to-220",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-16T23:14:47.000Z",
  "source": {
    "name": "BBC News",
    "slug": "bbc-news",
    "url": "https://www.bbc.co.uk/news/articles/c5y3ex8ry82o?at_medium=RSS&at_campaign=rss"
  },
  "original_language": "en",
  "account": "Many people have remained loyal to their banks for years, potentially missing out on significant amounts of money. Banks offer incentives to switch accounts, with some providing up to £220. Hargreaves Lansdown's research found that almost two-thirds of British savers have been with their bank for over a decade. This inactivity costs British savers around £12bn annually in missed interest. Not switching banks may seem easy, but it leads to poor returns. Banks benefit from customers' inertia, while savers lose out on potential gains. Sarah Coles, head of personal finance at AJ Bell, notes that people are loyal to their banks, prompting competitors to offer enticing incentives. However, customers should consider other factors besides the bonus, such as the bank's reputation, overdraft charges, and savings rates. Changing banks will appear on your credit report, which lenders consider when assessing loan or mortgage applications. To switch banks, use the free Current Account Switch Service (CASS) offered by over 50 UK banks and building societies. Notify your new bank of your switch date and old account details, and manually transfer any recurring card payments.",
  "summary": "New research suggests staying put is costing British savers billions in missed interest every year.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}