Lloyds Banking Group PLC (LSE:LLOY), Banco Santander (LSE:BNC), Nationwide Building Society and two other banks have all launched a promotion offering Brits as much as £200 to switch their current accounts.
People looking to make the switch must do it through the Current Account Switch Service to be able to receive the bonus payment.
Lloyds said it would pay £175 for those who switch to its Club Lloyds, Club Silver or Club Platinum accounts as long as they have transferred over three direct debits.
Santander will also pay the same amount for those who transfer over to a Santander Edge account, while Nationwide is paying £200 to those who switch over a rival current account to a new or existing FlexDirect account -albeit if they have at least two direct debits set up.
TSB is also offering switchers a £100 bonus and £60 cashback, while First Direct said it would pay people £175 to move across.
All five of the offers feature additional stipulations switchers must meet before they can receive the cash bonus.