I’m a serial switcher.
I have a couple of ‘burner’ accounts - ie accounts I dont actually use, which I simply swap around.
I switch myself, my DH and my 19 year old son with each deal we qualify for. In the last 6 months, we will have got £1800 collectively.
There are periods with plenty if switches around and then not many. At the moment, NatWest, RBS and Ulster all give £200. Many people have done all 3 and netted £600. If they are couples that could be £1200. I’d think of it as being less than 2 hours work.
The key is to keep careful track of dates you open accounts and keep careful records of your passwords, card number etc. You have to be careful to check the terms and conditions so that you meet them - often this involves paying in a minimum sum, having some DDs set up and setting up the app. Switches usually complete in 7 days. You might not get the bonus so quickly - although some come within a couple of days - but if you’ve met the terms you should get it.
It helps if you’ve got some ready cash to move around to meet minimum pay-ins.
It’s very easy money if you’re confident with internet banking and opening new accounts.
If you’ve never done it and only have the one current account you use, look to see if you can open another current account with that same bank online. They have all your details so it can often be instantesous. Wait until you have the card details (will come in post or you might see it online or in the app) and then set up a switch with another bank that has an offer. Once the switch completes, just leave a small sum in the account or whatever meets the co dictions (go for fee free accounts if possible that don’t require monthly pay-in) and then just wait for another bonus and offer and switch from that one. You can do one and see how you get on.