In conversation with each other, bilinguals sometimes code-switch between their shared languages. While psycholinguistic research often highlights the challenges of processing code-switches compared to single-language utterances, bilinguals seem to navigate code-switching with ease. Alongside empirical evidence that code-switching does not always disrupt comprehension in natural contexts, this raises intriguing questions about the potential benefits of code-switching. We propose that code-switching enhances bilingual listeners’ attention to the speech signal, improving the encoding and memory of linguistic messages near the switch. In Experiment 1, Spanish-English bilinguals listened to code-switched and single-language stories, occasionally reported their attention levels, and later answered comprehension questions. They reported greater attention to and demonstrated increased memory for code-switched content. Experiment 2 tested whether this attentional effect was simply due to the saliency of language changes by having English-speaking monolinguals complete the same task. Although monolinguals showed better memory when reporting higher attention, they did not show increased attention following code-switches. These findings suggest that bilinguals’ experience with the communicative contexts in which code-switches typically occur enables them to focus their attention on speech content during a code-switch, aiding in their collection and retention of that content over time.