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MSE Blog: It took me eight months to switch bank

"We've all been there. We're going out with a girl/guy (delete as appropriate) we know is no good for us, we know we could do better and yet we stay with them because… well because, often it's just easier. ..."

Read MSE Amy's full blog:
It took me eight months to switch bank

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  • karlie88karlie88 Forumite
    9.1K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    Do you keep meaning to switch banks but feel like something is holding you back?


    As soon as a new switching incentive pops up, I'm on it like a car bonnet.

    Of course, having a couple of donor accounts always helps.


    So far, First Direct (£125), Halifax (£100), Co-Op (£100 + £25 to charity), M&S (£100 gift card), Santander (£40 via Quidco) and Nationwide (£35 via Quidco) have all been a fruitful switch.

    I await for the Post Office to offer its £100 One4all gift card again with their current account switch service and who knows, Virgin Money may even join in.

    Fortunately, a lot of these switches have also led to some decent accounts, e.g. FD's 6% Reg Saver, Halifax's Reward Current Acc, Santander's 123 Current Acc and Nationwide's FlexDirect Current Acc.

    Oh and by the way, I have always kept a close on my credit rating when switching to new accounts.

    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • colstencolsten Forumite
    17.6K Posts
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    No # two.
  • Archi_BaldArchi_Bald Forumite
    9.7K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Me no three.
  • anoncolanoncol Forumite
    982 Posts
    So what was the psychological thing holding op back? She didn't say.
  • HazzanetHazzanet Forumite
    1.7K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    Quiet news day?
  • HerbalusHerbalus Forumite
    2.6K Posts
    Tenth Anniversary 1,000 Posts Name Dropper
    Poor Amy. It's perfectly understandable that some people will feel held back before switching, especially when you haven't done it before, don't have donor accounts, and have fewer than 2 accounts anyway. That counts all of you lot out above me! ;) It's different when you only have one account as opposed to 10+, because it doesn't matter if it goes Pete Tong when it's your fourth barclays that you're switching.

    The psychology is a fear of change, which might be irrational, but it still exists. I'm a great believer in switching for perks, but I can understand people might not be too keen. Not everybody is a 'professional' switcher.

    P.S. Amy - you can avoid the £10 FD fee by having another product with them. Not all are included (see the T+Cs for which are), but the easiest is a savings account with £1 in.
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