MSE News: There's never been a better time to switch bank - the 10 need-to-knows

Former_MSE_Helen

Banks are salivating for business, pushing out lucrative perks for switchers. Here are the 10 need-to-knows...

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There's never been a better time to switch bank - the 10 need-to-knows




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dr_adidas01

How do you know Banks are salivating for business?

Why is it MSE is constantly at the moment pushing this nonsense about switching banks all the time.

Perhaps its partly to do with First Direct giving a referral fee to MSE for everyone that signs up to a FD account via this site?

Wilt

Or perhaps it's because switching bank accounts is an easy way to get £100+ - these sort of things are why this site exists, are they not?

andyfromotley

Because at least 5 banks will give yuo one between £100 and £185 for switching? They're offering this because they are super keen to get customers. One could say...salivating.

This site has always as far as i know been perfectly open about when and how it earns money from links, its hardly like you have uncovered some dirty little secret. If you take the time to read the article you will see that there are a number of deals that top FD, they are mentioned before FD in the article. Shooosh ..... some people.

Archi_Bald

andyfromotley wrote: »

Because at least 5 banks will give yuo one between £100 and £185 for switching?

£185? Where, where?

tomm74

Just a reminder, that if you're leaving HSBC to protest at the recent headlines regarding tax evasion (as the article suggests) - First Direct (always MSE's top recommendation) are part of HSBC too.

pollypenny

People are switching because, like us, they are fed up with earning a paltry 1/2% on savings and nothing on current accounts.

Fruit_and_Nut_Case

MSE_Helen wrote: »

There's never been a better time to switch bank

Doesn't necessarily mean that there will never be a be a better time in the future. You may want to hold out for better deals.

Caddyman

tomm74 wrote: »

Just a reminder, that if you're leaving HSBC to protest at the recent headlines regarding tax evasion (as the article suggests) - First Direct (always MSE's top recommendation) are part of HSBC too.

I've just joined M&S bank also part of HSBC. Just about to use the switching service to switch away from another 'spare' account with another bank that I do have stuff going in and out of and the bonus of course being, I'll get £125 M&S voucher for doing so. Seems perfectly logical to me!

Steve_xx

Archi_Bald wrote: »

£185? Where, where?

I think this refers to a switch to Halifax where you would get the £125 switch incentive, plus the £5 reward per month. So in/after the first year the total would be £185!

But you already knew that Archi.

Archi_Bald

Steve_xx wrote: »

I think this refers to a switch to Halifax where you would get the £125 switch incentive, plus the £5 reward per month. So in/after the first year the total would be £185!

But you already knew that Archi.

Ah you could be right. I keep forgetting that there are still MSE forumites who haven't been collecting their monthly Halifax fivers for a couple of years now.