Claim bank switching bonus without switching?

chr412

Has anyone got any experience with claiming the bank switching bonus without switching? I was planning on switching (Halifax to First Direct) but Halifax also do a bonus. If I write them saying I'm switching due to the bonus, unless they'd like to give me their bonus, is there any chance of getting it? I don't see why a new customer should get it but not me who's been with the bank 10 years.

Simker

We have a Halifax account, we opened up a new account elsewhere, put 100 in and switched to Halifax, got the switching bonus all ok.

InsideInsurance

chr412 wrote: »

If I write them saying I'm switching due to the bonus, unless they'd like to give me their bonus, is there any chance of getting it? I don't see why a new customer should get it but not me who's been with the bank 10 years.

Chances of getting it? Almost none, retention bonuses are almost unheard of in financial services. Cost of asking? Minimal so there is no harm in giving it a punt.

Why should a new customer get a new customer bonus but not an existing one? Because they already have you as a customer and so dont need to incentivise you to become one. "New customer discounts" exist almost everywhere in life.

MARTYM8`

In my experience switches are always required to get an incentive payment.

However imutual’s cashback for opening accounts with Santander (1-2-3 and everyday) does not appear to require a switch based on the terms listed – its worth around £30-£35 – albeit the equivalent terms on topcashback do require a switch. So this may just be a mistake

http://www.imutual.co.uk/santander-123-current-account

agrinnall

chr412 wrote: »

Has anyone got any experience with claiming the bank switching bonus without switching? I was planning on switching (Halifax to First Direct) but Halifax also do a bonus. If I write them saying I'm switching due to the bonus, unless they'd like to give me their bonus, is there any chance of getting it? I don't see why a new customer should get it but not me who's been with the bank 10 years.

Halifax will not care in the slightest whether you have been with them 1 year, 10 years or 100 years, no bank has any loyalty to it's customers so there's no point in customers having any loyalty to their bank. If you want the switching bonus you'll need to switch.

Archi_Bald

chr412 wrote: »

Has anyone got any experience with claiming the bank switching bonus without switching? I was planning on switching (Halifax to First Direct) but Halifax also do a bonus. If I write them saying I'm switching due to the bonus, unless they'd like to give me their bonus, is there any chance of getting it? I don't see why a new customer should get it but not me who's been with the bank 10 years.

It is a switching bonus, not a loyalty bonus. It is available to new and existing customers, nobody is excluded. If you don't have any accounts at other banks, just get yourself one and switch it.

If you get more than one, you might even be able to go after some other switching offers, too.