cashbacks and bank accounts

Helvetica75

I see there are cashbacks available for bank accounts by topcashback, quidco etc.
1) are there cashbacks available for just opening an account, without having to switch?
2) as for cashbacks that are offered when you switch, which is the highest considering the other perks, eg the interest rate, the cashback that the bank offers etc?

ceredigion

1) No
2) depends on your needs

Helvetica75

What are my needs? obviously the biggest benefit!

MoneyMission2015

Helvetica75 wrote: »

What are my needs? obviously the biggest benefit!

I think what Ceredigion means is what would be the most beneficial to you personally. Some bank accounts offer free travel insurance, but if you never go on holiday then this would be of no benefit to you but would be for somebody who travels often. Same if the account offers insurance cover for your smartphone, but if you don't have a smartphone then again this is useless.


Santander is the most beneficial for me & my husband but Halifax has been more beneficial for my OH's brother & his wife.

Helvetica75

Then, I mean the biggest benefit in cash. I 'don't want any insurance or coupons for M&S, etc.

gazapc

To be the fair, the £125 M&S voucher is pretty good. Sure not as good as cash but I'm sure you can find something to buy there. I've used it for food, some new cutlery, some clothes and still got 35 waiting for something else to come along. All stuff I would have probably bought anyway.

Anyway there is already an article on the best bank accounts. Take your pick: http://www.moneysavingexpert.com/banking/compare-best-bank-accounts.

colsten

Helvetica75 wrote: »

Then, I mean the biggest benefit in cash.

I am sorry but this question can only be answered by yourself as none of us knows how you would be using the accounts.

For example, I could tell you that a Santander 123 pays me around £600 net a year. They would pay you exactly the same if you had exactly the same balance, and exactly the same DDs that I have. Similar applies to just about any other account.

Only you know how you will use the accounts, so only you can work out which one(s) would pay you the most cash.

colsten

gazapc wrote: »

To be the fair, the £125 M&S voucher is pretty good.

I agree, it's an excellent offer, not least because you don't need to spend the entire voucher in one go.

You can also turn the voucher into cash if that's what you want - - e.g. by buying your food with the voucher money, and saving the cash that you would otherwise have used to pay for your food.

YorkshireBoy

helvetica75 wrote: »

2) as for cashbacks that are offered when you switch, which is the highest considering the other perks, eg the interest rate, the cashback that the bank offers etc?

£278.75.......

tom222

I opened a Co-Op account in January through TCB for £40.40 cashback. I never initiated a switch and I actually closed the account within the 14 day cooling off period. Cashback still paid out.