current account switching offers

savingwannabe

Hi apologies if this is a silly question but does anyone think banks will be offering more bonuses (eg £100 in cash or vouchers) for opening new current accounts with them later this year if their current offers have ended?

The bonus cash offers that Coop & TSB have ended now but I was unaware how to benefit as I had just started to do a transfer on my current account. I am going to try M&S in the near future when I am able to. Does anyone know if they or other banks tend to repeat offers at certain types of the year?

Many thanks for reading. I hope this makes some sense and that someone can offer advice. :j

NectarCollector

just be patient and wait, nearly all of the offers are winding up for this tax year end now so after April there may be some new ones popping up

savingwannabe

Bless you, I hoped so. I am new to this but wasn't sure. Many thanks for helping me.:j:money::D

badger09

NectarCollector wrote: »

just be patient and wait, nearly all of the offers are winding up for this tax year end now so after April there may be some new ones popping up

What makes you think bank switching incentives are affected by the end of the tax year?

Genuine question:cool:

A_Flock_Of_Sheep

Halifax have been barring previous swichers since January 2012 for getting more joining payments. Think it is the same for other places too. I wonder when Halifax may change this date.

First Direct say that if you have had the "bonus" before you won't get it again. But my question on this is: How long should they be retaining your data for so as to even remember if you have applied previously. Under DPA I mean? Is it reasonable for them to hold your data for an indefinite period when CRA data on closed accounts is cleared after 6 years. I think you can dispose of tax records after 7.

It was about March 2012 I got my Halifax joining incentive so that is now 4 years ago and I am still serving a non return sentence.

diamonds

A_Flock_Of_Sheep wrote: »

Halifax have been barring previous swichers since January 2012 for getting more joining payments. Think it is the same for other places too. I wonder when Halifax may change this date.

First Direct say that if you have had the "bonus" before you won't get it again. But my question on this is: How long should they be retaining your data for so as to even remember if you have applied previously. Under DPA I mean? Is it reasonable for them to hold your data for an indefinite period when CRA data on closed accounts is cleared after 6 years. I think you can dispose of tax records after 7.

It was about March 2012 I got my Halifax joining incentive so that is now 4 years ago and I am still serving a non return sentence.

Just got £125 from them, I did leave them in the nineties though

alternate

badger09 wrote: »

What makes you think bank switching incentives are affected by the end of the tax year?

Genuine question:cool:

Number of customers etc is used as a measure of success and are reported at the end of the financial year. The more customers they can sign up this year the better figures they can report. They still want you as a customer next year but they will have a full year before those signups are reported.

It is no coincidence most offers end or change around this time of year.

Eco_Miser

A_Flock_Of_Sheep wrote: »

How long should they be retaining your data for so as to even remember if you have applied previously. Under DPA I mean? Is it reasonable for them to hold your data for an indefinite period when CRA data on closed accounts is cleared after 6 years.

It is reasonable for them to retain the fact that you were once a customer forever, precisely because their offers are once in a lifetime.

YorkshireBoy

alternate wrote: »

It is no coincidence most offers end or change around this time of year.

I've been bagging current account opening and latterly switching incentives for more years than I care to remember, but can't say I've noticed this.

Westie983

Don't think incentives are controlled by the end of tax year more likely ISA rates changes.

Halifax incentives have ran consecutively (at different payments) for years irrespective of TYE

YorkshireBoy

Westie983 wrote: »

Don't think incentives are controlled by the end of tax year more likely ISA rates changes.

Halifax incentives have ran concurrently (at different payments) for years in respective of TYE

I think you mean 'consecutively' and 'irrespective'.