Switching incentive payments: is it the end?

bundly

I've been switching bank accounts to obtain the incentives. All the accounts I opened have now paid me the incentive and so lie empty and dormant.

I have not closed them because I was expecting that, by now, there would be new banks offering switching bonuses. But there aren't.

Question is, shall I keep those dormant accounts open and wait for new "switching incentive" bank offers, or is that the end of switch incentives now, and there are unlikely to be any more?


Bundly

[Deleted User]

bundly wrote: »

I've been switching bank accounts to obtain the incentives. All the accounts I opened have now paid me the incentive and so lie empty and dormant.

I have not closed them because I was expecting that, by now, there would be new banks offering switching bonuses. But there aren't.

Question is, shall I keep those dormant accounts open and wait for new "switching incentive" bank offers, or is that the end of switch incentives now, and there are unlikely to be any more?


Bundly

Keep the dormant accounts open as long as they aren't costing you anything in fees. There will be a new round of switching incentives along in due course. You will probably find that you will be able to benefit for a second time after about 5 years of payment the first time.

Westie983

How long is a piece of string answer I think.

What accounts have you already had incentives for?

If like me you have had incentives from most of the banks on the high street, or are already a customer and dont therefore qualify.

Then there will be no need to keep them open.

But if you havent got an account from Barclays for example then they may introduce an incentive, so worth keeping just in case.

Most of the banks have offered incentives now, including some of the banks other 'arms'

Westie983

bundly

Definite difference of opinions here!

ValiantSon

If it costs nothing to keep the accounts open then why worry?