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MSE News: First Direct launches new current account switch offer - here's how it stacks up

First Direct has launched a range of new bank switching incentives including a £150 Expedia voucher or a Fitbit Charge 2 - just a day after it stopped offering its £125 cash bribe...
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''First Direct launches new current account switch offer - here's how it stacks up'
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Comments

  • aj23_2
    aj23_2 Posts: 1,155 Forumite
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    I'd rather have the money.
  • Zanderman
    Zanderman Posts: 4,778 Forumite
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    aj23 wrote: »
    I'd rather have the money.

    So would I.
    • Expedia vouchers? No use to me, Not a way we do holidays.
    • Online self-development courses? The web is awash with these, and offers for these. And anyway I don't need to do one at the moment.
    • Gadget? Have got headphones (most people have!), have no need for bluetooth speaker, no need for Amazon's Echo Spot and no need for a fitbit.

    Cash, however, is always useful.

    So, nil points from me.

    If I hadn't already got an FD account this wouldn't tempt me in.

    Indeed it would put me off!
  • aj23_2
    aj23_2 Posts: 1,155 Forumite
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    Zanderman wrote: »
    So would I.
    • Expedia vouchers? No use to me, Not a way we do holidays.
    • Online self-development courses? The web is awash with these, and offers for these. And anyway I don't need to do one at the moment.
    • Gadget? Have got headphones (most people have!), have no need for bluetooth speaker, no need for Amazon's Echo Spot and no need for a fitbit.

    Cash, however, is always useful.

    So, nil points from me.

    If I hadn't already got an FD account this wouldn't tempt me in.

    Indeed it would put me off!

    The next account for me that I would have switched would have been FD for the £125 but I won't be now.
  • veryintrigued
    veryintrigued Posts: 3,843 Forumite
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    Look out for plenty of BOSE earphones on eBay in the next few weeks!
  • Yorkshire_Pud
    Yorkshire_Pud Posts: 1,915 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I hate vouchers ( except Amazon). I love cash.

    Thumbs down from me.
  • Amoux
    Amoux Posts: 71 Forumite
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    Typically, First Direct's customers are digitally-savvy and entrepreneurially-minded, choosing to bank with us for our pioneering tech and award-winning customer service. From them we know cash into your account when you join is great, but it can get lost on day-to-day spending.

    "These new incentives will start our relationship off on a more personal level, offering something that can be enjoyed over a longer period of time.

    You have to hand it to them, they really are peddling hard with this marketing b***ocks

    Not good. Would rather the cash.
  • Nick_C
    Nick_C Posts: 7,506 Forumite
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    I'm glad I got in on the 13th once I got the NatWest bonus.

    The cash incentive has been around for a long time. These "gifts" may be more attractive to some people than the cash. £125 cash or £150 to spend with Expedia? I would have been tempted by the Expedia voucher for an additional 20% of value.
  • duncansby
    duncansby Posts: 292 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    This is very disappointing - I was planning to switch to 1st Direct later this year but won't bother now - can't say Martin didn't warn us though
  • aj23_2
    aj23_2 Posts: 1,155 Forumite
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    duncansby wrote: »
    This is very disappointing - I was planning to switch to 1st Direct later this year but won't bother now - can't say Martin didn't warn us though

    Halifax will probably increase theirs again soon, seem to every few months for a few weeks or so. Some others may bring theirs back or introduce new offers.
  • Wouldn't be surprised if this prompts other banks to start withdrawing their cash incentive switch offers, and doing something similar instead over the coming months.


    I don't think it's a good thing personally, cash is always better than choosing from a small selection of items that the bank thinks you want.
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