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

Former_MSE_Megan_F

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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aj23_2

I'd rather have the money.

Zanderman

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

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

Look out for plenty of BOSE earphones on eBay in the next few weeks!

Yorkshire_Pud

I hate vouchers ( except Amazon). I love cash.

Thumbs down from me.

Amoux

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

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

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

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.

t1redmonkey

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.