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

aj23_2

t1redmonkey wrote: »

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.

Halifax is the only one who does. M+S is vouchers for in their store so that's pointless.

SephirothX

Glad I got my switch in last night before the change. Although the Expedia voucher is decent if you travel frequently, which I do. But Expedia isn't always the cheapest and most booking sites give 10% cashback on hotels which you'd not get with a voucher.

karlie88

Clever move by FD.

A lot of those incentives appeal to the younger generation.

Mchambers

Got the cash bonus a few years ago.

binaryuniverse

aj23 wrote: »

M+S is vouchers for in their store so that's pointless.

It's not entirely pointless, as it's saving you money you would have otherwise spent on food.

Unless you never eat food?

aj23_2

karlie88 wrote: »

Clever move by FD.

A lot of those incentives appeal to the younger generation.

Not me. I need money, not headphones. I'd just put them on eBay.

aj23_2

binaryuniverse wrote: »

It's not entirely pointless, as it's saving you money you would have otherwise spent on food.

Unless you never eat food?

If you buy food in M+S which is more expensive than any other supermarket perhaps bar Waitrose.

Moot point to make.

binaryuniverse

aj23 wrote: »

If you buy food in M+S which is more expensive than any other supermarket perhaps bar Waitrose.

Moot point to make.

Hardly. Their food being expensive doesn't mean much when the money you're given, to buy the food, was free.

It'll easily save me some £150, over the food I would normally have bought (with the card fully topped up to £185). More if I'm savvy with it.
If you believe that to be a moot point, then you are on the wrong website.

djpailo

aj23 wrote: »

If you buy food in M+S which is more expensive than any other supermarket perhaps bar Waitrose.

Moot point to make.

Even if those products are a little more expensive, you still save money by not having to purchase the items somewhere else...

M&S giftcard (which they used to give for the switch) can also be spent in the cafe, where the coffee/ tea etc is roughly the same price as any other high street brand coffee shop.

You can also visit the stores near closing times and get reduced bakery items regularly. That is also the case with Waitrose, where I've got pastries for 9p.

Your opinion is strange to me because you are effectively complaining about getting free items...

karlie88

aj23 wrote: »

Not me. I need money, not headphones. I'd just put them on eBay.

Obviously not an attractive offer to a young MSE user.

You can see what they're trying to do here though...

...they're trying to attract a younger generation of customers with the hope of them getting mortgages, loans and/or credit cards. Over a period of 10 years, a 25 year old customer is going to make them more money than a 60 year old.

They're looking for millennials.

A clever move.