Serial Switching for Rewards. Not good.

Legacy_user

I really don't like it when people appropriate money or other rewards through serial switching. I am obviously only speaking for myself, but this doesn't automatically invalidate my point of view. I try and lead my life according to basic values of right and wrong. If these values need firming up I refer to my own choice of religion, Buddhism, and also 'What Would Jesus Do?', which effectively amounts to the same thing. I do what I think is right, just and kind - regardless of the ethics of the other party. A person who will go out of his/her way to make money by taking advantage of rewards which companies offer to attract customers when they have no intention of using the account in the way it was intended is, in my opinion, doing something wrong.

Am I in a minority of one? On this forum I feel I am.

Zanderman

This is Money Saving Expert, not Moral Serving Expert.

Sea_Shell

Seriously!!! You'll get a nosebleed from being that high up on your steed.

If no rules are being broken, T&C's followed, and the banks are offering FREE MONEY, then where's the morality in that. If they didn't want to be USED in that way, then they should tighten up the rules.

We're not drowning kittens or anything. So don't make us out to be bad people, thankyou.

If you don't want to do it, that's your choice, but don't berate others for taking them up on their generous offers.

Have nice day!!!! (I'm off to rob an old lady now, ta-ra)

Sea_Shell

Not so Squeaky clean after all.....just recently you posted...

"I use my co-operative bank current account as my day to day account. I receive £5.50 each month in Everyday Rewards. I've earned just under £100 since I opened my account in 2017 - plus at the time there was an incentive of £125 so I've done well out of it."

So you've had your hand in the cookie jar of incentives too!!!!!

LobsterMemory

I'm a bit more Zen about it as one would assume that the banks have factored in a certain amount of this behaviour when they offered the deal

I have less time for those that complain about terms being reduced or opportunities withdrawn when it's potentially their own actions that have made the banks reassess their offering

I have no time for those who moan about missing deals or facing charges because they didn't follow the terms and conditions

LobsterMemory

Sea_Shell wrote: »

Not so Squeaky clean after all.....just recently you posted...

"... at the time there was an incentive of £125 so I've done well out of it."

So you've had your hand in the cookie jar of incentives too!!!!!

There's a difference between switching and serial switching

System

Sea_Shell wrote: »

Not so Squeaky clean after all.....just recently you posted...

"I use my co-operative bank current account as my day to day account. I receive £5.50 each month in Everyday Rewards. I've earned just under £100 since I opened my account in 2017 - plus at the time there was an incentive of £125 so I've done well out of it."

So you've had your hand in the cookie jar of incentives too!!!!!

Read my post again - I specifically stated that I don't like it when people avail themselves of rewards with no intention of using the account as it was intended. I moved to the Co-operative Bank WITH the intention of using it as my day to day account. This I have done and the reward was nice and fairly earned. I'm not opposed to rewards and I also use sites like Quidco.

masonic

Banks are businesses. Given the chance they'll screw you over. They already do so for many who borrow from them and pay over the odds, and many who save money and aren't paid a fair rate of interest. It is their responsibility to dictate the terms under which they will do business with us (subject to regulatory restrictions that are very much needed), and it is each party's responsibility to get the best out of that business relationship.

I'd imagine serial switchers are more likely to switch their main account, as they'll have tested out several banks and won't moralise about spurious concepts like loyalty to a corporate entity. I've got experience of banking with all the major banks, and get opportunities to regularly review the competition as the landscape develops. It is always possible to switch without collecting an incentive if your moralising makes you feel you should.

scgf wrote: »

Read my post again - I specifically stated that I don't like it when people avail themselves of rewards with no intention of using the account as it was intended. I moved to the Co-operative Bank WITH the intention of using it as my day to day account. This I have done and the reward was nice and fairly earned. I'm not opposed to rewards and I also use sites like Quidco.

That changes things. I agree people who switch should use it as an opportunity to see if the grass is greener. Who wouldn't start to use the account as it was intended if it was actually much better than the account they were currently using as their main account?

Edit: and while we are moralising, what is your view on somebody who makes a generalisation that anyone who is part of a certain group is "not a very nice person, or at the very least, a person lacking in moral integrity" without having any personal knowledge about them? Is that something 'Jesus would do'? My understanding is that your religion of choice, Buddhism, takes the position that there are no moral absolutes, and it is recognised that ethical decision-making involves a complex range of factors and motivations.

Organist

When banks adopt a similar moral and ethical stance I'll reconsider switching for rewards and then moving on. I think l'll have a long wait!

System

masonic wrote: »

Edit: and while we are moralising, what is your view on somebody who makes a generalisation that anyone who is part of a certain group is "not a very nice person, or at the very least, a person lacking in moral integrity" without having any personal knowledge about them? Is that something 'Jesus would do'?

It's my opinion which gives it no more validity than your opinion. When it comes to morality and ethics there are indeed shades of grey and I admit I see fewer shades of grey than others might. I have a sense of right and wrong and it's always difficult to argue a moral stance - you can only do it from your own perspective and even then you set yourself up for attack. On the other hand I really believe we should stand up and speak out about issues we feel are not right - whether that be Trump's racism, Boris Johnson's lies and duplicity, or Corbyn's friendship with known terrorists. I fully appreciate that in each case there will be supporters who take a completely opposite stance.

I am not a Christian, but to answer your question the first thing Jesus would do is talk about the plank in my own eye. I get it. I try, though, and I'm absolutely not prefect and I'm not looking down on others from a height. Jesus cast out the merchants and money-lenders from the temple so I suppose he did have something to say about these things. He wouldn't be happy about the banks and their practices, however he wouldn't support a contrary reaction which is immoral.

rawhammered

Agreed.
I’m not a very nice person and I’m ok with that!