Current Account Transfer Incentives

planteria

with M&S and Nationwide no longer offering regular savers with appealing rates, and Halifax making their changes to Rewards, i've got accounts i'm up for transferring..
but are there any providers currently offering transfer incentives?
Clydesdale/Yorkshire were handy a few years back.. their welcome deal was great. unfortunately, they made a mess of admin and their CS was desperately poor so, along with others, i didn't stay with them for long.

born_again

At the moment no.
Most banks are trying to focus on current customer care, & not looking to bribe new customers to move.
Some such as FD, one who is always good for a bribe. Has pulled new account applications.

DCFC79

Im keeping an eye out for new accounts to switch too but its as prevooulsy mentioned, the current situation has meant customer care is now number 1 priority.

fenwick458

I wouldn't expect any for a good few years

planteria

thank you for replies.. i'm not so negative on the prospects fenwick. as the high street frees up i'd have thought some of the banks, including challengers, will be keen to grab market share during the reset of people's lives/careers/finances.

fenwick458

can anyone remember what happened post 2008 regarding bank switching offers? I remember having all sorts of good offers on current accounts and high interest savings accounts before then, and actually I do recall an alliance & Leicester switch for 150 around 2009, then absolutely nothing for a long time, and then I started doing it again in 2014.
I can't remember exactly if they weren't any offers about? or it could have been as I was skint and otherwise occupied!

Zanderman

fenwick458 said:

can anyone remember what happened post 2008 regarding bank switching offers? I remember having all sorts of good offers on current accounts and high interest savings accounts before then, and actually I do recall an alliance & Leicester switch for 150 around 2009, then absolutely nothing for a long time, and then I started doing it again in 2014.
I can't remember exactly if they weren't any offers about? or it could have been as I was skint and otherwise occupied!

Switching offers existed back then certainly - but iirc they only came thick and fast after the CASS switching system from September 2013.

My own view is that, post-covid, there will be a renewed effort by banks to gain customers - so I hope for several incentives then.  That's likely to be at least months away yet, and it may not be until 2021 when things really get going. If I'm correct of course!

planteria

sounds about right to me Zanderman.. i have ten accounts, and could drop down to three or four.. but i think i'll hang on to them all for now & see how things pan out.

surreysaver

planteria said:

with M&S  no longer offering regular savers with appealing rates.

2.75%? The best rate out there.

planteria

it may well be ss.. but now they've dropped below 5% i shan't bother.

badger09

planteria said:

it may well be ss.. but now they've dropped below 5% i shan't bother.

I said that when most of the 3% regular savers dropped to 2%. Didn't take me long to change my mind though