Loyalty?

wellers

Does loyalty to a particular bank get rewarded any more these days? (That's assuming it ever did in the first place...)

I have had savings accounts with Halifax since I was part of the Little Xtra Club many moons ago but they're not paying me fantastic interest so have moved some of the money to B&B (after all they sponsor my beloved Bradford City so maybe it's time for a spot of payback).

I'm contemplating winding up my Halifax accounts but don't know whether it's worth holding onto some association with them, as at this point being a student whether they'll be nicer to me if i want a mortgage in however much time that is? Or whether given the competition for everything there's no point being loyal to anyone where your money's involved?

charlieboycat

Speaking from personal experience, loyalty gets you nowhere except in the event of a building society demutualisation. And that's not in point with the Halifax.

mdb99jh

I think that in fact the opposite is true. Be a bank tart and always get the best rates!

IvanOpinion

The only time loyalty gets you anywhere is if they are desperate to get you to stay ... otherwise keep that money moving ... sometimes a little minor inconvenience can pay dividends in the long run. I wouldn;t necessarily close the account unless you have to .. you never know when you might want to go back

Ivan

Robert_Sterling_3

A loyal member is one who does not maximise their income by cherry picking their bank accounts, building society accounts and credit cards accounts.

The opposite of a loyal members is an astute member.

This website is a conversion course which helps loyal members to become more astute.

flossy_splodge

I absolutely agree with all preceding posts! There is particularly little point in loyalty to the Halifax, they definitely do not value long standing customers by favouring them in any way.
Go chase the rates and good luck.