MSE News: Total number of bank switches dropped in 2016 - earn £100+ by switching

Legacy_userLegacy_user Forumite
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Fewer than 2% of the UK's 70 million active personal current accounts were switched in 2016, the latest figures show...
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'Total number of bank switches dropped in 2016 - you can earn £100+ by switching'
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  • JuicyJesusJuicyJesus Forumite
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    Not especially a surprise as the range of banks offering switching bonuses is pretty low and the number of people who haven't had them before and therefore qualify is probably low as well.

    Also, ironically, I'd wager quite a few people have switched thinking (as Mr Lewis so delightfully puts it) that their "bank's a b*stard" and then discovered that in reality they're all much of a muchness.
    urs sinserly,
    ~~joosy jeezus~~
  • PeacefulWatersPeacefulWaters Forumite
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    Santander's fee increase to a fiver probably delivered that reduction single handedly.
  • JuicyJesusJuicyJesus Forumite
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    Santander's fee increase to a fiver probably delivered that reduction single handedly.

    Yup. They're even further off my "potentials" list with that one.

    And frankly, Co-op and Halifax combined pay me £7+ a month without having to pay a fee; being a renter whose household bills are relatively minimal I struggle to see how the 123 account helps me in any way.


    Already been with FD, already been with Co-op, had the incentive off Halifax, M&S don't want me, TSB won't pay incentives for joint accounts (and I don't want to do all the admin around making my joint account sole) therefore no bonuses for me and no point switching.
    urs sinserly,
    ~~joosy jeezus~~
  • AnthornAnthorn Forumite
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    I tried to keep it going by switching three times during 2016 but it just wasn't enough :D

    TSB -> Lloyds -> B but additionally I'm keeping Natwest for the rewards and my credit history.
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