Man of Honour
Sadly their interest rate on the current account and linked savers is too low.
Lloyds is higher than Santander isn't it? Admittedly only up to 5k on the current.
Sadly their interest rate on the current account and linked savers is too low.
Hmm perhaps I do need to look into this then. 1000 in 24 months is pretty amazing^
Provided you don't need to apply for credit/loans/mortgages any time soon. Otherwise turning over 10 current accounts in 24 months looks a bit odd.
You don't turn them over, only the first direct one offers money on leaving, so that's the only one you would look at closing.
The others you mainly earn that amount of money from the interest on the account, so you need quite a bit to start with to max out the limits (like ~£40k)
I've earned over £1000 in the last 24 months by switching bank accounts.
My main current account (the one my salary is paid into and real direct debits come out of) hasn't changed once in this time.
Hmm, yea, I didn't think there were £1000 worth of switch incentives out there, but maybe there is if you look at the smaller/more obscure banks like Clydesdale, M&S etc
I didn't realise you can do it with second "current account" bank accounts. For example Halifax will give you the bonus if you move a current account from somewhere else even if you do it to set up a second "current account".
I left FirstDirect about 18months ago and it's one of the best things I've done. So much better off with Santander. The support is great and we get a chunk of cashback (about £100) every month.
What went wrong?
I have found their CS to be flawless. They impress me every time I call them.
Their CS is great, but I called them maybe once every 6 months. They didn't provide much of an incentive to stay vs getting £100 a month from Santander.
Also, I've called Santander maybe 2 times and have not had a single issue.
Your post indicated they had caused you problems, not just because they did not offer you money to stay!
2 calls and not a single issue is hardly a measure of competency either.
Unless they have made significant improvements over the last 2 years I would not touch them with a bargepole, £100 or not.
They have lost cheques of mine on more than one occasion worth way more than that.
I've been with Natwest for years. Don't know why though, I've never received any loyalty rewards. My friend who uses Nationwide always seems to be getting freebies.
I have been considering moving to that santander account with 3% interest on the balance.
Do it, took me about ten minutes. We have two 123 accounts now, easy money.