Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24
How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - 17th Feb 24
Why Rising Shipping Costs Won't Cause Inflation - 17th Feb 24
Intensive 6 Week Stock Market Elliott Wave Training Course - 17th Feb 24
INFLATION and the Stock Market Trend - 17th Feb 24
GameStop (GME): 88% Shellacking Yet No Lesson Learned - 17th Feb 24
Nick Millican Explains Real Estate Investment in a Changing World - 17th Feb 24
US Stock Market Addicted to Deficit Spending - 7th Feb 24
Stocks Bull Market Commands It All For Now - 7th Feb 24
Financial Markets Narrative Nonsense - 7th Feb 24
Gold Price Long-Term Outlook Could Not Look Better - 7th Feb 24
Stock Market QE4EVER - 7th Feb 24
Learn How to Accumulate and Distribute (Trim) Stock Positions to Maximise Profits - Investing 101 - 5th Feb 24
US Exponential Budget Deficit - 5th Feb 24
Gold Tipping Points That Investors Shouldn’t Miss - 5th Feb 24
Banking Crisis Quietly Brewing - 5th Feb 24
Stock Market Major Market lows by Calendar Month - 4th Feb 24
Gold Price’s Rally is Normal, but Is It Really Bullish? - 4th Feb 24
More Problems in US Regional Banking System: Where There's Fire There's Smoke - 4th Feb 24
New Hints of US Election Year Market Interventions & Turmoil - 4th Feb 24
Watch Consumer Spending to Know When the Fed Will Cut Interest Rates - 4th Feb 24
STOCK MARKET DISCOUNTING EVENTS BIG PICTURE - 31st Jan 24
Blue Skies Ahead As Stock Market Is Expected To Continue Much Higher - 31st Jan 24
What the Stock Market "Fear Index" VIX May Be Signaling - 31st Jan 24
Stock Market Trend Forecast Review - 31st Jan 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

The Battle for the UK Current Bank Account Switcher

Portfolio / UK Banking Jan 17, 2012 - 11:42 AM GMT

By: MoneyFacts

Portfolio

Moneyfacts research has shown that there has been an increasing amount of switcher incentives introduced in the last few weeks.

High street lenders including Halifax, HSBC and Santander have all launched deals to attract new customers, offering a cash payment or interest-free overdrafts.


In light of this customers need to be aware of the current switching deals on offer when assessing whether to move their main current account as well as all other features to decide if it is suitable.

This table shows the current switcher incentives on offer from some of the main lenders.

Lender

Account

Switcher cash payment

Switcher interest free authorised overdraft

Switcher AER credit interest

Barclays Bank

Bank Account

-

0% for 12 months

-

first direct

1st Account

£100 paid in 3 months

-

-

Halifax

Reward Current Account

£100

Interest and fee free for 120 days

-

HSBC

Bank Account

£10 if any direct debit missed

0% for 12 months

6% for 12 months

Nationwide Building Society

FlexAccount

£100*

0% for 3 months

-

Santander

Preferred Current Account

Up to £300

Interest and fee free for 12 months

5% for 12 months

The Co-operative Bank

Current Account

-

0% from January to April 2012

-

*Payable if all Direct Debit companies not contacted within 10 working days.

Rachel Springall, spokesperson for Moneyfacts.co.uk, said:

“While it’s good to see lenders offering customers some exciting incentives, customers looking to move their main account have to assess all the areas to decide if it’s appropriate for them.

“When choosing a current account, customers need to decide its main purpose, whether it is for earning interest, an overdraft they can dip into at a low cost as well as considering the incentive package.

“Those already looking to move their current account could also be rewarded with a cash injection.

“Switcher offers tend not to stay around for long, so customers need to consider whether it’s a good time to move and if so, act quickly.”

www.moneyfacts.co.uk - The Money Search Engine

Moneyfacts.co.uk is the UK's leading independent provider of personal finance information. For the last 20 years, Moneyfacts' information has been the key driver behind many personal finance decisions, from the Treasury to the high street.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in