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Featured - Account Types
What type of savings account do you need?Find out about the different types of savings accounts available to suit a variety of needs.
Savings
ISAs
Residential
Buy to let
Specialist mortgages
Featured - Debt and your credit score
How debt impacts your credit scoreA healthy credit score has its benefits, so make sure you manage your debt correctly.
Loans
Featured - Life Insurance
Life InsuranceFor peace of mind that your loved ones will be supported financially after you die, consider taking our life insurance. Find out more and compare policies.
Home & vehicle
Health & travel
Featured - Switching deals
In need of a cash boost?Providers often entice new customers with cash incentives for moving current accounts. Compare deals and find out how to make the switch:
Current accounts
Featured - Purchase Cards
Best purchase credit cardsExplore the best cards with a 0% introductory period.
Credit cards
Credit repair
Calculators & guides
Business savings
Business products
Business insurance
How much can I give as a cash gift?
How much can I give as a cash gift?Will your loved one's gift be tax affected?
Categories
Featured guides
Popular news
Latest news - by category
Other money & finance news
Featured Star Ratings categories
Other Star Ratings categories
In the past week alone, two banks have introduced a cashback switching incentive on their bank accounts, which could be the start of increased switching competition among providers.
In total, now six providers offer an incentive to switch accounts, which compares to just two providers – M&S Bank and first direct – offering incentives at the beginning of August 2019. Indeed, NatWest and HSBC, Ulster Bank and Royal Bank of Scotland (RBS) have all introduced switching incentives during the last month.
Banks and building societies will offer customers an incentive, typically cashback, in return for them opening a bank account with the provider. Usually, to get the incentive, the customer has to meet the terms and conditions of the deal. NatWest, for example, has introduced a £150 cashback incentive for new customers who move their current account to the bank and opt for one of its standard or packaged accounts.
HSBC has introduced cashback incentives on three accounts. HSBC Premier Bank Account and HSBC Advance Bank Account both offer £175 to be paid into the opened account within 30 days of switching, while HSBC Bank Account offers £75, which is paid into the account within 30 days of switching.
Rachel Springall, finance expert at Moneyfactscompare.co.uk, said: “After a summer lull of switching cash incentives, it’s exciting to see the return of upfront perks from a variety of familiar brands in the market.
“If customers are tempted then they may not want to wait too long to switch, as cash perks can have a short life span and be pulled without much notice. However, it is important that consumers check the whole package of a current account before they switch to ensure they choose the right deal for them and not be dazzled by the upfront cash alone.”
Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfactscompare.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
The latest annual Post Office Travel Money Long Haul Holiday Report, in partnership with long haul specialist, Travelbag, has revealed the sometimes shocking local prices charged for 10 common expenses for travellers.
The latest annual Post Office Travel Money Long Haul Holiday Report reveals the sometimes shocking local prices charged for 10 common expenses
With just a few weeks left until the new university semester begins, it is vital for students to take a time out to find a competitive student account
With just a few weeks left until the new university semester begins, it is vital for students to take a time out to find a competitive student account
NatWest will be piloting new technology that will enable its customers to bank from home using just their voice, the bank has revealed
NatWest will be piloting new technology that will enable its customers to bank from home using just their voice, the bank has revealed
The latest annual Post Office Travel Money Long Haul Holiday Report, in partnership with long haul specialist, Travelbag, has revealed the sometimes shocking local prices charged for 10 common expenses for travellers.
The latest annual Post Office Travel Money Long Haul Holiday Report reveals the sometimes shocking local prices charged for 10 common expenses
With just a few weeks left until the new university semester begins, it is vital for students to take a time out to find a competitive student account
With just a few weeks left until the new university semester begins, it is vital for students to take a time out to find a competitive student account
NatWest will be piloting new technology that will enable its customers to bank from home using just their voice, the bank has revealed
NatWest will be piloting new technology that will enable its customers to bank from home using just their voice, the bank has revealed
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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.