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First Direct ups the current account switching stakes with £125 bribe dailymail.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymail.co.uk Daily Mail and Mail on Sunday newspapers.
The current account switching battle is simmering away with HSBC now offering a £20 Uber Eats takeaway bribe on top of its £125 cash incentive. This latest move to offer a total of £145 worth of incentives could be a play to attract a younger generation of current account customers, many of whom have been tempted in by new digital-only banks such as Monzo and Starling. Extra tasty? HSBC could be looking to attract some younger switchers with its Uber Eats voucher Latest current account switching figures show that between 1 July and the end of September, it hemorrhaged a net 14,863 current account customers who used CASS to head to pastures new – of this figure, it gained 5,998 switchers, but lost 20,861. ....
Adrian Boulding: Advisers must prepare for negative interest rates By Adrian Boulding 12 th March 2021 8:25 am Bank of England governor Andrew Bailey has told banks and building societies to brace for negative interest rates, potentially as soon as August. The Bank made it clear this could happen if the economy did not bounce spritely back as Lockdown 3 was eased. We already have negative rates in pensions. The lower-bound illustrations our systems produce for providers and platforms assume negative rates. However, a negative Bank base rate would see retail banks and building societies being charged by the Bank of England for holding their excess cash deposits for safe keeping. What will be the knock-on effects of this for clients? ....