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Kiwi Toast

Bank Switching Strategy

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Several banks offer £100 or so for switching. Does anyone have any thoughts or experience on how best to take advantage of as many of these offers as possible. Any thoughts on which to go for first and how long between switches?

Or are there reasons not to switch?

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Another common offer is to switch fund supermarket. Here I think you may be out of the market whilst the switch takes place, in which case you may decide the expected return during that period is bigger than the incentive payment, so it isn't worth switching.

I have an offer from my employer to get 1% cashback if I invest in an ISA, but I wonder what would happen if I switched (say to get an incentive payment from a fund supermarket) or sold "too soon."

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Yes that had occurred to me. How often do you think is too much though? Also if your credit rating is currently very good (say you can get the lowest mortgage rate) how likely is it your credit rating is worse but not so much as to push you over a threshold where you face higher rates?

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I suppose I just worry that life is too short to frequent several message boards. I used to go letsrun.com frequently but that has now been replaced by hpc. It's probably better to mostly write to myself here than risk going over the mse too much.

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