Bank account exchange vouchers: benefit or not?
Few people would change their bank account if it felt like a difficult task. Fortunately, today is quite simple. Some countries have automated systems that can transfer all their income and expenses between banks. Others have processes that allow you to configure redirects so you can transfer funds when you need them. Usually, it doesn’t require much effort on your part the banks want your order, so it will simplify it as much as possible for you.
Interest rates for new customers
Banks offer all kinds of rewards and bonuses to seduce you to get on board. Play your cards well and you can change accounts at regular intervals, taking advantage of each offer. Some accounts offer free cash as a bonus, as well as other rewards such as gift cards, or higher interest rates for new customers.
Are the banks losing?
Banks are becoming prudent with “serial switches.” Now, they are dividing the rewards to encourage you to stay longer. You could receive half of the reward after your first month, and the other half if you keep your account in regular use for one year. The more you use your account, the better things will be for banks.
Are exchange bonds good?
Free cash may sound like an incredible offer, but it can come with its disadvantages. Before switching to a new account, think carefully about what else the bank can offer. Do you have the best general interest rates? What do your current customers think of them? Remember that changing your bank account frequently can have a negative impact on your credit score, so it really has to be worth it. If you are not satisfied with your current bank, you may have nothing to lose. If you are going to exchange only for the gift, you may want to investigate a little more thoroughly.