Value of incentives for current account switching in the UK 2016, by provider

This statistic illustrates the value of selected current banking account switching incentives on the market in the United Kingdom (UK) as of June 2016, broken down by provider. It can be seen that the largest current account switching incentive offered reached a value 150 British pounds at that time, with three providers offering this switching incentive: Yorkshire Bank, Clydesdale Bank and HSBC. Although this is the case, if the extra 50 British pounds offered by HSBC** were to be included, then HSBC alone would offer the largest switching incentive of the selected providers, at a total value of 200 British pounds, at that time.

Value of selected current banking account switching incentives on the market in the United Kingdom as of June 2016, by provider

Switching incentive in GBP
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Source

Release date

June 2016

Region

United Kingdom

Survey time period

June 2016

Supplementary notes

*data for 2015.
**The source states: "With the HSBC incentive a further £50 is paid after 12 months if the customer registered for online banking within 60 days of account opening, is still a current account customer and has met all account conditions in the intervening period."

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