Bank switching recommendations

Many current accounts offer perks that directly relate to either your balance or your monthly spending. Eg some give you a cash bonus, interest on your balance or cash back on certain categories of payment.

When combining these offers it can be hard to see which bank account gives the best benefit - 3% cash back on bills is great, but based on your own spending, is it better than 1% interest on your balance? Or is a switching cash bonus better than either?

Given Emma knows all your own finance data and websites like MSE regularly update lists of the current deals, Emma could tell me what I’d gain monthly or yearly on each account based on current or historical data. Aside from being a good feature, banks likely pay referral fees so it acts as revenue generation for Emma.

This is actually cute. I think current accounts switching is a direction we might want to take in the future. At this point, we don’t have any plans and grabbing the offers might be a bit challenging, but why not keeping it in our wish list. :wink:

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Thanks; in terms of managing the list, this could be aided by the community - create a JSON representation of the data and manage it in a GitHub repo, then people can just PR their corrections (and include a “correct as of” date in the object for each bank offer).

The process is likely more data intensive and not constantly used, so people could request the service and they get pinged in a few minutes when the numbers have been crunched.