# Bank Switching Stats

**URL:** <https://community.emma-app.com/t/bank-switching-stats/4482>\
**Category:** Bank Accounts\
**Created:** [July 29, 2021, 9:57am UTC](https://community.emma-app.com/t/bank-switching-stats/4482 "2021-07-29T09:57:57Z")\
**Posts on this page:** 6\
**Page:** 1

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**Author:** ![rebekah](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/rebekah/32/1091_2.png) [@rebekah](https://community.emma-app.com/u/rebekah)\
**Post date:** [July 29, 2021, 9:57am UTC](https://community.emma-app.com/t/bank-switching-stats/4482/1 "2021-07-29T09:57:57Z")

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I’ve just seen this interesting analysis of bank switches on LinkedIn- Starling and Virgin Money topped the switching stats, while Natwest, Santander, and TSB took a big hit!

I can understand why Starling might be at the top, but Virgin Money did kinda surprise me. Does anyone know why they might have ranked so highly for number of switches?

 ![Screenshot 2021-07-29 at 10.43.02](https://canada1.discourse-cdn.com/flex030/uploads/emma_app/original/2X/f/f0c51e8b7d3b9a1d851a26c953a92d8f2d3c7549.jpeg)

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**Author:** ![JimmyJ](https://avatars.discourse-cdn.com/v4/letter/j/839c29/32.png) [@JimmyJ](https://community.emma-app.com/u/JimmyJ)\
**Post date:** [July 29, 2021, 12:21pm UTC](https://community.emma-app.com/t/bank-switching-stats/4482/2 "2021-07-29T12:21:08Z")

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Virgin does have a 2% (2.02%) interest on the first £1000 in the account which is probably higher than many at the moment. The £150 gift card they offer helps somewhat too.

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**Author:** ![rebekah](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/rebekah/32/1091_2.png) [@rebekah](https://community.emma-app.com/u/rebekah)\
**Post date:** [July 29, 2021, 3:38pm UTC](https://community.emma-app.com/t/bank-switching-stats/4482/3 "2021-07-29T15:38:52Z")

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Oh really! I can see how that might encourage people to switch over then!

Were there any names on the list that surprised you? Either number of gains or loses?

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**Author:** ![Gaoler](https://avatars.discourse-cdn.com/v4/letter/g/71e660/32.png) [@Gaoler](https://community.emma-app.com/u/Gaoler)\
**Post date:** [July 29, 2021, 11:04pm UTC](https://community.emma-app.com/t/bank-switching-stats/4482/4 "2021-07-29T23:04:10Z")

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It’s all a fiction. I use switches to Starling to close old accounts - much easier than actually closing. Planning to switch at least three accounts this month. A lot is explained by incentives too. Roughly equal switching in and out also strongly suggests strategic switching… So, complete nonsense really

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**Author:** ![rebekah](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/rebekah/32/1091_2.png) [@rebekah](https://community.emma-app.com/u/rebekah)\
**Post date:** [July 30, 2021, 10:15am UTC](https://community.emma-app.com/t/bank-switching-stats/4482/5 "2021-07-30T10:15:48Z")

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> [@Gaoler](#):
>
> Planning to switch at least three accounts this month. A lot is explained by incentives too.

This is interesting - so do you keep an eye on all the switching offers/ cashback/ interest rates etc and regularly make it a thing to switch accounts?

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**Author:** ![Gaoler](https://avatars.discourse-cdn.com/v4/letter/g/71e660/32.png) [@Gaoler](https://community.emma-app.com/u/Gaoler)\
**Post date:** [July 30, 2021, 12:58pm UTC](https://community.emma-app.com/t/bank-switching-stats/4482/6 "2021-07-30T12:58:29Z")

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I do a carousel from time to time, but there’s nothing for me at the moment. I was keeping Tesco and hsbc accounts for that, but hey are now dormant or being closed. It’s just tidier to switch them