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UK based neobank Starling net gained 17,769 accounts via the national account switching service in the period April and June 2021. In contrast, Santander net lost 10,965 accounts. Of note, some of the leading winners offered strong incentives during the period, and these deals can change over time.
'Virgin Money's case of wine incentive was something a little different from the standard cash handouts - it appears that this was a big hit looking at the latest switching data...Starling Bank continues to post impressive switching numbers without the need to offer incentives, it's been making stellar gains in the last three quarters, beating its rival neo bank Monzo by a considerable margin," said Andrew Hagger, personal finance expert at MoneyComms.
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