Is it possible to play the system to earn Bonus's

martyfarty69

Hi

I had a quick thought and thought id share it and see what people think, I opened an A&L account on the recommendation of this site and received the Sign up bonus etc and like the idea of free money :rotfl: !!!
What do people think about opening 2 or 3 of these other accounts that offer the sign up bonus ( LTSB , First Direct for example ) not transferring any DD's or anything but say meeting the minimum paying in amount of £1000 by just transferring £500 in a couple of times a month , do people think that this could work, what would the Pro's and con's be, with LTSB for example do you HAVE to transfer your salary details, DD's etc to the account before they pay you the £50 bonus, or is it simply a case of meeting the minimum amount every month ?
Was thinking of operating the accounts for a few months and then shutting them down and just sticking with my A&L account.
It sounds like free money but i am probably missing something .

jonesMUFCforever

Banks are getting wise to this. LTSB 'member get member' finishes at end of March , thereafter to qualify for £50 you will have to pay a minimum of £1000 per month AND get your salary or account transferred using their Account transfer unit.

martyfarty69

Ok thanks, but if i apply for one and get accepted before the end of March then will i only have to meet the £1000 pay in criteria ?

Milarky

ejones999 wrote:

Banks are getting wise to this

It's an expensive way they're going about it though, ejones999.

jonesMUFCforever

Milarky wrote:

It's an expensive way they're going about it though, ejones999.

Can't help the muppets from the Ad depts of banks who think 'We'll bribe other banks customers to join us and then get miffed when other banks do the same' ! I really wonder if any bank has come out on top with these schemes as for every customer they gain the law of averages states that they lose an existing one.

jrb1221

Go for the First Direct one. £50 in about 3 weeks, and all you have to do its open the account, then with your account no and sort code, pay in £500 from your existing account. Within a few weeks, you'll have your incentive paid in, then just withdraw the lot (£550.03 (you get about 3p intrest too ammusingly)). The account closes automatically, and you don't need to swith anything or put your salary in. You just put £500 in and then take it out again!!

I did it first, then my partner did it. Same address, different names. No queries whatsoever from FD. Easy.

Anon

The potential problem with this is current accounts run credit checks on you - therefore you may affect your credit rating with too many searches in a short space of time. The account may stay on your credit reference report for up to 6 years (after closing) therefore at some point it may affect your ability to get another account (or other credit) in future.

That said, we moved to Cahoot a few years ago, signed up to Smile for the free wine a few years ago, First Direct last year for £50 and have recently signed up for Alliance & Leicester ... :rolleyes:.

Anon

Gorgeous_George

The only losers are the poor souls who pay overdraft fees. They will be charged more to ensure shareholders don't lose out and wouldn't be able to join in the game due to poor credit scores.

The winners are those who need the money least. I recommended my wife to A&L and the £100 paid for dinner on holiday. Easy come, easy go.


GG