Any banks I can switch to and get some free cash?

liamcov

Are there any banks doing a switching promotion where they pay you £50 etc? Also any other good deals such as Halifax's £5 interest?

One question with the Halifax, can I just deposit £500 from my other account on say the 10th then send it back there on the 15th and keep doing this every month or does it have to come from an employer?

scottishblondie

As long as your total deposits into a Halifax Reward account total £1000 per month they don't seem to care where you get it from.

There are several banks offering switching incentives at the moment, ones that spring to mind are Nationwide (£75) and A&L (£100). However these the banks, esp A&L, seem to be using every excuse in the book not to pay out these incentives so I wouldn't count on the cash.

On a side note, I didn't want to switch my current account so I opened a Premier Direct account with A&L thru Topcashback to get £45 cashback, and a nice place to stash 2.5k at 6%. Not as much as the switching incentive, but decidedly less stressful!

MoodyBlues

I have an A&L account. I got the £100, but for the trouble it has caused me so far I don't think it's worth it. You really need to be on the ball about your direct debits dates etc that you've transferred over or you risk getting charges for late payments from the companies you've transferred your direct debits from.
I've caught one problem already but managed to pay it with one of my other accounts. I'm keeping an eye on it, but I never had a problem with Halifax current accounts.
I also have 2 reward accounts that I have been getting £10 a month from.

anna42hmr

some also pay cash back if you open online via a cash back site for example quidco

RichyRich

With A&L you can get £50 though QUidco in addition to £100 for switching directly from A&L.

stella2009

liamcov wrote: »

Are there any banks doing a switching promotion where they pay you £50 etc? Also any other good deals such as Halifax's £5 interest?

One question with the Halifax, can I just deposit £500 from my other account on say the 10th then send it back there on the 15th and keep doing this every month or does it have to come from an employer?

First Direct are offering £100 if you switch to them. Then if you don't like them after a certain amount of time they will pay you a further £100 to leave!!

I don't think you would leave though ;-)

rb10

Some people have reported on here that they've been able to get a cash payment for opening Halifax accounts in branches ... but it's not widely advertised, so may be worth enquiring at your local branch.

This is in addition to the £5 per month - that bit is guaranteed, provided that a total of £1k is paid in per month.