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New Contract, Same Network, Keep No.

I'd like to stick with my "current" network - I'm one month out of contract - but was looking at doing a cashback deal through Topcashback on a new contract, whilst keeping my current no.

Somebody at work suggested swapping my current no. to a PAYG simcard, starting my new contract, then swapping original no. from PAYG to my new contract.

Has anybody tried this and how quickly could the whole series of no. swaps be completed?
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