Switching current account question

QuickQ_2

Sorry if this has been answered 100+ times, but does someone know the fine detail behind the following current account requirements:

1) Does Lloyds Vantage need a real salary from employer (through BACS) into at least one of your accounts to get the full interest?
2) Does First Direct £100 bonus need a real salary from employer, or can I set up a standing order from myself at a different bank?
3) Does Santander £100 bonus need real salary?

I currently have 3 LLoyds Vantage with salary paid into one, then £1000 cycled 1->2->3->1. This works just fine, but I don't know if it's only because the first gets a real salary, and would stop working if I transferred my salary somewhere else.
It looks like FD have the stricter requirement, so I was thinking of switching one of the Lloyds account to FD, then transferring my salary to FD, then setting up SO back to Lloyds to cycle through the accounts.

Thanks!

missile

I can confirm Lloyds TSB vantage does not need a salary any £1000 payment counts. You can even cycle from one LTSB account to another and back.

If you are happy with LTSB I would suggest opening accounts with First Account and Santander for £100 bonus hardly seems worth the hassle IMHO. Watch out for penalty charges from Santander if you break one of their many rules.

QuickQ_2

Thanks for the quick reply missile!
Just got married, so looking to set up a new joint account - otherwise I take your point about avoiding all the hassle...

If anyone knows whether First Direct £100 bonus requires a salary paid in through BACS or not, I'd would be very grateful?

R34GTT

QuickQ wrote: »

Thanks for the quick reply missile!
Just got married, so looking to set up a new joint account - otherwise I take your point about avoiding all the hassle...

If anyone knows whether First Direct £100 bonus requires a salary paid in through BACS or not, I'd would be very grateful?

I switched to FD in September, I just transferred in the £1500 minimum and qualified for the £100 after 28 days.