Harvesting Bank A/C switching incentive and switch back ...

adindas

Harvesting Bank A/C switching incentive..
In some banks there is sometimes switching incentive £100/£50 offer with condition of
- Switching 1SO and 1DD (some banks requires 2dd 2so) using their switching team , the bank a/c does not need to be closed. I am not aware a bank required.
- -The SO and DD need to active for say 3 month.
To comply with the requirement, I normally use DD from Credit Card that I rarely use for obvious reason. It is easy to control as you could also see it directly from the CC online banking. You could also set up DD directly from there.
What happen after harvesting the switching, incentive, we switch it again all DD and SO to the initial bank a/c and this will be ready to take action when there is another switching incentive come to the markets. Do you think there is any damage here that I have not thought?
I have not tried it by myself do not know about this, so if someone could shed the light it will be great.

YorkshireBoy

adindas wrote: »

the bank a/c does not need to be closed.

Be sure to read the small print! NatWest closed my old LTSB account as part of the switch (for £100, but they accidentally paid me £150 ). My fault entirely as I'd missed it in the paperwork they sent me to sign.

I normally use DD from Credit Card that I rarely use

That's my approach too, along with a couple of SOs and a bill payment or two.

Do you think there is any damage here that I have not thought?

I've never experienced any...and I've done a few switches.