Multiple Current Accounts

adindas

Any bank will ask to do full switching with at least 2DDs and/or 2SOs in order to get incentove. You can not cherry pick DD or SOs you want to select with full switching

King_Weasel wrote: »

I believe you can get the 5% from Santander just by paying in £1000/month. To get the cashback you also need to switch at least 2 DDs or SOs. But I believe you also need to use their switching service. I presume therefore that you cannot SELECTIVELY transfer DD/SOs from another account.

If I've got any of this wrong can someone please tell me. Thanks.

King_Weasel

adindas wrote: »

Any bank will ask to do full switching with at least 2DDs and/or 2SOs in order to get incentove. You can not cherry pick DD or SOs you want to select with full switching

Thanks. I don't trust Santander to take over all my DDs so I've set up 2 SOs on another a/c. I can then switch these SOs to Santander and leave my main bank safely out of the picture.

Mikeyorks

King_Weasel wrote: »

I believe you can get the 5% from Santander just by paying in £1000/month.

Indeed. But what is the point of 5% if you don't leave cash in the account? The Halifax one pays you £75 gross (£60net) simply for making a £1k credit each month. You don't need to keep a balance as such. But you need an average balance of £1500 with Santander to create the same effect.