MSE News: Santander launches cashback current account

Scrounger

Both Quidco and TCB have tracked (within 24-hours of applying) for two 123 accounts for the Scrounger household. :beer:
Scrounger

anselld

Scrounger wrote: »

Both Quidco and TCB have tracked (within 24-hours of applying) for two 123 accounts for the Scrounger household. :beer:
Scrounger

Whats the point in two accounts ( except the cashback )?
You will be paying two lots of fees.

Zandoni

I haven't read all of this thread so apolgies if this has already been said.

I believe the whole point of this account is to get people used to a monthly fee. I bet that after a while the monthly fee will increase and the cash back etc will slowly disappear. So before you know where you are you are happily paying a monthly fee without any benefits.

Scrounger

anselld wrote: »

Whats the point in two accounts ( except the cashback )?
You will be paying two lots of fees.

I was waiting for somebody to ask that....

My plan is to close one account after cashback paid and then consolidate all bills qualifying for cashback (for two houses) into the remaining 123 account.

I shall then continue to fund this 123 with £500/month to cover the bills from my main FD current account.

13 Halifax reward accounts and 3 reward credit cards bring in a further £80/month. :beer:
Scrounger

Ultrasonic

Scrounger wrote: »

13 Halifax reward accounts...

13!!! How on Earth did you manage that? Surely they must have some sort of checks to stop people doing this?

Scrounger

Ultrasonic wrote: »

13!!! How on Earth did you manage that? Surely they must have some sort of checks to stop people doing this?

I've included family members in that figure, but I do the monthly £1000 shuffles (x13).

Scrounger

stewil18

Scrounger wrote: »

I've included family members in that figure, but I do the monthly £1000 shuffles (x13).

Scrounger

I've always wondered about this, how 'legal' is it to do this - i'm assuming there is no issue but the fact you are controlling accounts not in your name might raise questions? I guess what i'm getting at, is if your family is large enough then is there anything stopping you raking in a lot of money from minimal investment.

as it stands from 13 accounts you would get £780 return a year from £1000 - cant see too many other opportunities to do this except down at the local casino and betting it all on black

Scrounger

I wish I had 1000 accounts and then I could give up my job. :beer:
In for a penny, in for ten pounds!

Scrounger

Jammi

I've just applied for this account via quidco for the £55 cashback. It's already showing in my online accounts alongside my redundant and soon to be closed "PICR" current a/c. Just waiting for quidco to track now.

coming a few days after my £200 Co-Op payout, its not just the bankers raking in the bonuses, the customers are also in on the act. Happy days.:D

leoncub

If you are an existing Santander customer and wanting to switch to the new 123 account (like me), they told me on the phone yesterday that they are experiencing "nationwide problems" so they won't be able to switch anyone until maybe today (Tuesday) but probably tomorrow.

They didn't elaborate on what the mysterious "nationwide problems" are though!