taking advantange of the banks

cjjhbn

i have a bank account with santander would it be possible to say open a first direct account for the £100 to fund that account set a standing order of £1500 from my santander account the from the first direct account transfer £1000 to the halifax to get there £100 joining fee then £5 per month there after then transfer the £1000 back from halifax to the santander account to start the process every month would that be possible?

cjjhbn

any ideas guys

happypod1

Yes it's fine to just move the money from bank to bank in order to meet the terms and conditions for amount credited per month! You would need to use their account switching service though to move some standing orders/ direct debits accross to the new account.

cjjhbn

thanks for the reply but as i dont have any direct debits just a couple of standing orders to my children account do you think that would be ok?

YorkshireBoy

I suggest you read the T&Cs (for both switching incentives and £5 Rewards) for your chosen accounts.

These will answer all your questions, and save repeating advice given on the numerous other threads on the same subject (which may be found using the search tool top right of your screen).

cjjhbn

will do in future