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Bank of Scotland/Halifax £5s
kriss_boy
Posts: 2,131 Forumite
Do you reckon Id be committing some form of fraud if I were to leave the my 3 bank of scotland current accounts open, purely to cascande £1000 through them each month for the £5s?
I moved banks 6 months ago but our pays kept going into the old accounts.
Now Id like to move our pays to the lloyds account... so Id be blatantly scamming £15 a month just by automating a £1000 lump going through the accounts...
I moved banks 6 months ago but our pays kept going into the old accounts.
Now Id like to move our pays to the lloyds account... so Id be blatantly scamming £15 a month just by automating a £1000 lump going through the accounts...
0
Comments
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No fraud.
Just a case of complying with the T&Cs.
Which I assume require two active direct debits.0 -
Not sure what fraud you could be committing if you stick to the T&Cs? There are also no laws that specify how many current accounts you can have, and how often / how much of your own money you are allowed to transfer between your own accounts. So not fraud there either.0
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opinions4u wrote: »No fraud.
Just a case of complying with the T&Cs.
Which I assume require two active direct debits.
The 2 DDs are of course only required if you want to get the monthly fiver. Alongside the £750 monthly deposit.
It seems kriss_boy might not be 100% up-to-date with the T&Cs (which have been discussed to death on here already).0 -
If the DDs weren't in place in April the accounts might have been downgraded already."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0
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