What Next For Vantage Account?

BookerTee

As we know the vantage accounts will loose much of their appeal shortly. I was thinking of adding a couple of DD's and then switch to First Direct for the £100 bonus. Halifax and CoOp offer similar and all three would be £360 which is equivalent to £15000 @ 3% for a year as a basic tax payer but without having any real amount in the accounts. Has anyone done similar rather than just moving their main account?

YorkshireBoy

BookerTee wrote: »

Has anyone done similar rather than just moving their main account?

Always chasing the next easy £100, and currently doing M&S. Already done FD, Halifax (several times), and Co-op (several times). Next one will be Tesco all being well, depending on how they launch their current account later this year.

However, you should be doing this as well as getting the best return on your savings, not instead of (which is how your post reads).

And if you're going to the trouble of setting up 2 DDs on one of your Vantage accounts you may as well keep it and upgrade to Club. I see from another thread you already have a Club account.

BookerTee

When you say 'several times' what do you mean I thought they all stipulate you can only claim switching bonus once?
Most of the money in my current Vantage accounts would go elsewhere and not be switched.
Doesnt M&S only gave vouchers? what does Tesco's offer I havent seen that yet.
I though you could only have one club account per person?

YorkshireBoy

BookerTee wrote: »

When you say 'several times' what do you mean I thought they all stipulate you can only claim switching bonus once?

Things have tightened up now. FD always had the once only clause I believe. However, Halifax have only (relatively) recently introduced the 'since Jan 2012' condition. Co-op (and Nationwide, which I've also done several times) are still pretty lax...thankfully! Indeed, Nationwide have yet another refer-a-friend offer at the moment...and existing customers aren't ineligible.

Doesnt M&S only gave vouchers?

Yes it's a £100 gift card...but it all spends!

what does Tesco's offer I havent seen that yet.

They're launching a current account soon. It'll probably have a Clubcard points offer, but hopefully (and better) a cash incentive.

I though you could only have one club account per person?

In your own name, yes. But you can hold a joint account in addition to the sole account.

BookerTee

Just as a mater of interest but how long have you kept accounts open before closing to return??

As for M&S I dont spend there from one year to the next but that doesnt mean I cant spend £100 in the food/drink dept!! its just spending for the sake of it tho.

I will keep an eye on Tesco's

I dont have the option of a joint account so will have to spread funds. Really wish I had opened a second 123 account sooner :-(

YorkshireBoy

BookerTee wrote: »

Just as a mater of interest but how long have you kept accounts open before closing to return??

FD was, as I said earlier, once only.
Halifax...I've never left them. Each time they had an offer I switched some standing orders from another account. This was in the days before CASS though (probably why I have so many - at least 5 now - donor accounts at the ready).
Nationwide...Again, all my incentives were obtained as an existing customer.
Co-op...I held that too long last time. Only closed it last September when I switched it via CASS to Halifax. Then opened another in March and switched a redundant Nationwide FlexDirect to it.

As for M&S I dont spend there from one year to the next but that doesnt mean I cant spend £100 in the food/drink dept!! its just spending for the sake of it tho.

My dad shops there, and I'm at an age where their jeans fit me just right! And as you say, there's always something else you can buy.

Really wish I had opened a second 123 account sooner :-(

Ditto!

BookerTee

Can you confirm if the CASS process means the donor account has to be closed?

Archi_Bald

Yes it will be closed if you use the service. See Q16 of the Payments Council FAQ for the switching service. http://www.paymentscouncil.org.uk/switch_service/faqs/

MABLE

I have a Lloyds Bank account and was thinking about applying for the Halifax account for the incentive and £5.00 credit. Bearing in mind I am with Lloyds do they regard me as a new customer.

Any help appreciated.

thanks.

YorkshireBoy

MABLE wrote: »

I have a Lloyds Bank account and was thinking about applying for the Halifax account for the incentive and £5.00 credit. Bearing in mind I am with Lloyds do they regard me as a new customer.

Switching from Lloyds is OK. They only stipulate you can't receive the incentive if switching a Bank of Scotland account.

Any help appreciated.

T&Cs on their website here...

http://www.halifax.co.uk/bankaccounts/?WT.seg_3=Common/promotion/banking/hlinkb/bankin-bankaccn-lnkb-bankaccn00 (click "More information about the £100 switching offer")

MABLE

YorkshireBoy wrote: »

Switching from Lloyds is OK. They only stipulate you can't receive the incentive if switching a Bank of Scotland account.T&Cs on their website here...

http://www.halifax.co.uk/bankaccounts/?WT.seg_3=Common/promotion/banking/hlinkb/bankin-bankaccn-lnkb-bankaccn00 (click "More information about the £100 switching offer")

Thanks for that. However have just been counting my credit searches for the last few months and have one for Extraenergy two months ago, TSB C/A 7 weeks go and last week M and S bank C/A.

Bearing in mind the above do you think it would be wise the leave for a few months now.