best sacrificial account

Archi_Bald

ChrisVonae wrote: »

Ah I apologise..

In that case, any provider will do but most switch bonuses are paid on a 'full switch' and as part of that, at least 2 DDs or Standing Orders need to be switched to be eligible.. So a sacrifice account would have to have 2 DDs set up on it and they'd have to be moved each time too..

All direct joining bonuses have required a full switch since the 7-day switching service came onstream last September. Only the Coop still requires 2 DDs or SOs, FD / Halifax/ M&S have no such requirement.

YorkshireBoy

ChrisVonae wrote: »

In that case, any provider will do but most switch bonuses are paid on a 'full switch' and as part of that, at least 2 DDs or Standing Orders need to be switched to be eligible.. So a sacrifice account would have to have 2 DDs set up on it and they'd have to be moved each time too..

Or SOs.

Zkr65

Feels like being in a playground here, surely we are all trying to help? Yes.. some providers don't need 2 DDs to be switched, lots of the main providers do.. I mention this as otherwise OP goes through the switch, wonders why he hasn't got the bonus, then to be told DDs need to be switched..

FD seems heavily endorsed on MSE bemusingly. But COOP are not the only ones..

Santander for example require 2 DDs for any of their switch incentives.. others have the criteria of it being a 'main account' which if you dig deeper requires wages on or DDs etc to be set up..

But regardless, I can see that any attempt to offer another angle or consideration on this is just going to go off on a tangent.. I don't have time in my life to argue the point on forums. I thought (clearly misguided) that such forums were designed to assist with issues.. offer other perspectives or alternative thoughts etc.. rather than this.

YorkshireBoy

ChrisVonae wrote: »

Feels like being in a playground here, surely we are all trying to help? Yes.. some providers don't need 2 DDs to be switched, lots of the main providers do.. I mention this as otherwise OP goes through the switch, wonders why he hasn't got the bonus, then to be told DDs need to be switched..

FD seems heavily endorsed on MSE bemusingly. But COOP are not the only ones..

Santander for example require 2 DDs for any of their switch incentives.. others have the criteria of it being a 'main account' which if you dig deeper requires wages on or DDs etc to be set up..

But regardless, I can see that any attempt to offer another angle or consideration on this is just going to go off on a tangent.. I don't have time in my life to argue the point on forums. I thought (clearly misguided) that such forums were designed to assist with issues.. offer other perspectives or alternative thoughts etc.. rather than this.

I'm up early in the morning so I'll leave Archi to correct the many inaccuracies in this post.

Zkr65

YorkshireBoy wrote: »

I'm up early in the morning so I'll leave Archi to correct the many inaccuracies in this post.

I apologise for trying to help YorkshireBoy. The end of the day, my point was to make sure the research is done.. checking the T&Cs.. as providers can/have done things similar to what I've mentioned.. I did not state that this is true in all cases, just worth considering rather than assuming nothing will go wrong in the world of switching in and out non stop to reap the benefits..

Clearly I was misguided in coming on MSE, and thusly will deactivate my account to save yourself from those sleepless nights of retorts and arguments..

Archi_Bald

Alright, since I have been given the job by YB, here we go:

ChrisVonae wrote: »

surely we are all trying to help?

yes, that's why we are pointing out inaccuracies if we come across any. I reckon you would do the same?

ChrisVonae wrote: »

some providers don't need 2 DDs to be switched, lots of the main providers do..

as I posted a few minutes ago, from the banks offering direct joining bonuses only the Coop still requires 2 DDs or SOs, FD / Halifax/ M&S have no such requirement. Nobody else has direct joining bonus offers at present.

Offers via cashback sites are only available for Santander and Nationwide. Neither of them requires any DDs or SOs to be switched. Nationwide have some wooly requirement about it needing to be somebody's "main account", without providing any definition of "main account".

So which ones are the 'lots of the main providers' you say require 2 DDs?

ChrisVonae wrote: »

I mention this as otherwise OP goes through the switch, wonders why he hasn't got the bonus, then to be told DDs need to be switched.

if you look back over the forum, you will see reference to the T&Cs over and over again. Anyone relying on a forum for T&Cs only has themselves to blame.

ChrisVonae wrote: »

Santander for example require 2 DDs for any of their switch incentives

I can't find any T&Cs that say so. Please could you post a link?

ChrisVonae wrote: »

.. others have the criteria of it being a 'main account' which if you dig deeper requires wages on or DDs etc to be set up.

The only one I am aware of with a "main account" clause is Nationwide. As I said, there is no definition of what a main account is, and to be honest, I can't see how they would police people's use of accounts (nb. I have 6 Nationwide current accounts, and I am sure Nationwide have no idea which one my 'main' account is)

ChrisVonae wrote: »

But regardless, I can see that any attempt to offer another angle or consideration on this is just going to go off on a tangent

It is not so much about other angles, it's really all about facts and experience. Many of us here have actually done the switches, and received our bonus money / vouchers. Everybody who provides correct information is welcome, and everybody normally welcomes when they are being corrected when they made the occasional mistake. As there are many experienced users on the forum, inaccuracies do get pointed out very quickly by one or the other fellow poster.

B_G_B

Archi_Bald wrote: »

Nationwide have some wooly requirement about it needing to be somebody's "main account", without providing any definition of "main account".


The only one I am aware of with a "main account" clause is Nationwide. As I said, there is no definition of what a main account is, and to be honest, I can't see how they would police people's use of accounts (nb. I have 6 Nationwide current accounts, and I am sure Nationwide have no idea which one my 'main' account is)
I

Must agree that the term “Main account” could mean different things to different people, so from that viewpoint is wishy-washy. Nationwide however do give their own definition tucked away in some of their bumph. The following is copied from one of their Flexclusive products. (Bold is mine)


To be eligible to apply for a Flexclusive ISA you must be a main current account holder, this means that you must either:

Hold a FlexAccount with a Visa debit card (not cash card or cash card+) and:
Have been paying in £750+ a month (excluding internal transfers) for the last 3 months;
or
Complete an account switch to us (from a non-Nationwide account) using our Current Account Switch Team or have done so in the last 4 months;
or
Hold a FlexDirect or FlexPlus account

Archi_Bald

You are right, they do have that definition for the FlexClusives - though not for the joining bonus which we are discussing here. All they say, for their FlexDirect and FlexAccount, is:

Cashback will only be paid to customers who take out the product and transfer to it as their main account.

http://www.quidco.com/nationwide-flexdirect-current-account/
http://www.quidco.com/nationwide-flexaccount/

The FlexPlus does not have any switch requirement. http://www.quidco.com/nationwide-flexplus-current-account/

B_G_B

Archi_Bald wrote: »

You are right, they do have that definition for the FlexClusives - though not for the joining bonus which we are discussing here. All they say, for their FlexDirect and FlexAccount, is:


http://www.quidco.com/nationwide-flexdirect-current-account/
http://www.quidco.com/nationwide-flexaccount/

The FlexPlus does have any switch requirement. http://www.quidco.com/nationwide-flexplus-current-account/

Fair comment.