Bank Switch Incentives

ffacoffipawb

I have made an easy £200 in the last month - £100 from Halifax switch and £100 M&S voucher for an M&S (obviously) switch.

Seems like easy money.

I have a couple of spare donor accounts left - cahoot x 2 - are there any other easy money switched available?

I bank with

firstdirect x 1 (main account)
Santander 123 x 2
Club Lloyds x 1
TSB (5%) x 3 (switched 3 old Vantages latterly Enhances with no problem)
Halifax Reward x 3 (£100 incentive just received for old Co-Op current account)
M&S (incentive received last month for old Nationwide Flexdirect post 5% rate)
cahoot x 2 (not used for a while)
Nationwide Flexaccount
Nationwide Flexplus (just opened - worth it for Roadside and Travel Ins)
Tesco Current (just opened, not funded yet, could be a donor account soon)

colsten

Coop/Smile is the obvious one missing from your list - but from another of your posts I gather you just switched away from them, so they are now off limits for you.

There are some minor incentives on Quidco if you are bored (e.g. Santander Everyday), but otherwise it is a case of sitting tight. May be Virgin will have a joining incentive as and if they eventually launch their current account, but they may have wised up to the switching bonus tarts. May be some of the other banks want to join the "I have got more switchers than you" challenge, or they might just not bother because they know they will get few real customers that way.

I wouldn't switch a Tesco account if I were you - one of the cleanest 3% interest payers. Old Cahoots look far more dispensable.

ffacoffipawb

colsten wrote: »

Coop/Smile is the obvious one missing from your list - but from another of your posts I gather you just switched away from them, so they are now off limits for you.

There are some minor incentives on Quidco if you are bored (e.g. Santander Everyday), but otherwise it is a case of sitting tight. May be Virgin will have a joining incentive as and if they eventually launch their current account, but they may have wised up to the switching bonus tarts. May be some of the other banks want to join the "I have got more switchers than you" challenge, or they might just not bother because they know they will get few real customers that way.

I wouldn't switch a Tesco account if I were you - one of the cleanest 3% interest payers. Old Cahoots look far more dispensable.

I don't trust Quidco so wouldn't use them for anything any more. imutual is much better, they haven't ripped any of my family off.

Of course the third TSB account could be a donor account as I should only have a max of 2 really. All 3 have paid the same interest for the last 3 months so all 3 are working as intended. Three lots of £6.65 last week.

colsten

ffacoffipawb wrote: »

I don't trust Quidco so wouldn't use them for anything any more. imutual is much better, they haven't ripped any of my family off.

Seems I have hit some raw nerve by mentioning Quidco. I don't understand how a cashback site could possibly rip off anyone. You should consider cashback sites as a pure bonus, not something guaranteed. As far as Quidco is concerned, I have made literally thousands through them in the last 10 years and have only had a couple of untracked transactions - no sweat. Not something I could call a rip-off.

Had a quick look at imutual's bank account offers - apart from the Secure Trust Bank offer these is nothing Quidco wouldn't beat in terms of current accounts - - which, after all, this thread is about. I must admit, I am a little shocked that anybody would offer cashback for a basic account, so most certainly will not apply for a Secure Trust Bank account.

YorkshireBoy

Nationwide refer-a-friend is good for £50...£100 if you can keep it in the family.

moneysavinggirl40

ffacoffipawb wrote: »

Of course the third TSB account could be a donor account as I should only have a max of 2 really. All 3 have paid the same interest for the last 3 months so all 3 are working as intended. Three lots of £6.65 last week.

Interesting has any1 opened 3 or more TSB accounts and got their 5% interest and is this acceptable by TSB? If it is then I'll do it.

ffacoffipawb

colsten wrote: »

Seems I have hit some raw nerve by mentioning Quidco. I don't understand how a cashback site could possibly rip off anyone. You should consider cashback sites as a pure bonus, not something guaranteed. As far as Quidco is concerned, I have made literally thousands through them in the last 10 years and have only had a couple of untracked transactions - no sweat. Not something I could call a rip-off.

Had a quick look at imutual's bank account offers - apart from the Secure Trust Bank offer these is nothing Quidco wouldn't beat in terms of current accounts - - which, after all, this thread is about. I must admit, I am a little shocked that anybody would offer cashback for a basic account, so most certainly will not apply for a Secure Trust Bank account.

That Secure Trust Basic Bank account costs £12.50 a month. I wouldn't touch it with yours.

ffacoffipawb

moneysavinggirl40 wrote: »

Interesting has any1 opened 3 or more TSB accounts and got their 5% interest and is this acceptable by TSB? If it is then I'll do it.

I never opened them. They were Lloyds TSB 3 Vantage accounts rebadged as TSB Enhance and I converted all 3 on line. Has paid interest for the last 3 months with no problems at all.

I may have to cull it anyway to help fund this year's ISA allowance of £15,000. Shares ISA of course.

ffacoffipawb

adindas wrote: »

Vantage AC only pays 3% so does TSB enhance, so how could you get the converted 3% vantage to TSB 5% interest.

Did they convert it all to TSB plus ?

Yes indeedy doody.

ffacoffipawb

adindas wrote: »

There will be advantage at the same time disadvantageous.
Adv:
You could have three paying 5% interest while most people could only get two of them with TSB.

Disadv
You could only put maximum of 3x£2000 while with enhance pole could put up to 3X£5000 to maximize the interest. But I think you still have the option to open three enhance as new accounts.

I don't have enough funds for that what with 2 fully funded 123 accounts (£40k), Club Lloyds (£4k), Nationwide FlexPlus (£2.5k), TSB Plus x3 (£6k) and Tesco Current (£3k soon). I need to take £15k for this year's shares ISA at some point. Maybe I will cash in my Premium Bonds.

Ed-1

adindas wrote: »

There will be advantage at the same time disadvantageous.
Adv:
You could have three paying 5% interest while most people could only get two of them with TSB.

Disadv
You could only put maximum of 3x£2000 while with enhance pole could put up to 3X£5000 to maximize the interest. But I think you still have the option to open three enhance as new accounts.

Enhance is no longer available to new customers.