switching current accounts

locky82

I have just opened a Halifax current account for my day to day spending and they have sent me an email saying I get £100 if I switch. I wont switch from my Santander 123 which is my main account, my wages go into and my dd's come out, but I'm wondering if I could just provide them with an old HSBC account I don't use and get the £100? Thanks

grumbler

>> halifax get 100 quid no dd's or pay in required now

badger09

locky82 wrote: »

I have just opened a Halifax current account for my day to day spending and they have sent me an email saying I get £100 if I switch. I wont switch from my Santander 123 which is my main account, my wages go into and my dd's come out, but I'm wondering if I could just provide them with an old HSBC account I don't use and get the £100? Thanks

Yes you can, as long as you're happy for your old HSBC account to be closed.

locky82

Thank you. For a £100 Im more than happy for it to be closed!!

badger09

locky82 wrote: »

Thank you. For a £100 Im more than happy for it to be closed!!

Although not strictly necessary per the T&C of the switch incentive, you might consider funding your HSBC account with a modest amount, and setting up either a payment into or out of it (eg SO from/to your Santander 123 account) just so that there is actually something for Halifax to switch

I've no heard any reports of switching incentives not being paid for an empty/dormant account, but wouldn't take the risk myself You can always cancel the SO once the bonus has been paid.

PS I assume its the Halifax Reward you've opened?

locky82

Its the account that pays £5 with two DDs and £750 a month, so do you think its worth moving the two DDs (car insurance and my union m'ship fee, no cashback!!!) to HSBC first and then switching? It will still be the easiest £100 I will ever earn!

badger09

locky82 wrote: »

Its the account that pays £5 with two DDs and £750 a month, so do you think its worth moving the two DDs (car insurance and my union m'ship fee, no cashback!!!) to HSBC first and then switching? It will still be the easiest £100 I will ever earn!

Have you already transferred 2 DDs to Halifax to qualify for the £5pm reward?

As I said, there is no requirement to transfer DDs to qualify for the switch incentive, but I think it sensible to have at least some activity on the account you're switching. Probably safer to use SOs which you can easily cancel afterwards.

jayjay21

You don't need anything on the previous account to switch, there is no risk in switching with nothing set up. I switched my co-op account to Halifax with 0.05p in and received £100. Direct debits and standing orders are not needed.