Yorkshire & Clydesdale Banks offering £150 for switching

gettingtheresometime

How long does the account have to remain open once you've been paid the incentive before you can close it?

lulu650

My understanding is you can close it immediately once you have the £150. However......don't!! Use it for switching to another bank for their incentive.

I made the mistake of closing bank accounts once I'd used their incentive schemes. I should have kept them and used for switching.

MARTYM8`

gettingtheresometime wrote: »

How long does the account have to remain open once you've been paid the incentive before you can close it?

1 Second. As soon as you receive the funds they are yours - and you can transfer them out.

However I would suggest if you have outstanding applications or are planning more applications for YB/CB accounts you keep all your accounts open until you get all your incentives - and don't transfer them out.

Because you really do need all those 5, 6 or 7 current accounts - because you are hopeless at budgeting. The £150 incentive per account has nothing to do with it at all.:D

And if you switch out - assuming you haven't used them already - open accounts with other banks that offer incentives and/or cashback from cash back sites (e.g. Coop, Halifax, First Direct, M&S, Nationwide, Santander - and if you live in Ulster and are really really dedicated First Trust etc etc ).

gettingtheresometime

MARTYM8` wrote: »

1 Second. As soon as you receive the funds they are yours - and you can transfer them out.

However I would suggest if you have outstanding applications or are planning more applications for YB/CB accounts you keep all your accounts open until you get all your incentives - and don't transfer them out.

Because you really do need all those 5, 6 or 7 current accounts - because you are hopeless at budgeting. The £150 incentive per account has nothing to do with it at all.:D

Only asking as I've received the £150 and have now been accepted for the £125 cashback that Halifax are offering.

So I can transfer back to Halifax and be £275 better off :D

planteria

Which is good work, and exactly how to do it;)

I've had 3 of 6 paid.. (Kind of expecting a scrap over the latter 2) and am already thinking of where to go next...:think:

dalef

Do you think applying today we would get paperwork through post by 28th?

It does say 'signed by' 28th, I guess that implies that if they receive it Monday/Tuesday next week they will still accept the application and still give us £150?

planteria

i would guess so, but that it will be tight.. they certainly aren't the quickest off the mark.
there has been talk of an extension to End March, apparently:think:

afmfifgh

With the monthly income requirement for some accounts such as the YB Current Account Direct which has a minimum pay in of £1,000 a month to get the 2% interest is it essential to say that your monthly income is at least £1,000?

The reason I ask is because you could achieve the pay in with a monthly income of say £500 and just pay £500 in, take it out and pay it back in. Or would you likely not meet the eligibility if you said you had less than £1,000 a month income?

Should you also keep the amount you say is your monthly/yearly income consistent when applying for accounts in order to keep your chances of being accepted more likely from a credit check view point? Or does it not matter?

Also if you go for the Readycash account would that have less of an impact on your credit check than the Current Account Direct as the Readycash account does not have an Overdraft feature so you wouldn't be asking for credit?

I don't have the need for an overdraft and want to have as little impact on my credit file when applying for accounts.

Many thanks!

sparkiemalarkie

dalef wrote: »

Do you think applying today we would get paperwork through post by 28th?

It does say 'signed by' 28th, I guess that implies that if they receive it Monday/Tuesday next week they will still accept the application and still give us £150?

my paper work arrived next day......

afmfifgh

dalef wrote: »

Do you think applying today we would get paperwork through post by 28th?

I applied on Friday and arranged my phone interview for today. I have been called today and told they have been inundated with people applying and I would now have to wait until Wednesday to be called by someone who can process my application. So I think the chances of me getting the offer have taken a nose dive unless it is extended