Yorkshire & Clydesdale Banks offering £150 for switching

MRMX9

dougzz wrote: »

Switch your 'Main' bank account. Any idea what this means and whether there is ever any attempt to suggest the dormant/near dormant account you switch simply to get the incentive is clearly not your main bank account?

Just as a follow up on this point.

The leaflets available in branches advertising the deal do make specific reference to transferring your main bank account. The more detailed terms and conditions not referencing 'main account' are not included in the glossy leaflet.

The leaflet does include the link to the website for the full conditions in small print which suggests you have to 'Pay in a minimum single £1000 payment like a salary or pension' (does this mean it must be a salary or pension payment or from any source - what does 'like' mean?)

http://www.cbonline.co.uk/personal/current-accounts/switch-offer

The webpage then contains a link to the full terms which merely talk about a full switch from any current account.

http://www.cbonline.co.uk/resources/0956a153-3298-45a4-93e9-2d502d2bd3a4/CB-current-account-switch-offer-CB0816.pdf

Its odd how we obsess about the words 'like or 'main' - but it could be used as an excuse not to pay out (e.g. if you don't pay your salary into it). How do you even define main bank account anyway?

A lawyer could have a field day.

atlantis187

Guys please help,
I really want to sign up for this offer but
I have currently got 3 Halifax reward accounts for the £5ers and my main account with first direct.


I don't have any spare current account I can switch from and don't fancy closing the Halifax or first direct account.


What do u guys suggest I do to make this work?


Thanks

Archi_Bald

atlantis187 wrote: »

What do u guys suggest I do to make this work?

Think outside the box?

(Keeping in mind that all banks read this forum.....................)

YorkshireBoy

atlantis187 wrote: »

What do u guys suggest I do to make this work?

You have 3 options. 2 of them are contained within your post (but I wouldn't take one of these...you can probably guess which one? If you can't, here's a clue...it's the one that has the potential to lose you £120 a year!). The 3rd option isn't contained within your post.

In short, you need another account...so go get one.

atlantis187

YorkshireBoy wrote: »

In short, you need another account...so go get one.

Which is the account that is the quickest to open because I want to get it before this offer ends?


Also can you use a savings account instead to do the switch as ive got a couple Tesco ones I could probably use.


Thanks

YorkshireBoy

atlantis187 wrote: »

Which is the account that is the quickest to open because I want to get it before this offer ends?

I would imagine one where they already know you? Then again, I've opened accounts with new banks and been fully operational within a fortnight.

Also can you use a savings account instead to do the switch as ive got a couple Tesco ones I could probably use.

Not for nothing is it called the Current Account Switching Service (CASS).

atlantis187

how many current accounts are u allowed to have with first direct?
I've already got 2 single and joint, will they likely to give me 1 more single?


Also when does the Yorkshire bank incentive offer end?

YorkshireBoy

atlantis187 wrote: »

how many current accounts are u allowed to have with first direct?

No idea, I'm not an FD customer. Maybe ring them now and ask?

I've already got 2 single and joint, will they likely to give me 1 more single?

See above.

Also when does the Yorkshire bank incentive offer end?

When it says it does on their website, and in the incentive T&Cs...or earlier!

keiran

Should we feel guilty in opening up bank accounts simply for the incentives?

Recently, I've opened with Halifax, Co-op, M&S, Yorkshire.

It's a lot of work for staff on the phone, they have to send out lots of paperwork, do their checks, print out debit cards, set up internet access, etc, etc

It must cost them more in the processing than the incentives we get...negative overall value in systems' terms?

m1kjm

Good grief, that's 29 minutes of my life gone for good. I was thoroughly grilled on all aspects of my finances. Her answer to everything was 'Fantastic'. It was like wading through glue. Why they can't have an online application process I don't know. The things an MSEr will put up with for £150.