Yorkshire & Clydesdale Banks offering £150 for switching

fonsde

Hi


My 2nd switch was conpleted on the 2nd of march. When i singed the agreement, it was the old t&cs. Do i have to do anything?? I am guessing i should be getting the incentive if i meet the old t&c , right?

s71hj

I'm now moving into the conversion to £150 phase as my switches gradually complete. Reading the t and cs i received there is reference to crediting with 1000 following switch completion. No reference to this not including the money that came across as part of the switch. I do recall reference to this however on the thread but i think this was an old set of t and cs?. Just wanted to double check as money coming across with switch could be defined as following switch or not as its "at switch". Sorry if this has been answered multiple times already!!!

cheexy

creditavenger wrote: »

That's what I did for 6 of my switches which went ahead on the 10th of March. Having seen the posts about funding "too early" and rechecking the TOC I am now wondering if funding the £1K via the switched account actually strictly complies with the "following the switch" clause.

I seem to remember somebody (maybe a forum poster or an actual YB bod) saying that this would be OK, but it's not actually explicit in the TOC I was given. I'm therefore wondering if I would be best to chuck another £1k in the accounts just to be safe. It would still be within the 31 days. I'd hate to scupper the £900 because of a technicality. Obviously I'd whip the extra payment out again virtually straight away. Any thoughts?

Just transfer 1k into the accounts and transfer out just to be on the safe side.

cheexy

s71hj wrote: »

I'm now moving into the conversion to £150 phase as my switches gradually complete. Reading the t and cs i received there is reference to crediting with 1000 following switch completion. No reference to this not including the money that came across as part of the switch. I do recall reference to this however on the thread but i think this was an old set of t and cs?. Just wanted to double check as money coming across with switch could be defined as following switch or not as its "at switch". Sorry if this has been answered multiple times already!!!

See my post 1767 above.

MARTYM8`

phil7445 wrote: »

Can I check, I assume depositing the £1000 is enough, you don't have to keep it there and can remove it the next day?

Yes - its a current account not a savings account. You are meant to spend/withdraw what you pay in.

I do think people are over analysing all this - when its a very simple flow of events.

Wait for the switch to occur, pay in £1kplus the next day and then spend/withdraw the £1k the day after that/as you wish - and you will get your £150 under both versions of the pre 28 Feb terms. Don't over complicate it.

fuzzgun19

When I opened accounts, I told them it was for putting money aside for this and that.

Then I started getting knocked back for an account, they said that I was not using the accounts I already had as I said I would.

If I just remove all the money (after the £1000 is paid in) Is there any way they would refuse to pay the incentive if the account has no funds to speak of and "I hadn't used the account as I said I would"?

SevenOfNine

MARTYM8` wrote: »

Wait for the switch to occur, pay in £1kplus the next day and then spend/withdraw the £1k the day after that/as you wish - and you will get your £150 under both versions of the pre 28 Feb terms. Don't over complicate it.

Pay it in by all means, just don't try to move it back out on-line within max 10 days to receive your 10 digit code before you can even access a/c on-line, & a further max 10 days to receive your 'token' to increase your money transfer limit from the default max of £300 to £1000! Could of course move 3x£300 + 1x£100 but someone already tripped over trying that.

Princess_x

SevenOfNine wrote: »

Pay it in by all means, just don't try to move it back out on-line within max 10 days to receive your 10 digit code before you can even access a/c on-line, & a further max 10 days to receive your 'token' to increase your money transfer limit from the default max of £300 to £1000! Could of course move 3x£300 + 1x£100 but someone already tripped over trying that.

Can you not just transfer £200 in + out 5 times = £1000 worth of credit to the account, for example? Of course doing it over a course of 5 to 10 days. AFAIK it doesn't have to be one £1000 lump sum in one go... Or am I missing something?

MARTYM8`

SevenOfNine wrote: »

Pay it in by all means, just don't try to move it back out on-line within max 10 days to receive your 10 digit code before you can even access a/c on-line, & a further max 10 days to receive your 'token' to increase your money transfer limit from the default max of £300 to £1000! Could of course move 3x£300 + 1x£100 but someone already tripped over trying that.

Yes – obviously my advice assumes you are fully set up on internet banking and have an activation code and the nice grey security token to allow you to make payments/withdrawals online over £300.

Or you can just go into a YB or CB branch – and provide ID and take the cash out by debit card.

I know its not perfect – but the staff are doing their best! Can’t be easy for the staff either given the volume of applications – while knowing full well their owners are trying to fatten up both banks so they can be sold off (which could mean some of those staff lose their jobs in the future).

SevenOfNine

Princess_x wrote: »

Can you not just transfer £200 in + out 5 times = £1000 worth of credit to the account, for example? Of course doing it over a course of 5 to 10 days. AFAIK it doesn't have to be one £1000 lump sum in one go... Or am I missing something?

Yeah, you missed #1724 from newlyretired though may be preferable to do it your way, over a few days. Alternatively, you CAN do it in one go over the phone..

All this chatter about whether £1000 of funds already in the switch a/c actually counted as the necessary funding to qualify for the incentive deposit worried me.

My token thing just arrived, bit quicker than indicated, so decided to shift £1000 in from another a/c & activate the token to shift it back out. Seems OK but I'm going to stop reading this thread. With the new T&C's it's getting too confusing.