Yorkshire & Clydesdale Banks offering £150 for switching

jlfrs

moneysavinggirl40 wrote: »

Clydesyde require 2 direct debits for eligibility of £150, therefore I have opened online a Classic TSB account with 2 dd set up to my own TESco internet saver and another to my Tesco instant access account. Both dd of £1. These haven't taken affect yet bugt have been set. do you think when i apply I will be asked for any evidence of the account i will be switching from?ie this bogus TSB account I have created (purely for switching purpose). What sort of questions have they asked on the phone during application?

I have done exactly this for all 5 switches and I don't believe you will have a problem as the account you are switching is not bogus. You will be asked for account number and sort code, they may ask how long you have had it. They will do a credit check but apart from that, that's all I have ever been asked. If like me you have little money in this account and the new account requires a minimum payment, either put it into your bogus account before the switch or transfer from another one AFTER the switch to ensure you are eligible for the bonus.
Remember, you do not need to keep the money in the new account, you can send it right back again. That is unless the new bank requires a minimum balance. I think none do, so you ought to be ok.

moneysavinggirl40

Did u have your switching account for just days..did u say the truth? I have been with the building society for 2 years but this 'bogus account' opened online today. Already asked Clydesdale to ring me next week if poss.

jlfrs

I didn't mention it for the first one I did (to First Direct), I wasn't asked. After that, the domino effect started - make 1 switch, wait 2 months to get the bonus, then switch that account again immediately. Actually, with First Direct I got the switching bonus and the leaving bonus, a double whammy in effect.
I've just had the Co-Op bonus paid in today and have already opened a Nationwide Flexaccount via TopCashback online with a full switching service.I've barely had the account open 2 months.
I honestly wouldn't worry - somebody somewhere is getting paid simply for getting new accounts in, it's probably some sort of numbers game.

Yorkshire_Pud

moneysavinggirl40 wrote: »

Did u have your switching account for just days..did u say the truth? I have been with the building society for 2 years but this 'bogus account' opened online today. Already asked Clydesdale to ring me next week if poss.

Just say its a main account not a bogus account:)

They will ask you for the 16 digit card number on the TSB debit card so you need to get that first. Then they check its a switchable account, it will be, but they need the sort code and account number, and do a credit check usually in minutes.

Shouldn't be a problem the account being open only a short time as long as you have the debit card.
Tesco say they need ten days to set up a DD but it usually appears the next day on the funding banks list of DDs.

moneysavinggirl40

So when they call next week and because I haven't received my card TSB card, shall I say I can't find it at the moment, are you able to still process without it?

Unless I use my TSB Classic Plus account to switch which I do have a card for, but having said that this TSB Classic Plus does not have any dd associated with it. Will have to set them up, ASAP. Maybe I can upgrade my classic 'bogus' account to classic plus.

All depends when the card comes from TSB and when Clydesdale call me.

Any other suggestions??

Yorkshire_Pud

moneysavinggirl40 wrote: »

So when they call next week and because I haven't received my card TSB card, shall I say I can't find it at the moment, are you able to still process without it?

Unless I use my TSB Classic Plus account to switch which I do have a card for, but having said that this TSB Classic Plus does not have any dd associated with it. Will have to set them up, ASAP. Maybe I can upgrade my classic 'bogus' account to classic plus.

All depends when the card comes from TSB and when Clydesdale call me.

Any other suggestions??

Yeah chill out!

TSB card should arrive next week. If Clydesdale phone before you receive it just say can they phone back later in the week and repeat if necessary:)

I can't remember why they need the 16 digit number offhand but I made sure I had the card(s) first so I could jump through their hoops, keep it simple!

When you get your TSB card use the PIN and activate the card and carry out a transaction. In fact you probably already have the account in your TSB online banking so transfer some funds from the Plus ac to the bogus I mean switch account. I think it looks good to have SOME activity on the switch account and a small balance to transfer over.

Yorkshire_Pud

Thinking about it I think the 16 digit PAN number gives the bank the info they need to check while you are on the phone that its an account they can switch, no reason it won't be!

Once its passed on to the switching team I wouldn't think that team could care less if the account is three days old, just that its a valid account, then they get on with their job.

Other thing you could do if you are worried about them phoning you before you get the card is you phone them on their freephone number when you get the card. Just ask them the first time they ring if you don't yet have the card for the free number and say it will suit you better to phone them in the next seven days as you are busy

YorkshireBoy

Yorkshire_Pud wrote: »

Thinking about it I think the 16 digit PAN number gives the bank the info they need to check while you are on the phone that its an account they can switch

I don't think it is. You can switch current accounts that don't have a debit card assigned to them.


It's more to do with CPAs, ie to make sure they're represented to the new bank if called.

moneysavinggirl40

YorkshireBoy wrote: »

I don't think it is. You can switch current accounts that don't have a debit card assigned to them.


It's more to do with CPAs, ie to make sure they're represented to the new bank if called.

So I received my bogus TSB classic account debit card and decided to call Clydesdale to hurry things up with applying over the phone as I did get a call on Monday from Clydesdale (to open account) but my TSB classic card still hadn't arrived, so had arranged for a ring back on Fri but good old TSB card arrived today.

I had my debit card with 16 digits all ready, but all the scottish guy asked for was a current account sort code and account number he said it needn't be the one you want switching from just any account. I understood his Scottish accent, which sometimes throws me. He said so you want a Yorkshire Bank account and he explained that this is what I need cos I live in England.

The other questions asked were why you would like an account with us, I said the truth and said you have a good incentive £150 so I want to join for that. He asked lots of personal questions about where my name came from as it isn't an English name, how many children i have, my income gross pa, net per month, my line of work, how long i worked there for, what my previous address was, he asked how long i had my account for and i twisted the reply and said I was with TSB for 2 years which is true, just the actual account is not 2 years old (this i didn't say).

He asked if i had other funds/income other than my paycheque which would be crediting the account. Was asked to hold for 2 minutes about x3. He asked about my holiday plans for this year. Unsure how much was relevant to the application and how much was just chit chat. The conversation went on for 1 hour or so(the number is 0800 so free). So make sure you have a cup of tea and time.

He read off stuff about overdraft, the choice of account I wanted. ALL done for £150 at the end of the day. I will receive cards in the post. Once the card is in my possession i should be able to sign up to internet banking. Paperwork will come through about the switch at which point i will have to give details of my account i want to switch from I believe.

My TSB 'bogus'classic account is already set up with x2 dd to my Tesco saver and instant saver. (this was done last week via online banking) Case of £1000 for x3 months or so just until incentive goes in which should go in 70days from opening account will get my £150.

Gilbo_Baggins

Annoying as I live in a new build property and Yorkshire didn't have my address in the PAF search the only way they can open me an account is in branch. Central London is my closest so think I'll be missing out on this switch.