Yorkshire & Clydesdale Banks offering £150 for switching

Archi_Bald

Heng_Leng wrote: »

She didn't say much more than they would eventually change to a Current Account Plus with 0% interest.

Great plan for a mass-exodus of customers, or at least of money.

MARTYM8`

YorkshireBoy wrote: »

Your interpretation of the incentive T&Cs is different from mine (and, I suspect, the majority of others on here).

I recognise you only have to pay £1k in after switching – and could in theory take the whole lot out the next day – but I intend to keep it in the account earning 2% until I get the £150. Not taking any chances!

derrick

MARTYM8` wrote: »

I recognise you only have to pay £1k in after switching – and could in theory take the whole lot out the next day – but I intend to keep it in the account earning 2% until I get the £150. Not taking any chances!

Seconded.


.

planteria

you can, and you can second... and 2% is better than many Savings Accounts. but the point is that you don't need to leave £1,000.00 in to qualify for the account opening incentive.

anoncol

MARTYM8` wrote: »

I recognise you only have to pay £1k in after switching – and could in theory take the whole lot out the next day – but I intend to keep it in the account earning 2% until I get the £150. Not taking any chances!

There are no chances to take. Just follow the T&Cs.

irm

Just got my forms through - what a ruddy mess. Some in duplicate, some not, some even in partial duplicate (eg pages 1 and 3 but page 2 missing etc).

Anyway...I'm a little confused by the "Current account switch service form - personal" - where it asks for "old account name" - would this be my name, or the name of the type of account (eg M&S Current Account)?

MARTYM8`

anoncol wrote: »

There are no chances to take. Just follow the T&Cs.

Yes - which says you need to credit your account with £1,000 within a month of your switch.

Well I intend to keep my account at least £1,000 in credit to comply with this in the strictest possible sense until the £150 is received. 2% interest is better than any non current account instant access by some way so its hardly an issue!

Its been a mighty struggle to get this far - the most complex account opening process I have ever encountered. So am taking no chances!

YorkshireBoy

irm wrote: »

Just got my forms through - what a ruddy mess. Some in duplicate, some not, some even in partial duplicate (eg pages 1 and 3 but page 2 missing etc).

And no return envelope. And no "from us to you" leaflet!

Anyway...I'm a little confused by the "Current account switch service form - personal" - where it asks for "old account name" - would this be my name, or the name of the type of account (eg M&S Current Account)?

In your example, you'd enter 'M&S Bank' (as I did on one of mine ).

YorkshireBoy

MARTYM8` wrote: »

Yes - which says you need to credit your account with £1,000 within a month of your switch.

Well I intend to keep my account at least £1,000 in credit to comply with this in the strictest possible sense until the £150 is received. 2% interest is better than any non current account instant access by some way so its hardly an issue!

Its been a mighty struggle to get this far - the most complex account opening process I have ever encountered. So am taking no chances!

I agree it's common sense if you can't beat 2% AER elsewhere (and there's a message there for you!), but speaking as a switching incentive veteran(!), you do appear to be fretting unnecessarily. For example, if your credit came in the form of salary and was £1,165.34 would you have left that there for a month or two so as not to "take any chances"?...or would you have used some of it to pay your mortgage, council tax, and other bills? Do you see where I'm coming from?

I can tell you now, I have more than one switch going through, and just as soon as the £1K credit arrives it will be withdrawn again (less a sum retained to meet a couple of SOs I've put on the old account...just to show willing!), and I fully expect to get my incentive payments.

irm

YorkshireBoy wrote: »

And no return envelope. And no "from us to you" leaflet!

I got the envelope, lucky me eh. It even has "Kilmarnock" scribbled on it in ink. Nothing even mentions the other leaflet (that I've noticed), never mind it being included.

YorkshireBoy wrote: »

In your example, you'd enter 'M&S Bank' (as I did on one of mine ).

Cheers!