Yorkshire & Clydesdale Banks offering £150 for switching

YorkshireBoy

inspireme247 wrote: »

I tried to get Direct account with YB but they said I can't because I already got it with Clydesdale.

Hopefully you mean they told you before going through with an application and carrying out a wasted credit search?

YorkshireBoy

castle96 wrote: »

I thought you could only have one interest bearing account and one non interest account, ie only one account with each of YB and CB.

Why would you think that?

How many of each accounts, with each Lender ? (I seemed to have missed the multiple application thing. I have 1 x Direct with CB and 1 x Plus with YB)

Any restrictions on number of accounts of each type will be detailed in the respective account T&Cs.

Any restrictions on number of switching incentives payable will be detailed in the switching incentive T&Cs.

Time to get reading.

inspireme247

YorkshireBoy wrote: »

Hopefully you mean they told you before going through with an application and carrying out a wasted credit search?

They did tell me beforehand so no credit search is wasted

yeahright_2

Has no-one but me been told that if you're already with either CB or YB, then you have to stick with them, you can't belong to both separately? ie any further accounts must be with the original named bank?

Surely after you have the maximum sole/joint CA Directs, you could go on for ever with multiple Readycashes and Plusses? It is certainly a tedious business and coming up with reasons why you should want so many is equally so. It has been like the Spanish Inquisition so far!

Would the best way to get a CB rather than a YB account be to use the 0845 6025450 number for existing CB customers even though I don't actually have a CB account?

Thanks in advance.

Ed-1

yeahright wrote: »

Has no-one but me been told that if you're already with either CB or YB, then you have to stick with them, you can't belong to both separately? ie any further accounts must be with the original named bank?

Surely after you have the maximum sole/joint CA Directs, you could go on for ever with multiple Readycashes and Plusses? It is certainly a tedious business and coming up with reasons why you should want so many is equally so. It has been like the Spanish Inquisition so far!

Would the best way to get a CB rather than a YB account be to use the 0845 6025450 number for existing CB customers even though I don't actually have a CB account?

Thanks in advance.

Some advisers will tell you that but it's not technically the case. They should allow you to open up accounts under both brands but there's little point in doing so.

It won't make any difference with the phone number as you end up with the same Direct Banking account opening team and one of the questions on the application is 'Do you have a bank account with either YB or CB already?'. If you say no and you have already got a YB account, the system throws out the application at the end.

Anon

Just thinking out loud, but hypothetically could you use the switching service more than once to the same YB/CD account (ie switching in more than one external account)? According to T&Cs you have to complete a full account switch, have to credit £1000.

You are eligible if you open a new account OR switch to an existing account that has been credited with an average less than £1000 per month over past 6 months or since opening if that is shorter. Depending on when account opened, early adopters were in November or December who finally paid in December or January and by default will not have put in an average of £1000 per month ...?

Assuming calendar month and when they are classifying account opening date - I know I signed up in November, still haven't received a switching pack and if I finally get the switching pack this month I cannot have paid in an average £1000 per month as missing December (and possibly November). Obviously would be nice to see one switch and £150 before trying another, but for some of you it may be possible ...?

Ed-1

Anon wrote: »

Just thinking out loud, but hypothetically could you use the switching service more than once to the same YB/CD account (ie switching in more than one external account)? According to T&Cs you have to complete a full account switch, have to credit £1000.

You are eligible if you open a new account OR switch to an existing account that has been credited with an average less than £1000 per month over past 6 months or since opening if that is shorter. Depending on when account opened, early adopters were in November or December who finally paid in December or January and by default will not have put in an average of £1000 per month ...?

Assuming calendar month and when they are classifying account opening date - I know I signed up in November, still haven't received a switching pack and if I finally get the switching pack this month I cannot have paid in an average £1000 per month as missing December (and possibly November). Obviously would be nice to see one switch and £150 before trying another, but for some of you it may be possible ...?

I thought the same thing but it might be pushing the boundaries although technically the T&Cs don't rule out receiving more than one incentive for the same account.

The £1000 average per month only counts for account openings prior to 17th November anyhow, not since.

Anon

Ed-1 wrote: »

I thought the same thing but it might be pushing the boundaries although technically the T&Cs don't rule out receiving more than one incentive for the same account.

The £1000 average per month only counts for account openings prior to 17th November anyhow, not since.

More than one account is pushing the same boundaries, just may be less hassle than the account opening call. So in theory (but not tested) you could save the account opening stage of the hassle and just have the account switching stage (probably only worth testing by someone who has already got their £150 credited ... which excludes me as I haven't even got the switching pack yet despite a number of calls and promises including that the manager is going to send by recorded mail next day delivery personally ... that was four days ago :mad:).

YorkshireBoy

Anon wrote: »

Just thinking out loud, but hypothetically could you use the switching service more than once to the same YB/CD account (ie switching in more than one external account)?

Whilst the actual switching T&Cs don't mention switching your "main account", the advertising bumph (both online and in branch leaflets) does.

By definition (I suppose?), you can only have one "main account". At least that's the stance I'd imagine YB/CB would take. So when you called to ask where your 2nd, 3rd, 4th incentive payments were, I'm sure you wouldn't get them.

I'm hoping the switching incentive is an automated process (but programmed in as one per account, with various flags being set along the way, ie switch date, £1K credit, etc), but just in case it isn't, and there's some bod in an office somewhere checking them, all my switch dates were kept well spaced apart!

Much better to go with multiple accounts, rather than multiple switches, in my opinion. But no doubt we'll find out on the tally up in March/April (if the offer lasts until the end of February!).

Ed-1

Anon wrote: »

More than one account is pushing the same boundaries, just may be less hassle than the account opening call. So in theory (but not tested) you could save the account opening stage of the hassle and just have the account switching stage (probably only worth testing by someone who has already got their £150 credited ... which excludes me as I haven't even got the switching pack yet despite a number of calls and promises including that the manager is going to send by recorded mail next day delivery personally ... that was four days ago :mad:).

What I meant by pushing the boundaries is that receiving an incentive on more than one account is ruled in through condition 3(a); i.e. you can qualify by opening a new account. It is more sketchy for want of a better word to try and argue that you can get more than one incentive on the same account as it is not technically ruled out (rather than 'ruled in'). They probably credit the incentives by account rather than by customer so they wouldn't see if a customer had already received an incentive on a different account but could easily on the same account.

Also, strictly speaking, the terms rule out receiving more than one incentive on the same joint account, and while I'm sure what this means is that both account holders won't receive an incentive for the same switch, technically it rules out receiving more than one incentive on the account. Therefore it would be nonsense for sole accounts to be different.