switching bank account bribes?

phatus

Can anyone tell me what the reasoning behind the banks asking for a minimum pay in amount for the switching bribes they're offering is? Is it simply that it's not worth it for them if the pay in amount is to low?

Also does anyone know if there are any clauses with any of the banks which state you have to stay with the bank for x amount of time before leaving or they will take the money they gave back? So what's to stop people just hoping around getting all these free bribes one after the other.

Archi_Bald

phatus wrote: »

Can anyone tell me what the reasoning behind the banks asking for a minimum pay in amount for the switching bribes they're offering is? Is it simply that it's not worth it for them if the pay in amount is to low?

they obviously are looking for serious customers, not for bonus tarts. Not that this stops bonus tarts - have a read round the forum, you will find plenty of information on opening new bank accounts.

phatus wrote: »

Also does anyone know if there are any clauses with any of the banks which state you have to stay with the bank for x amount of time before leaving or they will take the money they gave back?

you need to refer to the terms of the individual offers

phatus wrote: »

So what's to stop people just hoping around getting all these free bribes one after the other.

may be nothing, may be something - - it depends on the T&Cs.

PS. Please use a normal font that people can read without amagnifying glass.

phatus

Not sure why someone with a £1,000+ salary is considered more serious than someone with a lower salary but okay.