Cashback sites and switching current accounts

bugbyte_2

Top Cashback are offering £80.80 to switch your current account to Nationwide's Flexdirect. As I don't want to switch my current account but do want the Flexdirect account to park £2500 @ 5% in, and to be frank they may as well pay me £80.80 as well for the privilege of my custom, what do I need in a dummy account to enable the switch?

Say for example I opened a current account with £50 at Tesco Bank for the sole purpose of switching it to Nationwide, with no direct debits going in or out.
Would this satisfy their criteria to trigger the £80 payment? Or would I need to have DD's going in and out, so it at least looks like its a 'real' account? If anyone has experience doing this I would be grateful for advice!

vouch0r

what do the switching T&Cs state n TCB?... from what i can see no mention of requiring any DDs.

YorkshireBoy

...although if you do set up a couple of DDs on the donor account, there's an extra £50 available via their refer a friend scheme.


Easily achievable with Tesco savings accounts, although you perhaps might want to go with a different current account provider. Suggest TSB or RBS.

bugbyte_2

Yeh I couldn't see anything either.

Topcashback:

You will be eligible for the cashback if you open a Nationwide FlexAccount, FlexDirect or FlexPlus account following the link on this page and, within 45 days of the account being opened, you complete a full switch of your existing non-Nationwide current account using the Current Account Switching Service.

Nationwide:

To switch you'll need:
the name of your current bank or building society
your sort code
your account number
to switch to an account in the same name (whether you're opening a joint or sole account).

bristolleedsfan

Nothing needs to be in the switching out account for the Cashback Site incentive, I tended to put a small balance in mine not that there is any requirement to do so.

bugbyte_2

Super! that certainly makes life easier!

In that case I will just create a Natwest Basic bank account with an initial £50 and swap that.

dalef

Hi,

I just came here to ask the same question as was looking to do the exact same thing as the OP. Except I want the FlexPlus account.

My question though, are there any bank accounts that I can apply for that don't do a search on my credit file? (Don't want to affect my 'credit score' by looking like applying for many cards at once!)

Thanks.

YorkshireBoy

dalef wrote: »

My question though, are there any bank accounts that I can apply for that don't do a search on my credit file?

Its possible that applying for an account with your existing bank may not incur a credit search. Certainly true with YB, who only perform an identity search.

(Don't want to affect my 'credit score' by looking like applying for many cards at once!)

Multiple current account searches are far less damaging than multiple credit card searches. I've opened well over a dozen current accounts in the last 3 months!


Re the FlexPlus, don't forget to get someone to refer you (via Nationwide's RAF scheme) in addition to applying through the cashback site!

dalef

YorkshireBoy wrote: »

Multiple current account searches are far less damaging than multiple credit card searches. I've opened well over a dozen current accounts in the last 3 months!

Thanks!

YorkshireBoy wrote: »

Re the FlexPlus, don't forget to get someone to refer you (via Nationwide's RAF scheme) in addition to applying through the cashback site!

I don't know anybody personally with a nationwide account. Would be happy to give details to somebody on here to refer me...? :beer: Easy £50 each!


According to their Recommend a Friend - Terms 'A minimum of two Direct Debits must be transferred as part of their switch.'

Anybody know if these can be moved over from my existing Santander 123 current account after the switch is complete? Or would they need moving over first to the temporary account I plan to setup? I would switch them back after receiving the £50.

YorkshireBoy

dalef wrote: »

According to their Recommend a Friend - Terms 'A minimum of two Direct Debits must be transferred as part of their switch.'

Anybody know if these can be moved over from my existing Santander 123 current account after the switch is complete? Or would they need moving over first to the temporary account I plan to setup? I would switch them back after receiving the £50.

They need to be on the donor account. If you'd rather not mess with 'important' DDs, a couple of Tesco savings account DDs would suffice...and also serve to meet the T&Cs of any future switches you do requiring DDs, eg the £100 Co-op offer.

s71hj

Re the FlexPlus, don't forget to get someone to refer you (via Nationwide's RAF scheme) in addition to applying through the cashback site![/QUOTE]

does this definitely work so you get the cashback and the raf money?