Taking advantage of banks switching offer

steensy

Hi ok so I decided I want to take advantage of the current account switch service the offer atm where they give you a cash incentive for switching. The plan is to set up some donor bank accounts to switch to these new accounts the main problem I have is I have orgibiser my finances to have as little as possible coming out of my accounts on direct debits as possible. So is there a way I can set up savings accounts that take a direct debit each month for a small amount of money I can use to service the agreements on these accounts. And obviously the intention is to bounce my wage each month to meet minimum deposits. So that's the plan and I would be great full if you guys can advise me on how best to do this if any already have, also a list of big banks that offer the cash and if there is a way to get cheap direct debits set up for this. Any advice would be apriciated and sorry for the grammar ��

Archi_Bald

steensy wrote: »

Hi ok so I decided I want to take advantage of the current account switch service the offer atm where they give you a cash incentive for switching. The plan is to set up some doner bank accounts to switch to these new accounts

it's donor account, not a kebab! Although we could call them kebab accounts now....:D

steensy wrote: »

the main problem I have is I have orgibiser my finances to have as little as possible coming out of my accounts on direct debits as possible. So is there a way I can set up savings accounts that take a direct debit each month for a small amount of money I can use to service the agreements on these accounts.

It wouldn't be Direct Debits but Standing Orders you use to send money into or out of your own current accounts. All current accounts do allow you to set up Standing Orders.

steensy wrote: »

meat minimum deposits

honest, no kebabs or other meat involved

steensy wrote: »

. So that's the plan and I would be great full if you guys can advise me on how best to do this if any already have, also a list of big banks that offer the cash and if there is a way to get cheap direct debits set up for this. Any advice would be apriciated and sorry for the grammar ��

There are threads about all the accounts that pay a switching bonus, and there is a general article here.

If you need extra DDs, check out this thread.

steensy

Now you and I both know differently but I'm going to blame that on the auto correct on my iPhone lol
Thanks for ure help

steensy

Archi_Bald wrote: »

There are threads about all the accounts that pay a switching bonus, and there is a general article here.

Looked at this article but i notice there are only a few banks listed, is there a thread someone has created with a full list? i ask this because i know that currently first trust are doing an offer for £125 but i have banked with them before and know they are a lot of hassle.

also i checked out the like for the direct debits and got two set up from tesco so i can use them to meet any direct debit commitments.

MARTYM8`

steensy wrote: »

Looked at this article but i notice there are only a few banks listed, is there a thread someone has created with a full list? i ask this because i know that currently first trust are doing an offer for £125 but i have banked with them before and know they are a lot of hassle.

also i checked out the like for the direct debits and got two set up from tesco so i can use them to meet any direct debit commitments.

Here is the current list I believe for current accounts:

Halifax - £125 until 6 April (no DDs required)
Coop (if they ever pay up!) - £100 (plus up to another £40 if you click via top cashback - TCB) which requires two active DDs to switch
First Direct - £100 (no DDs required)
M&S - £100 M&S voucher if you go direct but £125 if you click via this site/Sharon Osbornes favourite money site (no DDs required)
Nationwide - £80 if you switch via TCB or Quidco (No DDs) or if you know someone who has an account with them already use refer a friend to get £50 each (2 DDs needed)
Santander – around £30-35 if you switch to them via TCB/Imutual/Quidco
First Trust - £125 for a switch (NI residents only - but good luck with that one even if you live in NI!)
Clydesdale/Yorkshire – no switch incentive at present but there were rumours they might bring their £150 offer back

N.B. If you use the cashback sites try and avoid using the bank’s site before hand (or delete your cookies) as your cashback may not track.

eskbanker

Archi_Bald wrote: »

it's donor account, not a kebab! Although we could call them kebab accounts now....:D

....especially if they only pay a pitta-nce in interest

steensy

MARTYM8` wrote: »

Here is the current list I believe for current accounts:

Halifax - £125 until 6 April (no DDs required)
Coop (if they ever pay up!) - £100 (plus up to another £40 if you click via top cashback - TCB) which requires two active DDs to switch
First Direct - £100 (no DDs required)
M&S - £100 M&S voucher if you go direct but £125 if you click via this site/Sharon Osbornes favourite money site (no DDs required)
Nationwide - £80 if you switch via TCB or Quidco (No DDs) or if you know someone who has an account with them already use refer a friend to get £50 each (2 DDs needed)
Santander – around £30-35 if you switch to them via TCB/Imutual/Quidco
First Trust - £125 for a switch (NI residents only - but good luck with that one even if you live in NI!)
Clydesdale/Yorkshire – no switch incentive at present but there were rumours they might bring their £150 offer back

N.B. If you use the cashback sites try and avoid using the bank’s site before hand (or delete your cookies) as your cashback may not track.

thanks, i never knew you could use cash back sites aswell. must check that out thanks

Mikebutterworth89

MARTYM8` wrote: »

Here is the current list I believe for current accounts:

Halifax - £125 until 6 April (no DDs required)
Coop (if they ever pay up!) - £100 (plus up to another £40 if you click via top cashback - TCB) which requires two active DDs to switch
First Direct - £100 (no DDs required)
M&S - £100 M&S voucher if you go direct but £125 if you click via this site/Sharon Osbornes favourite money site (no DDs required)
Nationwide - £80 if you switch via TCB or Quidco (No DDs) or if you know someone who has an account with them already use refer a friend to get £50 each (2 DDs needed)
Santander – around £30-35 if you switch to them via TCB/Imutual/Quidco
First Trust - £125 for a switch (NI residents only - but good luck with that one even if you live in NI!)
Clydesdale/Yorkshire – no switch incentive at present but there were rumours they might bring their £150 offer back

N.B. If you use the cashback sites try and avoid using the bank’s site before hand (or delete your cookies) as your cashback may not track.

What do we mean with Co-op not paying up? I'm thinking of switching to them, have people had problem?
Ta