Switching without changing a main bank account

lush_walrus

I love my main current account so don't want to change it, but do need a second current account and thought I might aswel see if there is a way to also gain a switching bonus. So I've been trying to work out a way to do it.

If for example I opened a new bank account as a temporary measure, created two direct debits and then started one that has the bonus would that do it? I wouldnt really need direct debits from another account, so would two set up to move money to my partner for example do it, or would it need to be to a utility company or such like?

Im trying to work out if actually I am just better off setting any old account up as a secondary current account or whether it is actually worth going for a bonus or not!

Thanks all

grumbler

lush_walrus wrote: »

I love my main current account so don't want to change it, but do need a second current account and thought I might aswel see if there is a way to also gain a switching bonus. So I've been trying to work out a way to do it.

If for example I opened a new bank account as a temporary measure, created two direct debits and then started one that has the bonus would that do it?

Normally it would.

I wouldnt really need direct debits from another account, so would two set up to move money to my partner for example do it, or would it need to be to a utility company or such like?

It doesn't have to be a utility DD, but very few personal accounts allow moving money between them by a DD. Normally it's either a bank transfer or a Standing Order.

colsten

lush_walrus wrote: »

If for example I opened a new bank account as a temporary I wouldnt really need direct debits from another account, so would two set up to move money to my partner for example do it, or would it need to be to a utility company or such like?

You cannot set up direct debits between current accounts. It's standing orders you are thinking of, and they are very different from direct debits.

Presently, only the Coop requires 2 DDs for their switching bonus. The FD, M&S and Halifax switching offers don't need DDs. But if you do need DDs, they are easy to get. Search for Tesco savings accounts.

YorkshireBoy

colsten wrote: »

Presently, only the Coop requires 2 DDs for their switching bonus.

The revamped YB/CB switching incentive also now requires 2 DDs, as does the Nationwide RAF switching incentive.

colsten

Thanks for adding the YB/CB and Nationwide RAF switch info, YorkshireBoy.