Claiming switch bonus twice at the same bank. Has anyone managed it?

useyourillusiontoo

Hi

A quick question really. Has anybody opened a bank account at say TSB claiming the £100 switching bonus, switched it out to Co-op to claim their bonus a few months later, then, during the next round of switching offers gone back to TSB to claim again.

I only ask because I've gone through all the offers the banks have to offer and wondered if it was worth starting the cycle again.

Thanks

YorkshireBoy

If you take some time to read the current switching incentive T&Cs for those providers offering such incentives you'll see that (without exception?) they are all now written to prevent two bites of the cherry.

You may have some success with cashback sites though.

fuzzgun19

Yes Halifax.

YorkshireBoy

fuzzgun19 wrote: »

Yes Halifax.

First one prior to Jan 2012 then?

useyourillusiontoo

Neat.

I think Halifax Reward is the one account that I opened 5 years ago without a switch bonus.

I'll switch that out today and come back to them in the new year if they're still doing the deal.

Cheers

colsten

useyourillusiontoo wrote: »

Neat.

I think Halifax Reward is the one account that I opened 5 years ago without a switch bonus.

I'll switch that out today and come back to them in the new year if they're still doing the deal.

Cheers

??? Halifax offer is available for existing customers, provided they have not had the bonus since Jan 2012.

Reading the switching terms doesn't give you any nasty disease.

fuzzgun19

YorkshireBoy wrote: »

First one prior to Jan 2012 then?

No. I can't remember the exact month, but the first was opened maybe end of 2014, second was opened a few months later May 2015. got £100, then £125 and actually kept the account to use. (wasn't expecting the second one).

Harveys_2

How many reward accounts can you open? Thank you.

colsten

One sole, one joint.

deeboy1

Yes, with Co-op, three times.


I had the third £100 credited to my account within the last month. This was actually with Smile, their phone banking brand offering the same bribe. But the T&Cs for the offer appear to be exactly the same for the Co-Op itself.
So you could, in theory, keep doing this ad infinitum with just the Co-Op.


They key to getting this right is understanding their definition of new customer in the full T&Cs:


"You will be considered a new customer if you do not already have a Co-operative Bank or smile current account as at 1 October 2014."


http://www.smile.co.uk/currentaccounts/125switch/terms


So, it's a pretty generous timetable really.


Even more strangely, I kind of like the account and their website!


I almost felt a pang of guilt this time about taking the p out of a failing bank. But then I remembered the £25 charity donation they gave me each time, and realised I'm really doing a good deed ;p

ST-User

Sorry for being thick but I'm not a native speaker. What does that 'as at' exactly mean? Thanks!