Switching Bribes - how frequently?

vaderag

So i recently moved to Halifax with a bribe. Quite happy there, but seeing how easy it was got me wondering... what's to stop me moving to someone else, getting their bribe and doing it again?

Is there some kind of limit on how frequently i can switch?

Dird

The limit is there's only 8 bribes so you'll run out after a year or so.

Soft limits too like minimum pay-in requirements or a crap credit score

SuperHan

No real limits. I have two on the go at the moment.

vaderag

8x~100 = 800 quid is quite an incentive tho for a bit of faff...

And i'm guessing that it's not going to be a big ding to your credit report..

colsten

Dird wrote: »

The limit is there's only 8 bribes

Which are these 8 please?

benjybars

Ok so just to be clear - can banks take back their payments? Like the OP, I joined Halifax about 5 months ago.. Will they try and take back their £100 if I now go somewhere else?

Any clarification appreciated!

tg99

benjybars wrote: »

Ok so just to be clear - can banks take back their payments? Like the OP, I joined Halifax about 5 months ago.. Will they try and take back their £100 if I now go somewhere else?

Any clarification appreciated!

Nothing in their switching terms and conditions that I can see which would allow them to take back the payment just for leaving them.

tg99

colsten wrote: »

Which are these 8 please?

Not including Nationwide RAF and Quidco/TCB-only deals, I think there are 6?

First Direct
M&S
Coop
Clydesdale/Yorkshire
Halifax
TSB

As an aside, are there any positives/negatives in choosing Clydesdale over Yorkshire or vice-versa for their switch as appears to be identical terms and conditions as you might expect given part of same group. (I'm opting for the account that pays 2% interest.) Customer feedback stats look relatively similar for both too so can't see anything material in difference between the two myself unless one has more restrictions on what you can do online / in app.

Zanderman

tg99 wrote: »

As an aside, are there any positives/negatives in choosing Clydesdale over Yorkshire or vice-versa for their switch as appears to be identical terms and conditions as you might expect given part of same group. (I'm opting for the account that pays 2% interest.) Customer feedback stats look relatively similar for both too so can't see anything material in difference between the two myself unless one has more restrictions on what you can do online / in app.

They're the same bank really, same online systems, same everything. Just different names. YB have branches further south, but if you need to visit a branch I'm sure either would do.

[Note that if you do need to visit a branch you'll find they are very rare indeed south of Yorkshire... Just a handful in the south.]

colsten

tg99 wrote: »

Nothing in their switching terms and conditions that I can see which would allow them to take back the payment just for leaving them.

Nationwide do have some recall terms now in their Refer A Friend offer.

tg99

colsten wrote: »

Nationwide do have some recall terms now in their Refer A Friend offer.

Yep my comment was only in relation to the Halifax switch.