Switching to First Direct

saver861

YorkshireBoy wrote: »

You maybe switched under the 3rd version of the incentive T&Cs?

I'm not sure what version of the T&C's I switched under. I was not even aware there was different versions of T&C's!! I switched about last August time, so whatever version was on then.

YorkshireBoy wrote: »

There was no restriction on the number of switches that could be made in the 2nd version of the offer T&Cs

I'm still missing the point here though. If you have a YB account and you switch to another bank it closes the YB account does it not? It can only be used as a donor account once?

So, you can only switch out once?

I'm missing something obvious here!!

YorkshireBoy wrote: »

As I've said many times on here previously, when you're reading T&Cs, it's just as important to understand what they DON'T say as it is to understand what they DO say.

To be honest I don't particularly read the T&C's. Usually do the switch, get the readies and move on! However, I would agree not reading the T&C's can mean getting hitting a banana skin.

YorkshireBoy

saver861 wrote: »

I'm missing something obvious here!!

Let me try and put it simply.

YB were offering a £150 incentive for switching into one of their accounts.
YB did not place a limit on the number of incentive payments they would make (under the 2nd version of the T&Cs, which ran from Nov/Dec 2014 to Feb 2015 roughly).
I opened 11 YB accounts.
I then opened 11 donor accounts with other banks.
I switched each of the donor accounts into YB (1-1, 2-2, 3-3, etc).
I was paid 11 lots of £150 by YB for switching into 11 YB current accounts.

colsten

saver861 wrote: »

To be honest I don't particularly read the T&C's.

Had you considered that this might be the reason why you didn't make £1,650 or more from the earlier YB/CB switch offer?

saver861

YorkshireBoy wrote: »

Let me try and put it simply.

YB were offering a £150 incentive for switching into one of their accounts.
YB did not place a limit on the number of incentive payments they would make (under the 2nd version of the T&Cs, which ran from Nov/Dec 2014 to Feb 2015 roughly).
I opened 11 YB accounts.
I then opened 11 donor accounts with other banks.
I switched each of the donor accounts into YB (1-1, 2-2, 3-3, etc).
I was paid 11 lots of £150 by YB for switching into 11 YB current accounts.

lol. Nice one!!!! I missed that one by a lonnnnnnng shot.

Normally they say you can not be an existing customer so once you open the first account that is it. Any others won't qualify for the incentive.

To be honest, I'm a bit surprised that they did not pick up on that. Two or three accounts maybe but eleven - without query!!!!! Not sure how that impacted on your credit file? They still do a search.

Good one though!!!! I like it - thats a proper job!!

saver861

colsten wrote: »

Had you considered that this might be the reason why you didn't make £1,650 or more from the earlier YB/CB switch offer?

awww mannnn whatttt .... kicking myself goodo here.