Switching bank accounts within the same group

Candyapple

Is this possible, or because they are owned by HSBC will the switch incentives be rejected?

RBS > HSBC (£120) > First Direct (£150+£100) > M&S (£100)

colsten

The chain you detail below has been possible in the past. You need to read the T&Cs which are valid at the time you request your switch. They may or may not allow a given switch.

YorkshireBoy

Further to colsten's post, if a switching offer excludes another bank within the group the T&Cs will specifically say so. Check out the Halifax offer for example and their exclusion of BoS accounts.

Indeed, some switching incentive T&Cs specifically INCLUDE accounts from within the group. Check out, for example, the current HSBC incentive T&Cs, which clearly state FD & M&S switches are allowed.

However, your plan isn't really a good one. You'll have a 70 day wait for your HSBC cash, then a 6 month wait for your FD leaving cash, and then have to hope the M&S deal is still on come Autumn. I'd be doing all 3 simultaneously, especially since RBS donor accounts are very easy to open!

System

Just to note, I've not seen any restrictions based on banking group, it's only been within the same bank e.g BOS and Halifax.

Tractorman123

YorkshireBoy wrote: »

Further to colsten's post, if a switching offer excludes another bank within the group the T&Cs will specifically say so. Check out the Halifax offer for example and their exclusion of BoS accounts.

Indeed, some switching incentive T&Cs specifically INCLUDE accounts from within the group. Check out, for example, the current HSBC incentive T&Cs, which clearly state FD & M&S switches are allowed.

However, your plan isn't really a good one. You'll have a 70 day wait for your HSBC cash, then a 6 month wait for your FD leaving cash, and then have to hope the M&S deal is still on come Autumn. I'd be doing all 3 simultaneously, especially since RBS donor accounts are very easy to open!

Yorkshire boy, I see RBS doesn't do the basic account now to use as a donor account (which I used twice before), do you just use the select account and is it just as easy to get?

(I see the basic is called the foundation account, for folk not eligible for the main current accounts, as similar with Clydesdale and nationwide if I remember, must've changed recently?!)