Re switching

okydoky

Have never switched before so be gentle please......

So, if I open an RBS Select account for example, set up a couple of DDM's from my Tesco saving accounts, run a £1000 through it by means of a same day S/O in and out every month, then in a couple of weeks switch it to M & S, I can get all of the M & S benefits like the £220 on a gift card (for keeping it for 12 months) as well as access to a 6% savings account?

Sounds too good to be true, is it?

Zanderman

okydoky wrote: »

Have never switched before so be gentle please......

So, if I open an RBS Select account for example, set up a couple of DDM's from my Tesco saving accounts, run a £1000 through it by means of a same day S/O in and out every month, then in a couple of weeks switch it to M & S, I can get all of the M & S benefits like the £220 on a gift card (for keeping it for 12 months) as well as access to a 6% savings account?

Sounds too good to be true, is it?

No, it sounds perfectly reasonable! You switch an account to M&S, fulfil the conditions, and they give you the switching incentive.

Btw, there's no need to be running £1000 through the donor account as far as I'm aware. M&S have no interest in that account's pay-in history, only in DDs and in what you pay-in to them..

JWalker1995

okydoky wrote: »

Have never switched before so be gentle please......

So, if I open an RBS Select account for example, set up a couple of DDM's from my Tesco saving accounts, run a £1000 through it by means of a same day S/O in and out every month, then in a couple of weeks switch it to M & S, I can get all of the M & S benefits like the £220 on a gift card (for keeping it for 12 months) as well as access to a 6% savings account?

Sounds too good to be true, is it?

Agreed with above poster, once your 'old' account is open, I always use the card once, and then set up and needed DD's and switch it over, no point hanging about with the old bank, the new bank won't care

xylophone

Remember that M&S don't have to accept you as a customer.

You may be surprised at the level of detail required on their application form - why do they need to know the value of your house?

[Deleted User]

Maybe they keep house value data to supply the Daily Mail, for a fee of course.