Switched current account

tonymcs

How long do you have to keep a switched current account (BOS Reward) before you can switch it to a new account

colsten

What do the T&CS say about how long you have to keep the account?

Are you sure you switched to a BOS Reward? Because as far as I know, the BOS Reward had long been withdrawn for new applications by the time the CASS came to market in September 2014.

Why would you switch a BOS Reward anyway? There is almost no other account that pays you £60 a year.

tonymcs

Thank you for replying.


'What do the T&CS say about how long you have to keep the account?'

The first place I looked...


'Are you sure you switched to a BOS Reward? Because as far as I know, the BOS Reward had long been withdrawn for new applications by the time the CASS came to market in September 2014.'


.........Switched to this account march 2015

' Why would you switch a BOS Reward anyway? There is almost no other account that pays you £60 a year.'


......Want to switch to M and S ... £220 for first year. Martin's site has quite a few accounts which pay more than £60.


Thanks all the same.


Tony

YorkshireBoy

tonymcs wrote: »

The first place I looked...

And what did you see?

......Want to switch to M and S ... £220 for first year. Martin's site has quite a few accounts which pay more than £60.

Round these parts it's almost unheard of to give up free money! People generally open up another account (in your case, another BoS Classic account) and switch that instead, thereby retaining £60 a year for basically doing nothing other than half a minute of 'admin' once per month.

tonymcs

Thanks for your contribution.


The problem I have is that I don't have enough direct debits to do what you suggest...I already have 3 BOS Classic accounts.


If there are any contributors who can answer the original question that would be useful


Thanks Tony

YorkshireBoy

Were you paid an incentive for switching to the BOS Reward account?

ceredigion

Tonymcs
Two of the most prolific and knowledgeable posters have already tried to help you in this thread and you have so far succeeded in pi$$ing both of them off. I'm afraid you are now on your own.

tonymcs

yes £100 and I don't want to lose it if I switched

tonymcs

I asked a straight forward question to which no one has been able to answer and I am fine with that.


I appreciated the contributions from others and tried to give straight forward information on the specific points they made.


If you don't have anything positive to add please refrain posting and also try to avoid using abusive language. Please respect the forum's etiquette policy.


Thank You

Maelwys

Unfortunately the question really isn't that straight forward - and I don't think anyone's going to be able to help you unless we can we pin down exactly what account you currently have and what switching deal you took out.

I haven't seen Bank of Scotland branded Reward Accounts advertised for the past few years either. (Halifax Rewards Accounts, Yes. Which pay £5 a month and have a switching bonus of £100 just like you quoted, but not BOS Reward accounts) If you switched to them in March 2015 did you do so via an offer that was only available by phone or in branch?

There's no "You must wait X months before switching or else you'll lose your bonus" rule that carries across all possible switched bank accounts. You'd need to check the individual switching offer's Ts&Cs.

I think what is throwing people is partly the fact that you have a BOS Reward account (which is something of an oddity) and partly the fact that you appear to be wanting to give up a free £60 a year instead of just opening a new account with a few token Charity Direct Debits (e.g. Tesco Savings A/C) and switching that instead...

As an aside, you could switch your BOS Classic accounts to a TSB Classic Plus Account and a few Club Lloyds Accounts to get another £100 bonus (for switching to TSB) and a slightly better interest rate.

changearound

Unless it's specifically stated in the T&Cs that you have to keep the BOS Reward account open for a minimum amount of time post switch, then you won't lose your £100 by switching again.

I don't have any experience with this specific account but have done an equivalent secondary switch with no problems straight after receiving a switching bonus.

Remember you have to keep the M&S account open for a year to get the full £220 so you may want to consider switching to other accounts (Yorkshire Bank, First Direct etc.) and getting their bonuses before moving on to M&S.