Switching offers - maximising rewards

heyitsroth

Hi

I'm looking to make some money out of the bank switching offers, but have a couple of questions:

1. When an account requires monthly deposits over a certain amount, can you just pay in some money then take it out again the next day/a few days later?
2. Can you really get away with switching from an account you've opened solely for that purpose? Do they not care that the account you're switching from is a few days old?
3. If you can get away with that, does that mean you can apply for multiple switching offers at the same time?

Thanks!

pollypenny

You can put the required sum and take out again almost immediately. I used to wait a couple of hours.

Now I check the account I'm moving money into; if it shows I transfer it back to my main current account.

Not sure about the other points.

YorkshireBoy

Yes, yes, no, and yes...in that order.