Bank account switching rewards - minimum opt in length

Mattdalley

MSE community

What is the minimum length you can stay with a bank after switching bank accounts and scooping up their cash rewards.

I'm very happy with the bank I'm with, but Halifax and HSBC offers of cold hard cash for switching is very tempting. Is it possible to serial switch, claim the cash and switch again or do you need to stay with the bank for a minimum length of time after receiving the money? It would be a massive shock to get several angry letters bemoaning hundreds back in bonuses.

Just a curiosity.

Best wishes all

Mattdalley

Additional

I do not want any credit facilities. I have credit cards which I switch for 0% deals, and I don't have any overdrafts. So I'm not concerned about constantly switching and having a load of credit searches on my experience account.

I would just be switching for the standard, no overdraft accounts

Cheers

badger09

Mattdalley wrote: »

MSE community

What is the minimum length you can stay with a bank after switching bank accounts and scooping up their cash rewards.

I'm very happy with the bank I'm with, but Halifax and HSBC offers of cold hard cash for switching is very tempting. Is it possible to serial switch, claim the cash and switch again or do you need to stay with the bank for a minimum length of time after receiving the money? It would be a massive shock to get several angry letters bemoaning hundreds back in bonuses.

Just a curiosity.

Best wishes all

The T&C of the particular switching incentive you have received will cover this. If the T&Cs don't specify any minimum period, then there isn't one;)