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MSE News: 'I made £800 switching bank again and again.'

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Comments

  • Candyapple
    Candyapple Posts: 3,384 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    He also missed out on the £100 leaving bonus from FD ;)
    http://www1.firstdirect.com/1/2/banking/current-account
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
  • VT82
    VT82 Posts: 1,091 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I just hope he did all the switching with a secondary current account rather than with his main one. As good as the switching service is, why risk messing up your main current account when you can get the incentives by switching one or more dummy accounts?

    Although if he had been doing it like that, it should have been the Halifax one being maintained as the main account to keep the fivers rolling in, while the sacrificial account(s) were switched at will, but he's admitted closing the Halifax one for some reason...
  • Anthorn
    Anthorn Posts: 4,362 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I haven't made anything at all from switching bank accounts but I'm with a bank that provides me with the best service I've ever seen.
  • jimjames
    jimjames Posts: 18,796 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Anthorn wrote: »
    I haven't made anything at all from switching bank accounts but I'm with a bank that provides me with the best service I've ever seen.
    You do realise that you can do both?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • System
    System Posts: 178,365 Community Admin
    10,000 Posts Photogenic Name Dropper
    Fidor bank?!
    Anthorn wrote: »
    I haven't made anything at all from switching bank accounts but I'm with a bank that provides me with the best service I've ever seen.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    Anthorn wrote: »
    I haven't made anything at all from switching bank accounts but I'm with a bank that provides me with the best service I've ever seen.

    So am I...I have never actually left the Halifax which is the bank I do all of my actual real day to day banking with. Although I have switched my contactless transactions to the TSB for the monthly £5 bonus.

    I always open a donor account, set up 2 direct debits against that account then switch it.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Part of the Furniture 10 Posts Combo Breaker Savvy Shopper!
    Back in the day (late 2013ish) before I was a heavy MS'er I switched my main current account to FD netting £125 if I remember rightly.

    In the last 15 months I have switched a secondary (or tertiary) account to nab the following

    M&S - £125
    CO-OP - £100 (plus the bit for charity)
    Halifax - £100 (plus £5 per month)
    Yorkshire - £150
    Nationwide - £75.75 (TCB offer)
    HSBC - £120 (due next month)

    So £795.75 overall. Not bad going at all. Just a shame I opened my TSB account before their switch offer started.
  • castle96
    castle96 Posts: 2,998 Forumite
    Part of the Furniture 1,000 Posts
    £2350 incl 9 x YB/CB. All a while ago now

    Yorkshireboy ? £
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    castle96 wrote: »
    £2350 incl 9 x YB/CB. All a while ago now

    Yorkshireboy ? £
    Over the last year or so...

    £1,650 from 11 YB switches
    £600-800 or so from Nationwide (Inc. Quidco...eventually!)
    £220 from Co-op and HSBC going through at the minute

    I did most of the others years ago, or was excluded eg TSB, so I'm content with £2,670 this last year.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    neas wrote: »
    Lightweight, he should've switched 8 current accounts to YBS and Clydesdale bank when they were giving £150 for each current account switch, around 5 months ago. Earned £1200 from one bank alone plus a similar amount to him over time, so probably at £2000 :)
    I think you mean 12-14 months ago? The T&Cs had been tightened up long before last October/November.
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