Quick sense check please :)

siross

LXdaddy wrote: »

There does not seem to be a limit.

Sorry for the lack of reply, busy weekend!

So, am I right in thinking my plan is this:

1) Set up 4 donor bank accounts (any accounts that probably won't offer switches in the future?)
2) Find someone to refer me to Nationwide = £100 offer (then I can do the same and earn up to £1000)
3) Set up a Tesco Internet Saver account and a Tesco Instant Access account.
4) Set up 8 direct debits on the Tesco accounts. 2 DDs per donor bank account.
5) Complete switches using donor bank accounts to Nationwide, Halifax, Yorkshire/Clydesdale, M&S Bank

Ongoing actions

1) Move money around as necessary
2) Move the money pulled into Tesco accounts into normal savings account

Does that make sense?

I'm mostly concerned about whether point 4 is actually possible?

Thanks,

Simon

badger09

Point 4 is possible.

Why would you want to move the money pulled into Tesco (savings) accounts into a 'normal savings account'? Do you not have any of the high interest paying current accounts or regular savers which would provide a better home?:cool:

YorkshireBoy

On 5) you may wish to wait until the Halifax account is open before setting up the DDs, being as a) they're not necessary for the switching incentive, b) a little less attention is drawn to your activities at Tesco, and c) the switch may be actioned more swiftly (remember...the £125 offer expires in a fortnight).

siross

YorkshireBoy wrote: »

On 5) you may wish to wait until the Halifax account is open before setting up the DDs, being as a) they're not necessary for the switching incentive, b) a little less attention is drawn to your activities at Tesco, and c) the switch may be actioned more swiftly (remember...the £125 offer expires in a fortnight).

Great, thanks for that!