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Opening a bank acc for cash 'incentive'

Apologies in advance if I'm asking silly or the wrong questions !

I've decided to look at one of these accounts, no idea which yet but I need to clarify.

Would I have to switch my entire banking to the other bank i.e. pensions paid in and all my direct debits & standing orders ? Or could I just have it running alongside my existing account/bank and move some of my DD and SO over and pay in enough to cover them and use the debit card occasionally ?

Thank you

EM

Comments

  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    When you begin your search you'll see the T&Cs of all the switching incentives dictate that your old account MUST be closed as part of the 'deal', since all use the Current Account Switching Service (CASS).

    For this reason, many people switch a secondary account (often called a 'donor' or 'sacrificial' account), after first setting up any direct debits required.
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