current account switching offers

Westie983

Ah yes indeed I do, stupid phone predictive text and small buttons big fingers, writing on a small screen doesn't help.

I have amended

badger09

alternate wrote: »

Number of customers etc is used as a measure of success and are reported at the end of the financial year. The more customers they can sign up this year the better figures they can report. They still want you as a customer next year but they will have a full year before those signups are reported.

It is no coincidence most offers end or change around this time of year.

I agree that number of current account customers (or market share;)) is a measure of success, reported at the end of the financial year.

However, Barclays, BoS, HSBC, LBG, Santander, TSB all have 31 December as their financial year end, and not 5 April.

The end of the fiscal year is irrelevant for any offers and incentives designed to attract current account customers.

diamonds

badger09 wrote: »

I agree that number of current account customers (or market share;)) is a measure of success, reported at the end of the financial year.

However, Barclays, BoS, HSBC, LBG, Santander, TSB all have 31 December as their financial year end, and not 5 April.

The end of the fiscal year is irrelevant for any offers and incentives designed to attract current account customers.

It is smoke and mirrors really- for the markets and share price, you can hold the biggest market share and make the least profit, what if most of them get Jobseekers Allowance its hardly relevant, just a boast - my cars bigger than yours.

savingwannabe

I do hope they bring these offers back as I have had the benefit of FD, Halifax and now Clydesdale. I don't think I am going to be able to take advantage of the M&S incredible offer of £10 a month and also £100 in vouchers as I have only recently signed up for Clydesdale.
I would like to thank Mr Martin Lewis and all of the brilliant posters on this thread for helping me. For the first time in my life I am being smart with money. Yay.

badger09

savingwannabe wrote: »

I do hope they bring these offers back as I have had the benefit of FD, Halifax and now Clydesdale. I don't think I am going to be able to take advantage of the M&S incredible offer of £10 a month and also £100 in vouchers as I have only recently signed up for Clydesdale.
I would like to thank Mr Martin Lewis and all of the brilliant posters on this thread for helping me. For the first time in my life I am being smart with money. Yay.

Why not?

Its not clear whether you've switched one account from FD to Halifax then to Clydesdale or switched an account into each of them. Also, I haven't checked the current Clydesdale T&C, but do they specify a minimum time to hold their account?

BUT, however you've done it, what is stopping you opening another current account where you already hold one, making sure it meets the T&C of the switching incentive you want, then switching that account?

savingwannabe

Hi I did the First Direct Switch 3 years ago and then switched the same account to Halifax last year, I then switched this (I know I realise now I could have set up another account through this forum:() in February to Clydesdale but I will get a reward in 2 months so I am happy.

I have just set opened up a new T*sco current account and will try to set up 2 DD and open a M& S account but I don't think I will be able to do it in so few days as the offer will end soon. I will try. I am still grateful for the ideas from here as I have saved quite a bit now. (not as much as you guys but for me it's great:o).:D

badger09

savingwannabe wrote: »

Hi I did the First Direct Switch 3 years ago and then switched the same account to Halifax last year, I then switched this (I know I realise now I could have set up another account through this forum:() in February to Clydesdale but I will get a reward in 2 months so I am happy.

I have just set opened up a new T*sco current account and will try to set up 2 DD and open a M& S account but I don't think I will be able to do it in so few days as the offer will end soon. I will try. I am still grateful for the ideas from here as I have saved quite a bit now. (not as much as you guys but for me it's great:o).:D

OK
Like many people, you're assuming opening a new account and switching another into it, is a single process. It isn't. It is 2 separate steps.

I haven't read all the M&S switch T&Cs - you obviously need to , but, it appears that all you need to do is successfully apply by 5th April. You then have 3 months to get your (new?) donor account ready and switched.

See page 10, but as I said, you need to read & understand all the T&Cs.

http://bank.marksandspencer.com/pdf/CACass.pdf#Page=10

So, my advice would be to apply for the M&S account NOW.

Have you opened the Tesco current account as a 'donor' for switching? If not, you could switch your new Clydesdale account once you've received the bonus.

Even if you're not accepted by M&S, it makes sense to have another account ready for switching, in case any more switching offers appear;)

Finally, do you have an account you are keeping? Do you have any savings which could benefit from a decent interest current account, or are you just hopping around bagging switching bonuses?:p

savingwannabe

Holy crap. I can't believe it. I am so glad that I am off work (Easter hols) you sir/madam have made my day. :EasterBun Don't you love this forum? :beer::beer: I will apply for the M&S account today.

You sir are an angel. :T:A:A:A:A:A:A

Yes the T+sco account is going to be a donor account.


I am a hopper between accounts as I don't have much savings. But I am working on this as I have cut down on frivolous spending and am now making sure I overpay my mortgage. I have saved £3000 into my HSBC 6% interest savings account and that will mature soon. I will then transfer that to a decent account with high interest like Nationwide.

Everything else goes into mortgage overpayments.

badger09

savingwannabe wrote: »

Holy crap. I can't believe it. I am so glad that I am off work (Easter hols) you sir/madam have made my day. :EasterBun Don't you love this forum? :beer::beer: I will apply for the M&S account today.

You sir are an angel. :T:A:A:A:A:A:A

Yes the T+sco account is going to be a donor account.


I am a hopper between accounts as I don't have much savings. But I am working on this as I have cut down on frivolous spending and am now making sure I overpay my mortgage. I have saved £3000 into my HSBC 6% interest savings account and that will mature soon. I will then transfer that to a decent account with high interest like Nationwide.

Everything else goes into mortgage overpayments.

You are very welcome.

I'm a laydee:D by the way.

I also love this forum. Most of the regular posters are incredibly helpful and well informed, but you do have to check things for yourself as we're all human (except those of us who are animals obviously:p).

A tip for your soon to mature HSBC regular saver - have a look at TSB Classic Plus as well as Nationwide (where the 5% only lasts for 12 months). Both have linked, very flexible, regular savers also at 5%, should you need them:)

As always read the T&Cs and come back if you need clarification afterwards.

Good luck and happy saving:beer:

diamonds

badger09 wrote: »

Why not?

Its not clear whether you've switched one account from FD to Halifax then to Clydesdale or switched an account into each of them. Also, I haven't checked the current Clydesdale T&C, but do they specify a minimum time to hold their account?

BUT, however you've done it, what is stopping you opening another current account where you already hold one, making sure it meets the T&C of the switching incentive you want, then switching that account?

Edit: deleted as not applicable.


I posted on another thread and it ended up here?