Switching Bonus Enquiry

dwlive

I have just opened and been accepted for a Barclay current account and intended to switch this to Halifax for the £100 bonus once my direct debits have been set up sometime next month. However after going through the terms I came across this:

If you’re not happy with your account, you have a 14–day period in which to contact us to cancel your account or switch to another account. This period begins on the date your account is opened, or the date you receive your terms and conditions and other account information, whichever is the later. If you contact us within this period to cancel or switch your account, we’ll refund any account fees you may have paid.
However, if you cancel or switch your account at a later date, you won’t be refunded the account fees that you’ve paid. If you wish to cancel or switch your account, you should tell us by writing to Barclays, Leicester LE87 2BB.

I'm just wondering if I would have to notify them at all or if the switch service handles everything for me? Otherwise would it be best to switch within the 14 day period? My credit history is fairly good and haven't applied for anything else within the last few months so should be accepted for the Halifax acc.

I am right in thinking that it can be any account used to switch for the bonus and not your main account even if newly opened?

Any help is much appreciated.

grumbler

As long as you don't pay any fees that you want refunded, I don't see any point in giving a notice. Neither do you need to switch within 14 days.

Any account can be switched for a bonus if you fulfil all formal requirements.

cheekchulk

Hi,

dwlive wrote: »

I'm just wondering if I would have to notify them at all or if the switch service handles everything for me? Otherwise would it be best to switch within the 14 day period? My credit history is fairly good and haven't applied for anything else within the last few months so should be accepted for the Halifax acc.

Do not worry about letting them know at all, your new bank will deal with everything.

I opened a Santander Everyday account once and a week later I switched away to a bonus paying bank. All was perfectly done by the 7 day Switch Service and Santander just sent me a statment about my closing balance. :beer:

dwlive wrote: »

I am right in thinking that it can be any account used to switch for the bonus and not your main account even if newly opened?

Yes, banks can't see which is your main or which one is not your main current account - even if newly opened. :j