banking rewards from switching. Want to keep my account.

Dowsett

Hi,

Not sure how this would work so maybe someone can help.

All of the offers you see with banks; "£100 when you switch to us" etc.

Well i have a Halifax current account which i am happy with (get my £5 reward every month) and ive had my account with them since i was born. I would like to keep this account. Also have a mortgage with the Halifax.

Anyway,.... If i wanted to play the switching game and go round and collect all the rewards, how do i go about doing it without switching from halifax?

Should i go to a bank and say i want to open a current account (ok this wont get me the rewards) and then switch this account to another with a reward?

Is it possibe / does anyone have a 'second' current account that they play around with whenever there is an offer on?

Can anyone advise me?

btw, will meet all criteria required by them all. i.e £1k a month pay in, at least 2 DD etc.

TIA

solentsusie

Open a RBS/Natwest account, this is pretty easy to do online and use that as a 'switcher' account.

I have one with direct debits set up to two Tesco savings accounts. This can then be used for switching and meeting the criteria to get the incentives without having to disturb a main current account.

Hope this helps.

Dowsett

solentsusie wrote: »

Open a RBS/Natwest account, this is pretty easy to do online and use that as a 'switcher' account.

I have one with direct debits set up to two Tesco savings accounts. This can then be used for switching and meeting the criteria to get the incentives without having to disturb a main current account.

Hope this helps.

Thanks, i pressume its a current account that needs to be opened.

Sounds easy then as it should be easy to open a current account with, say a £100 OD.

It sounded easy in my head but just wanted to ask as a double check.

I take it you dont get any rewards from RBS/Natwest which is why you use them as a starter account?..

SuperHan

Natwest are always my donor account as I find their new account process really easy. And then I have 2 Tesco DDs set up on there.


I always open the donor account with no OD too - no need for it.

solentsusie

Dowsett wrote: »

Thanks, i pressume its a current account that needs to be opened.

Sounds easy then as it should be easy to open a current account with, say a £100 OD.

It sounded easy in my head but just wanted to ask as a double check.

I take it you dont get any rewards from RBS/Natwest which is why you use them as a starter account?..

Yes, RBS/Natwest are ideal for donor accounts and the online application process is very quick and easy. You don't need an overdraft to switch so I agree you don't need one.

Good luck.

downhillfast

Just set up another account with Halifax (non reward type) and switch that one. You'll have the account number and sort code instantly and the card arrives within a few days from my experience of doing exactly the same!

Westie983

You cant switch Halifax and Halifax, so if the OP is wanting to use their reward account they would have to open a donor account outside of Halifax and BOS.