How often can use u switch?

BurnsieUK

Hi.

So I'm aware that money current accounts now offer a reward for switching to them.

My question, does this reward normally come with a fixed tike-frame. If you change accounts again within a year you have to pay it back?

ceredigion

Only one of them

d70cw6

it'd be in the terms and conditions of the account

mt99

When I switched to First Direct last year and got £150 bonus it was even in the T and C that I'd get another £100 if I left within a year!!


"First Direct is also renowned for its excellent customer service and if you’re not happy with your account, you’ll be given £100 if you leave after six months (and within 12 months)."

dingdongsaving

We've switched one of our accounts around for this before, but have always kept a longstanding account also.

The cash back offers and frequency varies from bank to bank and this site is a great place to see the current offers/comparisons. http://www.moneysupermarket.com/current-accounts/search/results/?goal=CUR_ALL

Natwest didn't offer cash back for existing customer switches when we opened another account to get £150 in 20011. We stayed with that switch for 2 years. Then we moved on...Santander used to offer cash to swap and now appears to have withdrawn the offer and to be on the 'cash back' bandwagon. (*Don't get me wrong, we have a cash back credit card for groceries and fuel that we clear each month and love the £250 'bonus' we earn each year just for buying what we would buy anyway!)

Halifax then offered £100 for a switch and £50 for a money review...so we did both and got a further £150...

We're currently looking to move this 'portable' account again to get another £150 boost with the Coop.

Each time we do it we natter about how it's earning us far more than the interest for us on our current account (which we empty each month with d/debits for bills and into saving accounts)...and to be honest, it's more than most standard savings accounts on average savings!

Halifax are currently advertising that their reward for switching isn't an offer for customers who've had it since 2012, so we can't have it this time.

So Coop it is, although M&S is tempting with £220 on an M&S gift card for a year-long stay with them. We easily spend that in there between the 4 of us on clothes, underwear, shoes and school uniform.

Good luck with your earnings.

ah23

dingdongsaving wrote: »

We've switched one of our accounts around for this before, but have always kept a longstanding account also.

The cash back offers and frequency varies from bank to bank and this site is a great place to see the current offers/comparisons. http://www.moneysupermarket.com/current-accounts/search/results/?goal=CUR_ALL

Natwest didn't offer cash back for existing customer switches when we opened another account to get £150 in 20011. We stayed with that switch for 2 years. Then we moved on...Santander used to offer cash to swap and now appears to have withdrawn the offer and to be on the 'cash back' bandwagon. (*Don't get me wrong, we have a cash back credit card for groceries and fuel that we clear each month and love the £250 'bonus' we earn each year just for buying what we would buy anyway!)

Halifax then offered £100 for a switch and £50 for a money review...so we did both and got a further £150...

We're currently looking to move this 'portable' account again to get another £150 boost with the Coop.

Each time we do it we natter about how it's earning us far more than the interest for us on our current account (which we empty each month with d/debits for bills and into saving accounts)...and to be honest, it's more than most standard savings accounts on average savings!

Halifax are currently advertising that their reward for switching isn't an offer for customers who've had it since 2012, so we can't have it this time.

So Coop it is, although M&S is tempting with £220 on an M&S gift card for a year-long stay with them. We easily spend that in there between the 4 of us on clothes, underwear, shoes and school uniform.

Good luck with your earnings.

How often would you switch? For example, sign up for M&S bank, once you receive the gift card within a month, just switch to another account for their incentive, and so on and so forth?

YorkshireBoy

ah23 wrote: »

How often would you switch? For example, sign up for M&S bank, once you receive the gift card within a month, just switch to another account for their incentive, and so on and so forth?

That would be a poor example, being as you'd be throwing away £120.

As to how often, I believe in striking while the iron is hot...if there are 2 or 3 offers available, then do them all in parallel rather than in series, since by the time you get round to it they may have gone!

YorkshireBoy

dingdongsaving wrote: »

We've switched one of our accounts around for this before, but have always kept a longstanding account also.

The cash back offers and frequency varies from bank to bank and this site is a great place to see the current offers/comparisons. http://www.moneysupermarket.com/current-accounts/search/results/?goal=CUR_ALL

Natwest didn't offer cash back for existing customer switches when we opened another account to get £150 in 20011. We stayed with that switch for 2 years. Then we moved on...Santander used to offer cash to swap and now appears to have withdrawn the offer and to be on the 'cash back' bandwagon. (*Don't get me wrong, we have a cash back credit card for groceries and fuel that we clear each month and love the £250 'bonus' we earn each year just for buying what we would buy anyway!)

Halifax then offered £100 for a switch and £50 for a money review...so we did both and got a further £150...

We're currently looking to move this 'portable' account again to get another £150 boost with the Coop.

Each time we do it we natter about how it's earning us far more than the interest for us on our current account (which we empty each month with d/debits for bills and into saving accounts)...and to be honest, it's more than most standard savings accounts on average savings!

Halifax are currently advertising that their reward for switching isn't an offer for customers who've had it since 2012, so we can't have it this time.

So Coop it is, although M&S is tempting with £220 on an M&S gift card for a year-long stay with them. We easily spend that in there between the 4 of us on clothes, underwear, shoes and school uniform.

Good luck with your earnings.

Your post reads as though you're only ever dealing with joint accounts? If you'd escalated your activities you could have doubled your returns!

bigadaj

YorkshireBoy wrote: »

Your post reads as though you're only ever dealing with joint accounts? If you'd escalated your activities you could have doubled your returns!

Isn't that tripled?

YorkshireBoy

bigadaj wrote: »

Isn't that tripled?

Not for switching incentives. If you bag one for a joint account switch you generally (if at all) can't then go on to bag another from the same bank for switching a sole account.