Bank Account Switching Bonuses - questions

cooper_d

I'm looking into switching for the signing bonus.

1. Can I switch an account that has no direct debits, but then add the required number of direct debits afterwards?

2. Can my spouse also claim a switching bonuses for moving her account even though we share the same address?

Help appreciated

YorkshireBoy

cooper_d wrote: »

I'm looking into switching for the signing bonus.


1. Can I switch an account that has no direct debits, but then add the required number of direct debits afterwards?

2. Can my spouse also claim a switching bonuses for moving her account even though we share the same address?

Help appreciated

1. Yes, if you pick a switching incentive offer that doesn't require DDs to be switched. And of course then you wouldn't have to switch any afterwards.


2. Yes of course.

cooper_d

Great, thanks for the clear reply.

But just to be absolutely clear:

Switching an account with no DDs and then setting up the required number (e.g. 4 for the Co-op switching deal) does not qualify for the incentive? i.e. the DDs much be transfered through the switching procedure.

Sorry if I'm being thick.

ceredigion

For the co-op they need to be set up.
To elaborate on Yorkshireboy`s comment, look at Halifax.

eskbanker

cooper_d wrote: »

But just to be absolutely clear:

Switching an account with no DDs and then setting up the required number (e.g. 4 for the Co-op switching deal) does not qualify for the incentive? i.e. the DDs much be transfered through the switching procedure.

Sorry if I'm being thick.

To be honest I'm not sure how much clearer the Co-Op could be, when the advert on their front page prominently states:

£150 when you switch your current account to us

New customers must complete a full switch to The Co-operative Bank using the Current Account Switch Service and switch at least 4 active Direct Debits

before even needing to go to Ts & Cs.

cooper_d

Thanks. I did read that but I (ambitiously) hoped there might be a difference between the "full switch via the switching service" relating to the account, in comparison to the "and switch" of the DDs.

I was hoping to manually switch the DDs from a 3rd account that I don't want to close.

xylophone

You might open a donor account, manually switch the DDs to it and then transfer to Coop for the incentive.

Your wife can switch a sole account for the incentive.

EarthBoy

cooper_d wrote: »

I was hoping to manually switch the DDs from a 3rd account that I don't want to close.

If you do it manually, it isn't switching; it's cancelling the DD at one bank and setting up a new DD at another bank. To switch, you have to let the banks do it.