Switching Incentives - Do you actually need direct debits setup?

Andrew_Ryan_89

Hi guys,

Do you actually need direct debits setup in order for the incentive to be paid? I opened a dummy account and tried to get two direct debits to appear on it before the Halifax switch took place (there policy is you must have two DD to qualify for the incentive). Only one got setup. In fact, I was paid the incentive before the other account was even closed.

I am doing a few switches to get a number of incentives but juggling the direct debits can be a balls ache at times, especially when they don't appear. Just curious to see if it is something they actually monitor or as long as the previous account is closed, they will pay the incentive.

YorkshireBoy

Andrew_Ryan_89 wrote: »

Hi guys,

Do you actually need direct debits setup in order for the incentive to be paid? I opened a dummy account and tried to get two direct debits to appear on it before the Halifax switch took place (there policy is you must have two DD to qualify for the incentive). Only one got setup. In fact, I was paid the incentive before the other account was even closed.

I am doing a few switches to get a number of incentives but juggling the direct debits can be a balls ache at times, especially when they don't appear. Just curious to see if it is something they actually monitor or as long as the previous account is closed, they will pay the incentive.

No it isn't. DDs are only required (to be paid out) if you want the ongoing Reward.

You'd be wise to learn to read (and understand) the T&Cs of any incentive offer before going on a switching spree.

ceredigion

Andrew_Ryan_89 wrote: »

Hi guys,

Do you actually need direct debits setup in order for the incentive to be paid? I opened a dummy account and tried to get two direct debits to appear on it before the Halifax switch took place (there policy is you must have two DD to qualify for the incentive). Only one got setup. In fact, I was paid the incentive before the other account was even closed.

I am doing a few switches to get a number of incentives but juggling the direct debits can be a balls ache at times, especially when they don't appear. Just curious to see if it is something they actually monitor or as long as the previous account is closed, they will pay the incentive.

Yes it maters
With regard to Halifax, I put it to you that you at wrong


Edit YB bet me to it,

PeacefulWaters

Andrew_Ryan_89 wrote: »

Do you actually need direct debits setup in order for the incentive to be paid?

It depends on the T&Cs of a specific offer.

I opened a dummy account and tried to get two direct debits to appear on it before the Halifax switch took place (there policy is you must have two DD to qualify for the incentive). Only one got setup. In fact, I was paid the incentive before the other account was even closed.

Recent Halifax switching offers haven't required direct debits. Historic ones have. To get the £3 monthly reward you need two direct debits. The reward is a separate thing to the switch.

I am doing a few switches to get a number of incentives but juggling the direct debits can be a balls ache at times, especially when they don't appear. Just curious to see if it is something they actually monitor or as long as the previous account is closed, they will pay the incentive.

Read the T&Cs. It can't be stressed enough.

JuicyJesus

Halifax paid me my switching cash before the switch even completed. My partner got hers (for a Current Account, not a Reward) in the same way despite her having just one direct debit on her source account (genuinely, not as part of some incentive grab).

My inference is that as soon as the switch is past the point of no return, where it can't be cancelled and the source account will definitely be closed and transferred as part of CASS, the cash is paid and the six months free overdraft is started. The switch and any Reward criteria are separate.

Andrew_Ryan_89

JuicyJesus wrote: »

Halifax paid me my switching cash before the switch even completed. My partner got hers (for a Current Account, not a Reward) in the same way despite her having just one direct debit on her source account (genuinely, not as part of some incentive grab).

My inference is that as soon as the switch is past the point of no return, where it can't be cancelled and the source account will definitely be closed and transferred as part of CASS, the cash is paid and the six months free overdraft is started. The switch and any Reward criteria are separate.

This happened to me too. I read the terms and it said two direct debits bit I was still given the award.

Norscbu

Andrew_Ryan_89 wrote: »

This happened to me too. I read the terms and it said two direct debits bit I was still given the award.

thats because DD's are not required for the halifax switch incentive

ceredigion

Andrew_Ryan_89 wrote: »

This happened to me too. I read the terms and it said two direct debits bit I was still given the award.

I suggest you go back to #2 and reed YB's second paragraph.

Westie983

Andrew_Ryan_89 wrote: »

This happened to me too. I read the terms and it said two direct debits bit I was still given the award.

You mean incentive and not award?, DD are needed to get the reward payment each month, but for the incentive to switch no DD are needed.