Bank Switching with a separate account

[Deleted User]

Hi all,

First post here but I did a search and couldn't find the same question answered anywhere.

I currently bank with Barclays and have done so for many years, and I wish to remain with them for the majority of my banking needs. However there is a fair amount of money to be made from switching, which I would like to take advantage of.

I recently opened a Lloyds Classic current account that I haven't used yet. Am I correct in thinking that I can amend two or more direct debits so that they come out of this account instead of Barclays, and then use the switching service to switch from the Lloyds account to a different bank that offers a bonus? Would this count as a 'full' switch?

In terms of funding the new account with the required minimum monthly pay-in, I was going to transfer the money from my emergency fund (which is held in a Barclays savings account), and then transfer it back out after a couple of days.

Would this work to qualify for the switching bonus?

Thanks in advance for your replies.

NoMore

Yes and I'm surprised your search didn't turn up an answer, as use of 'donor' accounts like these to qualify for switching bonuses are recommended fairly often on the forum.

[Deleted User]

I think I had trouble searching because I couldn't think of a way to phrase it. Thanks fot the reply.