MSE News: TSB offers bank switchers free £125, £5/mth cashback AND 3% interest

Molly4

Ok I'll give it a go. This is where my disloyal feeling comes into play because as an existing customer I feel bad opening an account for a few weeks and then closing it again. The Halifax are a good bank and I only want to open the TSB one because the account benefits are better. I've started completing the application and already I've had to tell "little white lies". I've said my reason for opening the account is for Savings. I've also said I'll only pay in a small amount and not the £750 required per month to qualify for the £3 reward. If this goes to plan I will only pay in one months payment before the account is closed by the TSB switch.

Molly4

I've only gone and done it. I have now opened a new account with the Halifax.


Why am I feeling so guilty.

schiff

molly57. wrote: »

I've only gone and done it. I have now opened a new account with the Halifax.

Why am I feeling so guilty.

Probably because basically you're a very nice person

After a year or so at this game you will come to realise that the banks treat nice persons no different from rippers off. Welcome to the club!

Molly4

Thank you for saying I'm a very nice person. I'm also very honest.


I know I'm only an account number to the bank nothing more.

schiff

molly57. wrote: »

Thank you for saying I'm a very nice person. I'm also very honest.

We were all like that Molly before Martin Lewis started to get to us

Molly4

Now I've got over my "guilty" feeling I thought I might open another account as back up. I was thinking about the Santander Everyday account with the iMutual £31 cashback. If I opt in from iMutual does anyone know how long the account has to stay open for to be able to get the cashback?

Molly4

On another point. I have found one direct debit to set up from new. Can I transfer a direct debit from an existing bank account to the new bank account without using any switching service? If I were to use a switching service do I have to switch all my direct debits in my existing account or can I choose which ones to move?

YorkshireBoy

molly57. wrote: »

Now I've got over my "guilty" feeling I thought I might open another account as back up. I was thinking about the Santander Everyday account with the iMutual £31 cashback. If I opt in from iMutual does anyone know how long the account has to stay open for to be able to get the cashback?

They appear to have some 'statistics' re payment timescales on their website regarding the account you want. Check them out.

On another point. I have found one direct debit to set up from new. Can I transfer a direct debit from an existing bank account to the new bank account without using any switching service?

Yes. Simply contact the DD originator.

If I were to use a switching service do I have to switch all my direct debits in my existing account or can I choose which ones to move?

If you used a partial switch service you can pick and choose. However, that's a recipe for disaster, because the timing of their request may not be suitable. For just one DD, do it yourself as I said above.

Molly4

Can I set up a direct debit to transfer money from one bank to another or does it have to be between myself and a company?

YorkshireBoy

molly57. wrote: »

Can I set up a direct debit to transfer money from one bank to another or does it have to be between myself and a company?

Yes you can, and no it doesn't.