Top Bank Accounts Discussion Area

JimmyTheWig

Cloudane wrote: »

Not sure about the cash incentive, I *think* from a bit of Googling you can just transfer an amount equal to or greater than the shortfall out to another non-FD account (your own or a close friend or relative's) and then transfer it back, and it considers it "income". So you'd get the £100. But I won't know for sure for a few months!

Before we switched to First Direct, they told me that you had to actually have a salary paid into the account. Funding from another account wouldn't count.
But during the switching process I left my salary going in to Halifax and transfered the money to FD... and they paid the incentive.

So I wouldn't bank on the above plan working, but it should do...

Cloudane

JimmyTheWig wrote: »

So I wouldn't bank on the above plan working

Ha ha.... for once this phrase is used literally

Yeah it'll be a bonus if it works, but really I picked FD for quality and will be staying there (not running off with a further 100 for leaving!) regardless. I've found the "moneysaving way" with banks to be not very worthwhile considering how important they are and how little benefit you generally get from the interest rate that a small handful still have.

Still, you ask your main income provider(s) to change the details yourself, not through them, so they don't really know where/which it's coming from. When doing a transfer I'm not sure if there's anything recorded except sort code, account number and reference text of where it came from. Not certain though.

KosmicPink225

Hiya
I am just in the process of applying to First Direct and hoping to get the £100 bonus. My salary alone does not quite reach the required threshold, however if I open a joint account with OH and his salary goes in as well would I be right in assuming that this meets their criteria? (Sorry if this is a really stupid question but am reorganising finances at present and my head is no longer on straight after reading umpteen t's & c's)

JimmyTheWig

KosmicPink225 wrote: »

Hiya
I am just in the process of applying to First Direct and hoping to get the £100 bonus. My salary alone does not quite reach the required threshold, however if I open a joint account with OH and his salary goes in as well would I be right in assuming that this meets their criteria? (Sorry if this is a really stupid question but am reorganising finances at present and my head is no longer on straight after reading umpteen t's & c's)

I certainly believe it does.

[I presume that you're transferring a real current account to them with various SOs/DDs.]

KosmicPink225

Hi JimmyTheWig

Yes current account being (hopefully) transferred from the Halifax

Thanks for the reply

Synonymous

Hi Guys

I did this deal with A&L before and genuinely switch my main current account and all DDs, SOs etc. I found their internet banking to be very shoddy, slow to run and slow to update balances, so when after the 0% overdraft ran out I got rid.

Over three months has passed now and I want to take advantage of the £100 offer again and the 0% overdraft for stoozing, but have no intention of using this as my current account. I know I don't have to use the switching service for my salary as I didn't last time.

So my question is, if I have an old bank account I no longer use, with a few standing orders on it, will this be enough for the switching service? It just says on the site that all DDs must be transferred, but what if you don't have any?

Anyone got any experience of this? Thanks in advance for your help!

webmasterpolo

Synonymous wrote: »

Hi Guys

ISo my question is, if I have an old bank account I no longer use, with a few standing orders on it, will this be enough for the switching service? It just says on the site that all DDs must be transferred, but what if you don't have any?

Anyone got any experience of this? Thanks in advance for your help!

Hi Synonymous

I do. I used an old account with no DD on only SO and they wrote to me 3months later and said no you don't get it as you didn't have any DD.

So my advice is to setup 2 DD to 2 charities at £2/mth on your old account. Once they have been taken then use that old account to switch to A+L. I know this works as I did this for my partners account.

I would also make sure you sign up through a cashback site to get your £45 / £50 extra cashback.

I have my own question which is how long after closing an A+L account can you open a new one and get the £100?

-Web

Synonymous

webmasterpolo wrote: »

Hi Synonymous

I would also make sure you sign up through a cashback site to get your £45 / £50 extra cashback.

I have my own question which is how long after closing an A+L account can you open a new one and get the £100?

-Web

Hi Web,

Thanks for that, I rung alliance and leicester to check and it has to be at least one direct debit, so I've change the details on one of my credit cards to an old HSBC account so once that's sorted I should be in business. Going to go through topcashback too for the £45. :T

In answer to your question, its three months before you are a 'new customer' again but I believe its for the whole group, so can't have anything with Santander or Abbey either.

webmasterpolo

OK well that's worth bearing in mind then. Make £400pa from Santander's marketing budget as long as you don't do any business with the group.

Now there's an incentive to use their competition lol.

-Web

Synonymous

Heh yeah, I doubt you could make the full £400 pa as you have to wait about two months for the bonus before you can cancel but its a great deal for us moneysavers. Their internet banking was so bad I reckon this is all they are good for anyway