Bank Switch Bonus - Min Amount Pay in Monthly Question

Merchandiser2367

Morning all,

Am new to switching and have opened 2 mule accounts to take advantage of offers.

My question is regarding the minimum pay in each month. HSBC's T&C's state you need to pay in £1750 minimum a month.

Can I just switch £1750 from my savings and then straight back out (literally within minutes) to satisfy this criteria?

Thanking you all in advance :beer:

Zanderman

Yes, though may not qualify if savings are with hsbc. Best to do the pay in and out from and to another bank

Merchandiser2367

Zanderman wrote: »

Yes, though may not qualify if savings are with hsbc. Best to do the pay in and out from and to another bank

Thanks for confirming! Unfortunately I didn't have 2 direct debits already set up on the account i am switching and need to do this prior to the switch the said on live chat. I thouhgt you could set up 2 direct debits within 30 days of switching to new account

So have set up 2 new ones but think will wait till first payment of each has come out just to make sure

YorkshireBoy

Merchandiser2367 wrote: »

Thanks for confirming! Unfortunately I didn't have 2 direct debits already set up on the account i am switching and need to do this prior to the switch the said on live chat. I thouhgt you could set up 2 direct debits within 30 days of switching to new account

So have set up 2 new ones but think will wait till first payment of each has come out just to make sure

Why not take the easy option of switching two standing orders instead?

Merchandiser2367

YorkshireBoy wrote: »

Why not take the easy option of switching two standing orders instead?

Thanks, didn't think of this! But long term, this will be a mule for lots of different banks so think quite a few specifically need direct debits so not too worried