Want to be a tart, am I doing this right?

Sunshine_and_Roses

Katiehound wrote: »

TSB Classic Plus 3% on £1.5k-
+ £5 cashback for 2 monthly DDs
+ £5 cashback every month if you spend with your debit card at least 20 times a month, including Apple and Android Pay.

To earn interest (which is paid monthly) just pay in a minimum of £500 a month and register for Internet Banking

Thanks for this, have applied :beer:

YorkshireBoy

clareski wrote: »

I have been checking T&C for banks but cannot see if there is a minimum term to be with the bank after you have switched, apart from M&S where you get the £5 as an incentive to stay.

You haven't read the HSBC incentive T&Cs.
Nor have you read the Nationwide incentive T&Cs.
Or if you have you haven't been very thorough.

YorkshireBoy

clareski wrote: »

Thanks for this, have applied :beer:

For one?...or for the 3 you're allowed?

Sunshine_and_Roses

YorkshireBoy wrote: »

You haven't read the HSBC incentive T&Cs.
Nor have you read the Nationwide incentive T&Cs.
Or if you have you haven't been very thorough.

My bad - I have only read the M&S and Halifax details, not looked into HSBC or Nationwide yet. Sorry, I think I am expecting people to be mind readers, and no, I have not been very thorough
Doing more research now into the two you have mentioned :beer:

Sunshine_and_Roses

YorkshireBoy wrote: »

For one?...or for the 3 you're allowed?

Just the one at the moment ** quickly looking at their website to see if I do another one for OH and a joint one... **

ValiantSon

clareski wrote: »

Thank you all for your comments, especially regarding the £1 monthly charity donations. I did not realise that it would cost so much for the charities to receive this donation. Wouldn't it be nice if the banks waived any set-up fees for charities?

I have been checking T&C for banks but cannot see if there is a minimum term to be with the bank after you have switched, apart from M&S where you get the £5 as an incentive to stay. Can I ask how long people have stayed with the 'switched' bank before switching again?

As YorkshireBoy has pointed out, there are some other banks which incentivise remaining, but in terms of having to stay for a set period to keep the switching bonus, I am unaware of any that do require a minimum period after the bonus is paid (although I'm happy to be corrected if I'm wrong). The answer, therefore, is to stay until you have received the bonus payment, and then switch away when the next suitable incentive comes along, this could be the very next working day, potentially.

Sunshine_and_Roses

Hope you don't mind me asking so many questions, I really appreciate all of your help.

I have looked at the DDs on my Santander 123 account, and it seems sensible for me to keep the ones that pay cashback in that account. That leaves me with 8 other to play with, mainly insurances and lottery donations. I was thinking of switching a couple of these to the second current account I have just set up with Santander, ready for the next switch.

I have my mortgage with HSBC, and under their T&C if you have an existing account with them you cannot apply for switching online, and will need to go into a branch or over the phone. This will be £150 incentive. I can pay in £1750 a month for 9 months and get an extra £50 for this. I already have internet banking for the mortgage so should not be too difficult for this.

This will tie me into M&S and HSBC accounts for up to a year, but for the linked accounts and extra bonuses this will be worth it.

The Nat West select account requires me to keep the account until at least 13th April, so now looking at some 'quick' accounts that I can take advantage of, before I look at this.

YorkshireBoy

clareski wrote: »

The Nat West select account requires me to keep the account until at least 13th April, so now looking at some 'quick' accounts that I can take advantage of, before I look at this.

I wouldn't hang about if you want the NatWest account. In fact I'm very surprised it's lasted so long!


Halifax is (or was last time I looked) very easy. Like Natwest, no DDs required. And not even any SOs. And that incentive is paid very quickly. Can't remember if you said you have it, or have had the incentive previously?

Katiehound

clareski wrote: »

I can pay in £1750 a month for 9 months and get an extra £50 for this. I already have internet banking for the mortgage so should not be too difficult for this.

Don't forget that the £1750 does not have to be one lump sum- say for example you have paid in £1K- you could withdraw £750 and then pay it back in. Total £1750. It also does not need to 'stay' ... but only visit!

Sunshine_and_Roses

YorkshireBoy wrote: »

Halifax is (or was last time I looked) very easy. Like Natwest, no DDs required. And not even any SOs. And that incentive is paid very quickly. Can't remember if you said you have it, or have had the incentive previously?

Just looking at this now, it seems too good to be true. It appears that I can have a current account with no DDs, SOs or even need a balance, switch the account to Halifax and get £75 within 7 days - am I reading that correctly?

The only accounts I have had with Halifax was their Easycash account, no bonuses for this. Still have the account with about a quid in it. Also have a credit card with them.