Natwest £125 incentive

Toomuchdebt

No_6 wrote: »

You POP money into a bank account to make it feel REAL

What? I don't quite know what you're getting at. I don't have a spare £1500 to just stick into a bank account to sit there and not be used. I'm not popping money into it to make it feel real as you said. I'm going to be using it like I use my other account. I just wanted to make sure that I didn't have to pay £1500 in and LEAVE it there, as I can't afford to do so.

colsten

No_6 wrote: »

You POP money into a bank account to make it feel REAL

Where in the NatWest T&Cs do they specify that their current accounts must "feel REAL", and that you only get the switching incentive if your account does "feel REAL"? How do you tell whether a current account "feels REAL"? And how do you POP money into an account - is POP an abbreviation of a specific deposit method?

Yorkshire_Pud

Toomuchdebt wrote: »

I can see I need to pay in £1500 before March 16th...my question is do I have to keep it there or can I transfer it out and back in again? I can't spare £1500 just to sit in the bank account not being used.

£1500 is the total not a lump sum, so you can, as an example, deposit and withdraw £400 four times in one day exceeding the one time requirement on the Select account!

People often think the banks can make you use a current account like a savings account, its not all you have to do is meet the funding requirement, the bank can NEVER make you KEEP YOUR money in a current account (but don't go overdrawn!). I've done the £1500 deposit and got caught by the fraud dept transferring it out again. At the moment have £45 in the account and unlike some I do like to spend on it, transfer money in and out and I will keep the account as I don't like to throw the gift back in the face of NatWest.

Also the myth of the 'main' current account mentioned later in the thread. There is no real definition. For me it's a) the account I use the most for DDs, SOs, bill payments but right now its the NatWest Select account because its going to pay me £125 (I hope). The banks can't make you use an account more than you want as long as you meet their T&C, NatWest didn't ask for DDs etc or that its a main account. I have about 15 main current accounts:)

Yorkshire_Pud

colsten wrote: »

Where in the NatWest T&Cs do they specify that their current accounts must "feel REAL", and that you only get the switching incentive if your account does "feel REAL"? How do you tell whether a current account "feels REAL"? And how do you POP money into an account - is POP an abbreviation of a specific deposit method?

No_6 is having a pop at Katiehound. Maybe prefers actuarial language to pop fiction;) it makes him/her feel mighty real.

Toomuchdebt

Yorkshire_Pud wrote: »

unlike some I do like to spend on it, transfer money in and out and I will keep the account as I don't like to throw the gift back in the face of NatWest.

Thank you, yes I will keep it too. I have 5 current accounts (one is being switched to Natwest) -one is for all money coming in(Barclays), one is for bills(Santander because it gives me cash back), one is for savings (TSB because it has a higher interest rate than my actual savings account) , one (Nationwide)for my ex to pay child maintenance in to, and now Natwest. I'm liking their website right now, and their app. I haven't made any payments out of it yet, just paid in. Technically I don't need all these accounts but before I found YNAB I found it very helpful to have the money divided up like this.

Katiehound

Yorkshire_Pud wrote: »

No_6 is having a pop at Katiehound. Maybe prefers actuarial language to pop fiction;) it makes him/her feel mighty real.

Glad that makes him (or her!) feel good having a pop at me!
Am I bovered... I think not. If he/she can't contribute anything worthwhile to the discussion- why bovver??