Free money for switching accounts with no direct debits?

InvestingNow

Is there any bank that gives you free money or high interest for switching accounts with no direct debits?

[Deleted User]

I don't think there are, I'm sure most have a minimum of 2 DD's required.

I am with Nationwide and that was the amount I had to transfer for the switch.

Dxxx

eskbanker

First Direct don't pay a cash incentive for switching anymore but do offer gifts, and also access to their 5% regular saver, with no DD requirement.

binaryuniverse

Natwest's recent offer didn't. By extension that probably also means RBS didn't either. But both have ended.

Barclay's didn't require to switch DDs to get their recent £14 (£11 net) per month offer. Although you DO need 2 DDs set up later to get the cash. That has also ended.

Halifax don't require DDs to be switched. They offer £75 at the moment. However, that does often go up to £125. So it could be worth waiting on that one. You also get £3 per month rewards, for paying in £750m but you must then set up 2 DDs on the account (don't need to be switched) to get the extra cash.

First Direct don't request DDs, but they aren't giving out straight cash anymore.

Zanderman

binaryuniverse wrote: »

Natwest's recent offer didn't. By extension that probably also means RBS didn't either. But both have ended.

Barclay's didn't require DDs to get their recent £14 (£11 net) per month offer. That has also ended.

Halifax don't require DDs to be switched. They offer £75 at the moment. However, that does often go up to £125. So it could be worth waiting on that one. You also get £3 per month rewards, for paying in £750m but you must then set up 2 DDs on the account (don't need to be switched) to get the extra cash.

First Direct don't request DDs, but they aren't giving out straight cash anymore.

Actually Barclays do require DDs, otherwise there are is no £11 'blue reward'. Not needed in the switched account but needed for the payments to happen.

binaryuniverse

You're quite right. I'll update the post.