Switching old current accounds to get cash reward

chris9393

Apologies if this has already been asked before..

I'm currently banking with First Direct who I am very happy with however hold 3 other accounts with Tesco, Nationwide and TSB. All 3 of which I used to use a while back for their regular savers.

I no longer use all 3 of these banks now however all 3 are still active so I was thinking of taking advantage of the HSBC Current Account switch offer for £200 with my current TSB account.

Does it matter that my TSB account isn't technically my 'current' account? My plan would be to simply deposit £1,750 a month from FD into HSBC to meet the T&C's.

Thanks

eskbanker

There are two separate issues at play here.

On the one hand, what you suggest is compliant with the terms of the offer, assuming you don't need to make any false declarations when applying to HSBC.

On the other hand, HSBC are known for being picky with applicants and so there's no guarantee that compliance with published eligibility requirements will be adequate, i.e. they may not accept you....