Switching to RBS

patch9495

I have recently switched to a RBS current account and deposited £1500 and logged into mobile banking to qualify for the £150 bonus.


My issue is the bonus can be paid anytime up until May 10th. Can I move the £1500 out and move elsewhere to generate interest or does it have to stay in the RBS account until the bonus is paid?

Sea_Shell

We've done the same and moved the £1500 out. It only needs to be deposited, not kept as a balance.

What if it were your salary. It'd be like them saying you can't spend it.

Cyclistdreams

You can move it out again - It just needs to hit the account to meet the minimum pay in requirement.

Kleb

I'm considering switching from the Tesco c/a - does the balance in the switched account (in my case £3,000) count as the 'deposit'? Or would I have to deposit an additional £1,500 to get the bonus?

YorkshireBoy

Kleb wrote: »

I'm considering switching from the Tesco c/a - does the balance in the switched account (in my case £3,000) count as the 'deposit'? Or would I have to deposit an additional £1,500 to get the bonus?

Question gets asked a lot on here. My answer would be why would you not fund with a separate £1.5K after the switch? It's not as though you don't have it.

Kleb

YorkshireBoy wrote: »

Question gets asked a lot on here. My answer would be why would you not fund with a separate £1.5K after the switch? It's not as though you don't have it.

If it gets asked a lot then it would be nice to have a definitive answer, wouldn't it?
You obviously don't know. Does anyone?

YorkshireBoy

Kleb wrote: »

If it gets asked a lot then it would be nice to have a definitive answer, wouldn't it?
You obviously don't know. Does anyone?

Any definitive answer would be found in the offer T&Cs, not on an internet forum. Since no such definitive answer is to be found in the offer T&Cs then the best advice is, like I suggested, to play safe isn't it?

colsten

Kleb wrote: »

You obviously don't know.

YorkshireBoy obviously doesn't know. That's sweet.

schiff

I'm thinking of switching a Bank of Scotland current account to RBS by the deadline. But there aren't and there won't be any of the seven bills that attract the 2% reward. I will be just happy to pay the fee.

There is a strong element of cheek and bare-faced opportunism in this lark of switching for cash-back, but these are depths I've not plumbed before.

PS: though I suppose Kleb's Tesco account is the same scenario.

sausage_time

I'd say a deposit is different from a transfer - the T&Cs refer to both. I'd deposit an extra £1500 before that deadline to be sure of meeting the terms.

latinaid

schiff wrote: »

I'm thinking of switching a Bank of Scotland current account to RBS by the deadline. But there aren't and there won't be any of the seven bills that attract the 2% reward. I will be just happy to pay the fee.

There is a strong element of cheek and bare-faced opportunism in this lark of switching for cash-back, but these are depths I've not plumbed before.

PS: though I suppose Kleb's Tesco account is the same scenario.

RBS do a basic no-fee bank account which will also pay the £150 switching bonus.