Switching to RBS

actd

I've been running 2 separate bank accounts for a while, one barely used Post Office current account, so finally decided to do something about it and switched a couple of extra standing orders into Post Office (that was fun!!) and started a switch with RBS. The idea is that once it's open, I'll transfer most of my household bills to this and set up a standing order of minimum £1500 into this account to cover them - that should get me the switch bonus. Meanwhile, I'm still running my main account with Nationwide, which is where my salary goes, so I may then switch this to HSBC and get their switch bonus as well and keep this running. I find it easy to have a single lump sum coming out of my main account anyway to cover all bills and anything left is for me to use for leisure/savings, and I get two switching bonuses.
It also means, that in a year or so, I'm all ready to switch both again, should I wish to do so.

suedurnimm

Could anyone please confirm whether it is possible for both me and my partner (living at same address) to both get the switching bonus with an account each?

steve0069

To answer Kleb's question, your switched balance from the current account to the RBS current account does count towards the deposit requirements for switching bonus.

So if you transfer Tesco current account with £3000 then this will cover the £1500 deposit requirements and you do not need to deposit separately.:T

polymaff

Let's be precise, and sensible, about this.

It makes sense that you ensure that you obey the following:

after your eligible current account is opened, you must also:
(i) deposit £1,500 into your eligible current account; and
(ii) log into our digital or mobile banking service,
before 12 April 2019.

I'd say that, particularly for late-comers, this implies that you should temporarily deposit at least £1,500 into the account somewhat ahead of 12 April 2019 so that if RBS fouls up the switch, you have them over a barrel as to who mucked things up.

And anyone who has tried to use RBS's crazy digidocs system as part of opening the eligible current account will know that RBS are world leaders in the fouling-up industry.

After all, the £1,500 doesn't have to stay there for more than a millisecond.

18cc

I agree with Polymaff - would you either 1. deposit £1500 after the switch, withdraw it, get your bonus OR 2. don't deposit £1500, not get your switching bonus, spend the next 'n' months arguing with customer services that their T&Cs are open to interpretation....

If you really want a good read on the subject I refer you to the NatWest switching thread of last year where the subject was discussed at length...with no certain conclusion.

YorkshireBoy

18cc wrote: »

2. don't deposit £1500, not get your switching bonus, spend the next 'n' months arguing with customer services that their T&Cs are open to interpretation....

...and saying that some anonymous poster called 'steve0069' on an internet forum said it would be OK.

All of which I attempted to put to Kleb over a week ago (posts 5 & 7 above), but they weren't having any of it!

ET18

My bonus got paid within days of the switch, so luckily don't have to wait until May 10th

violetmva

Does anyone know if i qualify for the bonus as i applied on the 7th of March and today they started the switch. i mean i was fed up with my previous bank and would've switched anyway, but it wil be nice to get the bonus. Thank you!

PRAISETHESUN

violetmva wrote: »

Does anyone know if i qualify for the bonus as i applied on the 7th of March and today they started the switch. i mean i was fed up with my previous bank and would've switched anyway, but it wil be nice to get the bonus. Thank you!

The wording of the offer states that you need to only apply before 08Mar and elect to switch as a part of that application, as well as then depositing £1500 and log into internet banking by 12Apr. You might need to contact RBS to confirm but I would think that you should probably be okay, as long as you meet all the terms by 12Apr.

actd

polymaff wrote: »

Let's be precise, and sensible, about this.

It makes sense that you ensure that you obey the following:

after your eligible current account is opened, you must also:
(i) deposit £1,500 into your eligible current account; and
(ii) log into our digital or mobile banking service,
before 12 April 2019.

I'd say that, particularly for late-comers, this implies that you should temporarily deposit at least £1,500 into the account somewhat ahead of 12 April 2019 so that if RBS fouls up the switch, you have them over a barrel as to who mucked things up.

And anyone who has tried to use RBS's crazy digidocs system as part of opening the eligible current account will know that RBS are world leaders in the fouling-up industry.

After all, the £1,500 doesn't have to stay there for more than a millisecond.

That digidocs system is definitely something else. Amazing amount of emails and paperwork for the transfer, I'm not sure it was all done within 7 days, but it may be that the 7 days is from the confirmation of opening the account. All done now - just need my standing order to hit the account and hopefully the bonus will follow shortly after.