Switching to RBS

colsten

actd wrote: »

just need my standing order to hit the account

Out of interest, why are you using a standing order to deposit money into your new RBS account? How much is it for, and how long does it run for?

actd

I've set up a standing order for £1600 per month into RBS. All my household bills are now set up from RBS so I get the benefits of the rewards, plus a bit extra so I use the debit card for fuel. That covers me for the joining bonus. Meanwhile my salary is paid into my nationwide account and there's a few small charity direct debits from there so I have the option of doing a bank switch for that account to a different bank and getting a second switch bonus.

patch9495

Morning All,


I have completed the switch and made my initial deposit of £1500 and withdrawn £1499 to invest elsewhere and leave a positive balance in the account of £1


It seems even though I cancelled all my Standing Orders before switching one remained on the account, of which I only found out this morning via text that I was "overdrawn" by £199.
I've moved £200 into RBS to cover this however havn't yet received the money in my HSBC account which is where the Standing Order was set to go. Having spoken to RBS they say the reason for this is because when the SO was made there were insufficient funds in the account, and that now I have transferred funds in the payment should be made


2 questions


1) When will the £200 arrive into my HSBC
2) Will I still be eligible for the £150 switching bonus now I have been overdrawn through no fault of my own


Thanks in advance

eskbanker

patch9495 wrote: »

1) When will the £200 arrive into my HSBC

When did RBS say the SO would be reprocessed? It should be practically instantaneous after that.

patch9495 wrote: »

2) Will I still be eligible for the £150 switching bonus now I have been overdrawn through no fault of my own

How would you demonstrate that it was through no fault of your own? The fact that a SO was switched presumably signifies that it wasn't properly cancelled first, which is how RBS came to know about it, so it would appear that your beef is with your previous bank? Having said that, I don't see anything from a quick squint at the switching offer Ts & Cs about the incentive being conditional on not going overdrawn and in any case RBS may be one of the banks that only considers end of day balances for such purposes (check your Ts & Cs).

patch9495

They said it would be reprocessed throughout the day, however on face value it looks as if the funds had already left my account hence the -199 balance. Unfortunately they didn't offer a time which is why I wanted to see if anyone on here knew

polymaff

eskbanker has it right. The conditions for the £150 are given in post #15 above - and check your end-of-day balance to see if you were technically overdrawn or not.

logie48

Deadline today I'm sure for this switching bonus.

penners324

T&Cs said switch by 12th April, bonus by 19th May (or there abouts)

CuppaAndBreath

Have people received their bonus yet out of interest? :A

Ed-1

CuppaAndBreath wrote: »

Have people received their bonus yet out of interest? :A

Have you? Paid by 10th May under the T&Cs.