RBS switch bonus terms

GoldWings

Hi Gang

Just want People’s opinion on the exact meaning in the terms for the RBS switch
“As part of that application, you must transfer a non-RBS current account to your new eligible current account ”
Do you all read this as the account you want to switch in must be done during the application and not ‘anytime before April 12th’?
I only ask as the account I was going to switch in is still waiting for the HSBC bonus so don’t want to switch it yet, but also don’t want to miss the 8th March cut off date for RBS.
Do we think I’m out of luck/time this time round?

TIA

colsten

GoldWings wrote: »

Do you all read this as the account you want to switch in must be done during the application and not ‘anytime before April 12th’?

I don't. Did you read the switch offer T&Cs?

GoldWings

colsten wrote: »

I don't. Did you read the switch offer T&Cs?

Yup. That’s where I took that wording from.
Here’s the whole quote
“apply for a Select, Reward, Reward Silver, Reward Platinum or Reward Black account (‘eligible current account’) via rbs.co.uk, or through a branch, between 28 January 2019 and 8 March 2019. As part of that application, you must transfer a non-RBS current account to your new eligible current account (which includes closing your non-RBS current account and moving all your payment instructions to your eligible current account) using the Current Account Switch Service”

The ‘as part of that application’ phrase suggests it needs to be done at the point of applying?

colsten

Hint: If you apply for the switch after you opened an account, you are applying for the switch as an existing customer.

GoldWings

True, but the ‘Existing Customer’ part of the Ts and Cs is for accounts opened before 28th January.

colsten

GoldWings wrote: »

True, but the ‘Existing Customer’ part of the Ts and Cs is for accounts opened before 28th January.

Granted

So in your case, it looks as if you are snookered, unless you manage to fully open a donor account between now and the 8th. This is possible if you live near a Metro store and have a spare hour.

PRAISETHESUN

I would argue that as long as the switch completes by 12Apr then you should still be covered by the current offer - as long as you apply before 08Mar. You can set your switch date for up to a month in advance so plenty of time to be paid the HSBC bonus. Just make sure set your switch to commence on or before 04Apr as you will need 7 days for everything to go through!

latinaid

Is it necessary to have any payment instructions on the account being switched to RBS? The T&C say transfer a non-RBS current account to your new eligible current account (which includes closing your non-RBS current account and moving all your payment instructions to your eligible current account) using the Current Account Switch Service; - doesn't specify that you HAVE to have any payment instructions to be eligible.

badger09

latinaid wrote: »

Is it necessary to have any payment instructions on the account being switched to RBS? The T&C say transfer a non-RBS current account to your new eligible current account (which includes closing your non-RBS current account and moving all your payment instructions to your eligible current account) using the Current Account Switch Service; - doesn't specify that you HAVE to have any payment instructions to be eligible.

No. They are simply emphasising the need for a FULL switch, including any payment instructions, and closure of account using CASS