Can I get switching bonuses by closing both of my Tesco current accounts?

zzzt

I was early enough that I got the 3% interest on £3k without the need for any direct debits. I have two of these Tesco accounts, with £3k sitting in each, unused, just earning the interest.


Now that they are getting rid of the 3% interest, I was wondering if I could use each one of these accounts individually to get a switching bonus from two different banks?


I don't really know if it's frowned upon, or even possible. Does it matter that there is not really anything to switch (other than the money in it)? So long as I give them a sort code and account number of a current account in my name that I want them to close? Will the bank I switch to find it suspicious and know I'm taking advantage, or even not let me do it?

masonic

Yes it is possible. It may even be possible to get a switching bonus from both accounts by switching to the same bank. You would need to refer to the T&Cs of the switching offer you were interested in using.

Willing2Learn

It does not matter "that there is not really anything to switch". As long as you satisfy the switch incentive terms in there entirety, (eg funding requirements, DD requirements), then everything will be fine. I take advantage of the t & c's all the time.

Edit: Darn it. Beaten to the post by masonic