changed to virgin for freebies.now old bank offers £125 cashback.

cattom

Hi. I changed current account from tsb to virgin because tsb stopped giving interest on the balance. so thats fine. now tsb are offering £125 cashback for new customers. but does that include returning customers? 
I wonder are there people out there that actually constantly change accounts to get the goodies on offer? I suppose there would be a few quid to be made out of it. might get a bit confusing though.
the other incentive of course was the virgin wine offer.

Costabit

cattom said:

Hi. I changed current account from tsb to virgin because tsb stopped giving interest on the balance. so thats fine. now tsb are offering £125 cashback for new customers. but does that include returning customers? 
I wonder are there people out there that actually constantly change accounts to get the goodies on offer? I suppose there would be a few quid to be made out of it. might get a bit confusing though.
the other incentive of course was the virgin wine offer.

TSB offering £125 cash back ???

Alexland

Are you perhaps confusing with the HSBC £125 switch offer?

cattom

I Got that completely wrong its hsbc. but no good to me anyway, because you need to pay in £1750 pcm to qualify, so while I'm furloughed I don't qualify. okay forget I spoke.

kimwp

In answer to your question, yes, there are people who frequently switch about to take advantage of the offers - it works even better if you have a number of accounts to switch around (and completely legitimate).

Notnewnotold

cattom said:

I Got that completely wrong its hsbc. but no good to me anyway, because you need to pay in £1750 pcm to qualify, so while I'm furloughed I don't qualify. okay forget I spoke.

Really, so you couldn't pay in £250 and then withdraw it 7 times per month (just one possible example...)?

cattom

I could do that, if I could be bothered.

Notnewnotold

cattom said:

I could do that, if I could be bothered.

I know the feeling.

But at least you COULD do it, so not really a question of eligibility...

wiseonesomeofthetime

I very much doubt you would be accepted by HSBC for that account if your income is significantly lower than £1750pm, though, as mentioned above, those that have been accepted can reach the £1750 in multiple deposits.

It's getting past the HSBC Yes/No AI first.

cattom

wiseonesomeofthetime said:

I very much doubt you would be accepted by HSBC for that account if your income is significantly lower than £1750pm, though, as mentioned above, those that have been accepted can reach the £1750 in multiple deposits.

It's getting past the HSBC Yes/No AI first.

yes that's what I was thinking. as I said, while I'm furloughed my income doesn't make that threshold. and I can't be bothered to draw money out to pay it back in, to make £125. so for the time being I'll stick with the virgin account I seems to be the best going for my purposes.

sabid

I did the same moved from TSB to Virgin and was refused the wine offer as  I don't have a good enough signal in my area or a smart enough phone to download the mobile app.