Santander £130 switch offer

[Deleted User]

Catplan said:

MDMD said:

JeffMason said:

Can I / should I close this one and then open a new one to switch to from my TSB?
Or is there a better way to do this?

That is probably one of the worst things you could do as is expressly mentioned in the terms:

3.4 We reserve the right to not make any Cashback Payment where we suspect or are made aware that the Switcher Offer is being abused, for example, by closing an Old Account to switch back to us to receive the Cashback Payment.

I get what you’re saying about closing the account.

I might be wrong but I read this as they have an everyday account which is dormant with £5 in it. They’d like a 123lite account as primary account and would like to switch current TSB account into a 123lite account to get switching bonus. 

If that is the case then I think that leaves two options

upgrade the everyday account to 123lite, it’s possible to downgrade so I assume they’d allow upgrade.

open new 123lite account and switch into that, leave everyday account as is, until switching bonus is completed then do as you see fit, close or use as switching donor……

They'll get the switching bonus (for an existing account) on same terms for either type.

The real question is if they want another credit check and extra current account?

[Deleted User]

cymruchris said:

Deleted User said:

cymruchris said:

Deleted User said:

GTR_King said:

yeah same here but as i said everyday current accounts will be last on list for master cards,

ios app/online banking seems easy to use

Seems a little bit stupid to provide a fated product (Visa Debit) to new accounts. Not only are you imposing a pointless card change a few months down the line but the Visa cards look old and dated - both negatives for a new customer.

I don't think the majority of customers would notice which card they got - and if a new one turned up in the post to replace it a few months down the line - wouldn't be particularly bothered. It's mainly people like the regular forum users here that would analyse every intricate detail of an offer, rather than the wider average public.

It's called good customer service and onboarding.

Nothing to do with MSE considerations.

Again, I don't think most people would notice or care that a card changed a few months down the line, as long as they had a working one. Bad customer service is not paying your direct debit or sending your card to the wrong address several times in a row. Bad customer service isn't sending a new card to replace an old card when it is due to expire, no matter whether it's 6 months or 6 years from now. But everyone has a different view of what good customer service is - and that's probably where both our views differ - but there we are, that's life eh?

Totally but then I wouldn't term 'most people' when I noting my own opinion.  I've worked in roles looking at the customer journey including onboarding - Any bank doing things like not paying your direct debit or sending your card to the wrong address is not bad customer service, it's incompetence. 

JeffMason

MDMD said:

JeffMason said:

Can I / should I close this one and then open a new one to switch to from my TSB?
Or is there a better way to do this?

That is probably one of the worst things you could do as is expressly mentioned in the terms:

3.4 We reserve the right to not make any Cashback Payment where we suspect or are made aware that the Switcher Offer is being abused, for example, by closing an Old Account to switch back to us to receive the Cashback Payment.

I wouldn't be abusing the switching offer though. I've never had a switching bonus before and I would be switching from my actual main current account to use the new santander account as my main account. The Sandander account I currently have would just be closed.

I am worried that it might look like what the terms say not to do though and would get flagged up and be a problem.

JeffMason

Catplan said:

MDMD said:

JeffMason said:

Can I / should I close this one and then open a new one to switch to from my TSB?
Or is there a better way to do this?

That is probably one of the worst things you could do as is expressly mentioned in the terms:

3.4 We reserve the right to not make any Cashback Payment where we suspect or are made aware that the Switcher Offer is being abused, for example, by closing an Old Account to switch back to us to receive the Cashback Payment.

I get what you’re saying about closing the account.

I might be wrong but I read this as they have an everyday account which is dormant with £5 in it. They’d like a 123lite account as primary account and would like to switch current TSB account into a 123lite account to get switching bonus. 

If that is the case then I think that leaves two options

upgrade the everyday account to 123lite, it’s possible to downgrade so I assume they’d allow upgrade.

open new 123lite account and switch into that, leave everyday account as is, until switching bonus is completed then do as you see fit, close or use as switching donor……

That is exactly right. I've not touched it since I stopped using it as a savings account for 20k.

So I could upgrade the everyday account and get the switching bonus? They say something about this I think, but didn't it involve going into a branch and having to book an appointment etc. Sounds more complicated then just opening another account.

But can I have the everyday account as well and still get the switching bonus? I'm happy to just close it later if that's allowed.

JeffMason

Deleted User said:

Catplan said:

MDMD said:

JeffMason said:

Can I / should I close this one and then open a new one to switch to from my TSB?
Or is there a better way to do this?

That is probably one of the worst things you could do as is expressly mentioned in the terms:

3.4 We reserve the right to not make any Cashback Payment where we suspect or are made aware that the Switcher Offer is being abused, for example, by closing an Old Account to switch back to us to receive the Cashback Payment.

I get what you’re saying about closing the account.

I might be wrong but I read this as they have an everyday account which is dormant with £5 in it. They’d like a 123lite account as primary account and would like to switch current TSB account into a 123lite account to get switching bonus. 

If that is the case then I think that leaves two options

upgrade the everyday account to 123lite, it’s possible to downgrade so I assume they’d allow upgrade.

open new 123lite account and switch into that, leave everyday account as is, until switching bonus is completed then do as you see fit, close or use as switching donor……

They'll get the switching bonus (for an existing account) on same terms for either type.

The real question is if they want another credit check and extra current account?

I'm not sure what you mean here. Can you explain further?
And what is the issue with having another credit check and current account?

Daliah

JeffMason said:

And what is the issue with having another credit check and current account?

It's only a potential issue for somebody who is planning on applying for a large credit facility in the next 6 or so months. 

danlightbulb

When you switch, how does the salary switch work? With HSBC there seems to be no option to opt out of this particular component and I don't want my salary switched because it goes into a different account, not the one Im switching from?

Daliah

danlightbulb said:

When you switch, how does the salary switch work? With HSBC there seems to be no option to opt out of this particular component and I don't want my salary switched because it goes into a different account, not the one Im switching from?

Everything on your old account gets switched, and your old account is closed down. There is no option of any partial CASS switch.

If you want your salary, or any payment, go into a different account, you can instruct your employer / the payee to pay into a different sort code / account number either before, or after the switch. 

An even simpler solution would be that you just let the switch happen. Then every time you get a payment into the new account, you can just transfer money to a different account, either manually or by SO.

Zanderman

danlightbulb said:

When you switch, how does the salary switch work? With HSBC there seems to be no option to opt out of this particular component and I don't want my salary switched because it goes into a different account, not the one Im switching from?

If your salary goes into a different account to the one you're switching it will be unaffected. 

You're only switching one account.

The only payments etc that will be affected will be the ones on that account.  Not any on another one.

Catplan

JeffMason said:

Catplan said:

MDMD said:

JeffMason said:

Can I / should I close this one and then open a new one to switch to from my TSB?
Or is there a better way to do this?

That is probably one of the worst things you could do as is expressly mentioned in the terms:

3.4 We reserve the right to not make any Cashback Payment where we suspect or are made aware that the Switcher Offer is being abused, for example, by closing an Old Account to switch back to us to receive the Cashback Payment.

I get what you’re saying about closing the account.

I might be wrong but I read this as they have an everyday account which is dormant with £5 in it. They’d like a 123lite account as primary account and would like to switch current TSB account into a 123lite account to get switching bonus. 

If that is the case then I think that leaves two options

upgrade the everyday account to 123lite, it’s possible to downgrade so I assume they’d allow upgrade.

open new 123lite account and switch into that, leave everyday account as is, until switching bonus is completed then do as you see fit, close or use as switching donor……

That is exactly right. I've not touched it since I stopped using it as a savings account for 20k.

So I could upgrade the everyday account and get the switching bonus? They say something about this I think, but didn't it involve going into a branch and having to book an appointment etc. Sounds more complicated then just opening another account. 

Yes it should be possible to do this. Correct at the start they said in branch however it’s now a phone call I think the number is on page 4, takes ten mins, might take longer as you wish to upgrade to 123lite.

But can I have the everyday account as well and still get the switching bonus? I'm happy to just close it later if that's allowed.

yes you can open new account keeping old.

I guess you want the 123lite for the cash back? I make £3 a month after they£2 charge so £36 a year.

Answers above.