Santander £130 switch offer

[Deleted User]

danlightbulb said:

swanfan02 said:

danlightbulb said:

Daliah said:

danlightbulb said:

Daliah said:

danlightbulb said:

Zanderman said:

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.

How is salary linked to a bank account then? Its a payment IN, not a standing order or DD?

When you complete the application they ask for your employer details.

Your employer pays you into the sort code and account number that you give to them.

Your employer details during the application process might get used to verify your identity (e.g. they ring your employer and ask to be put through to you). The employer details will 100% certainly not be used to make your employer pay your salary into the new bank account.

Then how do they inform the employer to redirect the salary into the new account if it was being paid into the old account?

Answers to this and other questions can be found on the CASS website

Yes I just found this also. Its not really a 'switch' then is it, misleading term really. I.e its not a proactive action from the new bank.

So, what would you define as a switch then? Given that 99.9% of people would? I’d be very interested in your definition of ‘a misleading term’ as you put it? 

Right but when you go to open an account, the wording says that the switching service will switch your bank account with your employer. That's not technically true is it. They don't 'move' your nominated bank account with your employer in the same way as they transfer your standing orders and direct debits. Its just a redirect service for payments in when they hit a closed account, and if you don't have your salary paid in to the account you're switching from, then nothing will happen with your employer. It doesn't say this in the text when you apply for the account, it says that the service WILL switch your salary.

So to answer your question, it should differentiate between what is actively 'switched' and what is simply redirected.

They also tell the depositor that their account credit has been redirected. They may update their records automatically or contact you to authorise it to do so.

wolvoman

PRAISETHESUN said:That's my take on the matter as well, given they specifically mention the "closing only to switch back" as an example in their T&Cs - I'm going to keep both my current and new Santander accounts open until the incentive is paid out (even though I already had my existing Santander account set up as a donor for switching!).

I recently switched a brand new Santander Everyday Current Account OUT to Nationwide for the switch bonus.
I thought about switching BACK to Santander from Nationwide, but to my existing Santander 123 Lite, which I've held for 10 years+.
Does that sound like a way round the 'fair usage' terms of the switch?

DragonQ

Daliah said:

DragonQ said:

The only terrible thing about this offer is existing customers need to book a branch appointment, for which there is a 3 week waiting list (at least where I live). Absolutely absurd that switching to an existing account can't be done online.

As has been mentioned in this thread several times, existing customers can request the switch over the phone - -  and are actually often turned away if they try to do it in branch.

Well that's stupid since their website says it must be done in branch! Thanks for the tip.

hardleyouth

God I already regret registering - account gets approved and then I immediately get an email containing a 'P7' form which I have to print, fill in, and send back with photocopies of my ID.  Apparently this is because they think I already have an account with them which I shouldn't do, I had a HTB with them yonks ago which I closed and moved elsewhere. 

I don't have access to a printer or a photocopier - what a faff!  Customer services the usual 'our teams are very busy at the moment' bla bla. 

Neruda

hardleyouth said:

God I already regret registering - account gets approved and then I immediately get an email containing a 'P7' form which I have to print, fill in, and send back with photocopies of my ID.  Apparently this is because they think I already have an account with them which I shouldn't do, I had a HTB with them yonks ago which I closed and moved elsewhere. 

I don't have access to a printer or a photocopier - what a faff!  Customer services the usual 'our teams are very busy at the moment' bla bla. 

I suggest you go to a branch and let the staff there do the printing and photocopying.

PRAISETHESUN

wolvoman said:

PRAISETHESUN said:That's my take on the matter as well, given they specifically mention the "closing only to switch back" as an example in their T&Cs - I'm going to keep both my current and new Santander accounts open until the incentive is paid out (even though I already had my existing Santander account set up as a donor for switching!).

I recently switched a brand new Santander Everyday Current Account OUT to Nationwide for the switch bonus.
I thought about switching BACK to Santander from Nationwide, but to my existing Santander 123 Lite, which I've held for 10 years+.
Does that sound like a way round the 'fair usage' terms of the switch?

I'm just being overly cautious, given the terms of the offer seem to be open to some level of interpretation/discretion from Santander in how they choose to enforce/not enforce the terms. It's probably a lot less strict than I'm making it out to be, but since I have spare accounts at my disposal that I'm not likely to need in a hurry, I figure "why not?".

What you're proposing sounds fairly reasonable to me, particularly switching into a long-standing account, but the Santander-Nationwide-Santander switch chain could raise an eyebrow if anyone looks at it too closely. If you have a spare account from a bank not with Nationwide that might be slightly better, but ultimately you don't really know how Santander will interpret things so you might as well just do it and see what happens - better than not switching at all.

Daliah

danlightbulb said:

swanfan02 said:

danlightbulb said:

Daliah said:

danlightbulb said:

Daliah said:

danlightbulb said:

Zanderman said:

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.

How is salary linked to a bank account then? Its a payment IN, not a standing order or DD?

When you complete the application they ask for your employer details.

Your employer pays you into the sort code and account number that you give to them.

Your employer details during the application process might get used to verify your identity (e.g. they ring your employer and ask to be put through to you). The employer details will 100% certainly not be used to make your employer pay your salary into the new bank account.

Then how do they inform the employer to redirect the salary into the new account if it was being paid into the old account?

Answers to this and other questions can be found on the CASS website

Yes I just found this also. Its not really a 'switch' then is it, misleading term really. I.e its not a proactive action from the new bank.

So, what would you define as a switch then? Given that 99.9% of people would? I’d be very interested in your definition of ‘a misleading term’ as you put it? 

Right but when you go to open an account, the wording says that the switching service will switch your bank account with your employer. That's not technically true is it. They don't 'move' your nominated bank account with your employer in the same way as they transfer your standing orders and direct debits. Its just a redirect service for payments in when they hit a closed account, and if you don't have your salary paid in to the account you're switching from, then nothing will happen with your employer. It doesn't say this in the text when you apply for the account, it says that the service WILL switch your salary.

So to answer your question, it should differentiate between what is actively 'switched' and what is simply redirected.

You are massively over-thinking this. Everybody gets asked for their employer during the application for a current account, even people who are not employed, for example because they are a stay-at-home-parent, self employed, or retired. This question gets asked regardless of whether you request a switch later on or not.

Everybody requesting a switch also gets told what happens with payments arriving for the account that gets switched. If you have payments going into (or coming out of) another account, whether at a different or at the same bank, these will not be switched. Can I refer you back to the CASS website which explains the switch process in detail.

Zanderman

danlightbulb said:

swanfan02 said:

danlightbulb said:

Daliah said:

danlightbulb said:

Daliah said:

danlightbulb said:

Zanderman said:

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.

How is salary linked to a bank account then? Its a payment IN, not a standing order or DD?

When you complete the application they ask for your employer details.

Your employer pays you into the sort code and account number that you give to them.

Your employer details during the application process might get used to verify your identity (e.g. they ring your employer and ask to be put through to you). The employer details will 100% certainly not be used to make your employer pay your salary into the new bank account.

Then how do they inform the employer to redirect the salary into the new account if it was being paid into the old account?

Answers to this and other questions can be found on the CASS website

Yes I just found this also. Its not really a 'switch' then is it, misleading term really. I.e its not a proactive action from the new bank.

So, what would you define as a switch then? Given that 99.9% of people would? I’d be very interested in your definition of ‘a misleading term’ as you put it? 

Right but when you go to open an account, the wording says that the switching service will switch your bank account with your employer. That's not technically true is it. They don't 'move' your nominated bank account with your employer in the same way as they transfer your standing orders and direct debits. Its just a redirect service for payments in when they hit a closed account, and if you don't have your salary paid in to the account you're switching from, then nothing will happen with your employer. It doesn't say this in the text when you apply for the account, it says that the service WILL switch your salary.

So to answer your question, it should differentiate between what is actively 'switched' and what is simply redirected.

As Daliah has pointed out, you're getting quite mixed up here.  Yes, the switching service says it will switch your salary.  And it will.  If your salary is paid into that account.  It's a generic promise that is covering the (reasonable) possibility that your salary is paid into that account. 

But yours isn't paid into that account is it?  So your salary will not be switched.  As you aren't altering the salary account at all. 

What will be switched are payments related to the account you are switching.  Nothing else.  The switching service merely clones the account.  It doesn't - and couldn't possibly - add features from another unrelated one. 

Sensory

danlightbulb said:

swanfan02 said:

danlightbulb said:

Daliah said:

danlightbulb said:

Daliah said:

danlightbulb said:

Zanderman said:

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.

How is salary linked to a bank account then? Its a payment IN, not a standing order or DD?

When you complete the application they ask for your employer details.

Your employer pays you into the sort code and account number that you give to them.

Your employer details during the application process might get used to verify your identity (e.g. they ring your employer and ask to be put through to you). The employer details will 100% certainly not be used to make your employer pay your salary into the new bank account.

Then how do they inform the employer to redirect the salary into the new account if it was being paid into the old account?

Answers to this and other questions can be found on the CASS website

Yes I just found this also. Its not really a 'switch' then is it, misleading term really. I.e its not a proactive action from the new bank.

So, what would you define as a switch then? Given that 99.9% of people would? I’d be very interested in your definition of ‘a misleading term’ as you put it? 

Right but when you go to open an account, the wording says that the switching service will switch your bank account with your employer. That's not technically true is it. They don't 'move' your nominated bank account with your employer in the same way as they transfer your standing orders and direct debits. Its just a redirect service for payments in when they hit a closed account, and if you don't have your salary paid in to the account you're switching from, then nothing will happen with your employer. It doesn't say this in the text when you apply for the account, it says that the service WILL switch your salary.

So to answer your question, it should differentiate between what is actively 'switched' and what is simply redirected.

It does differentiate when you read further details. You’re taking issue with one sentence in one summarised section that isn’t as sufficiently detailed as you like it. I highly doubt they’re going to change their wording even if you try to complain.

ischris85

hardleyouth said:

God I already regret registering - account gets approved and then I immediately get an email containing a 'P7' form which I have to print, fill in, and send back with photocopies of my ID.  Apparently this is because they think I already have an account with them which I shouldn't do, I had a HTB with them yonks ago which I closed and moved elsewhere. 

I don't have access to a printer or a photocopier - what a faff!  Customer services the usual 'our teams are very busy at the moment' bla bla. 

I had exactly same thing - took my passport and drivers license into my nearest branch. They faxed a copy to the accounts opening team.