Switching Bank Accounts

savers74

Hello Everyone I'm after some advice on switching Bank Account , Currently banking with Santander and would like to swap as I’ve read Banks are giving incentives to switch I only have 1 direct debit payment and a lot of these Accounts require 2 direct debit payments , anyone in a similar situation or could steer me In the Right direction of an Account that would be Suitable .

eskbanker

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/#switch summarises the main terms of the switching offers currently available, although you need to check those published by each provider for the definitive position.

https://forums.moneysavingexpert.com/discussion/5734632/savings-accounts-accepting-dds#latest is a long-running thread discussing ways of 'manufacturing' direct debits to satisfy such requirements....

savers74

Still no options open for new Accounts that only have 1 direct debit coming out of your Account .

eskbanker

savers74 said:

Still no options open for new Accounts that only have 1 direct debit coming out of your Account .

Nobody on here can invent offers that happen to suit your specific circumstances - you can see how easy it is to qualify for the current incentives but always have the option of electing not to and missing out, your choice!

kaMelo

savers74 said:

Still no options open for new Accounts set up that only have 1 direct debit coming out of your Account .

Set up a second direct debit, there are many options as discussed in the thread linked above.

PRAISETHESUN

Agreed - plenty of easy options from temporarily moving around household bill/credit card DDs, etc... as discussed in the thread @eskbanker has linked.

alpaco47

When you switch banks and the bonus has been paid, can you switch again to another bank and get another bonus from them?

Zanderman

alpaco47 said:

When you switch banks and the bonus has been paid, can you switch again to another bank and get another bonus from them?

Yes, of course you can.

But you need to think about timing - for example check that the original switching terms don't state that they'll claw the bonus back if you don't keep the account for a minimum period of time.  I don't think any of them do this at the moment, but each has it's own terms, so always read the terms...

[Deleted User]

Hope this is the right thread.
I'd love to share the link but this effin forum won't let me post it's own link about switching accounts to the Santander 123 Lite a-c.
[sorry for no link but the website says I'm not allowed to even post a link from elsewhere on the MSE site ! ]
says :-  

Free £130 for new and existing customers

but in the eligibilty but further down :- 
Who's eligible for offer: You can't have had a switch bonus from Santander before, and you can't be switching an account from Santander

So can you or can you not be an existing Santander account holder, and qualify ?

[Deleted User]

typo -
*but in the eligibilty bit further down :-

Notepad_Phil

[Deleted User] said:

Hope this is the right thread.
I'd love to share the link but this effin forum won't let me post it's own link about switching accounts to the Santander 123 Lite a-c.
[sorry for no link but the website says I'm not allowed to even post a link from elsewhere on the MSE site ! ]
says :-  

Free £130 for new and existing customers

but in the eligibilty but further down :- 
Who's eligible for offer: You can't have had a switch bonus from Santander before, and you can't be switching an account from Santander

So can you or can you not be an existing Santander account holder, and qualify ?

Yes you can be an existing Santander customer, but you won't get the switch bonus if you've previously received one and you have to switch a non-Santander current account in.