Current account switch offer

Daliah

cymruchris said:

cymruchris said:

Each account has its own requirements - most have a minimum pay-in over a certain period, and the transfer of some active direct debits.

RN61 said:

Not true that you have to have two direct Debits to benefit from a bank switch reward, they are all different.

I did say most....  and did say each account has its own requirements

In my experience, most don't, and those that do are very easy to do as even if you don't have the full sum handy, you can deposit a smaller amount, withdraw it and redeposit it.  I suppose it all depends which switch offers you have done. 

Bizzywizard

I have switched twice now and will again in a few years time!

I was with HSBC (since I was 16) and switched to Nationwide (£125 bonus money given) so I could use their interest free overdraft facility for 1 year, I managed to get rid of the overdraft (That was a pain to remove!) so switched it again to Santander just awaiting their £140 this month. I have two basic DD on this account (phone and gas/electric) pay in the min amount on payday and that goes back 2 days later to my main RBS account (main account). The Santander account is only used to make the deal/bous money and I will use the new saving account as rate is 2.5%, for the 1 year deal only.

RBS have been the only bank I like and can talk to someone from the UK if needed. So no point in switching that one. Switching has to work for you and NOT the bank.

Jami74

Peggy0628 said:

First direct are offering £150 for switching so better than nationwide. Plus, I don't have any direct debits so can't switch them. I'm just wondering if they will pay the bonus even if it's obvious that the account that was switched to them was not my main account (I'll pay in the minimum stated etc) as there will be no wages paid in, no rent coming out etc?

As long as you meet the switch requirements then they will pay the switching bonus. I switched to First Direct a couple of years ago for the switching bonus using an empty unused account. I never made any purchases from the account although did open a regular saver so deposited some money each month which then went by standing order to the saver. I've recently switched it to another another bank for a switching bonus. I don't have 'spare' direct debits so only switch to banks that don't have them as a requirement.