Switching bonuses - restrictions on direct debits?

I'm looking at the Nationwide account wit the £200 switch bonus and noted that part of the deal is you have to switch over 2 active direct debits from your current account. I can do this, but my direct debits are pretty low value as almost all of the big ones like mortgage, council tax etc come out of our joint account (on payday I transfer most of my salary from current to joint account for this purpose).

On my current account I have 4 active direct debits - 2 are for my mobile phone, one to a charity and the other for pet insurance. total value of them is only about £40 a month.

Will the bank accept this and give the bonus or will they say the value of the direct debits is too low? Can't see anything in the Ts and Cs about it.

Replies

  • changearound1changearound1 Forumite
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    You'll be fine. I've done successful switches with much lower DDs.
  • Band7Band7 Forumite
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    If your DDs needed to have a minimum amount, the switch offer terms would mention this.
  • KatiehoundKatiehound Forumite
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    I would just say make sure they are for monthly DDs- which I assume they are. M&S used to accept annual DDs as active but I think they were in a minority.

    You might want to keep 2 of those DDs aside  in a  donor account for a future switch bonus.
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  • Band7Band7 Forumite
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    I would just say make sure they are for monthly DDs- which I assume they are. M&S used to accept annual DDs as active but I think they were in a minority.

    You might want to keep 2 of those DDs aside  in a  donor account for a future switch bonus.
    I have done many a switching offer and have never come across one which stipulated the frequency of the DD. Mine are all annual.

    There are different rules for ongoing rewards offers - they often require monthly DDs.
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