Bank Switching question

Stargunner

SVts said:

I try via website. Unable to select a branch and I have tried Belfast 

I applied for an account yesterday. On that screen above enter Belfast and it should show you the branches. 

rothesy

Just type BT1.  Jeeez.

SVts

rothesy said:

Just type BT1.  Jeeez.

Yeah thanks after a cuppa I sussed it in the end. 

dealyboy

SVts said:

rothesy said:

Just type BT1.  Jeeez.

Yeah thanks after a cuppa I sussed it in the end. 

    ... all been there ... and I don't mean Belfast ... BT1 ... (zzz)

pridehappy

Banks often release new switching offers and have done for decades to encourage new customers, although it honestly depends on which bank and their requirements for each individual offer if you'll be able to do it again in future.

Some banks have limits or will only allow you to switch and gain an incentive once, although it's definitely worth it to keep your eye out for other switching offers or even ones from banks you haven't been to.

SVts

SVts said:

I'm new to this bank switching business but feel I have done very well since switching to First Direct in January.
Since then I've created several dummy accounts and managed the following by often switching balances of £0 then depositing whatever is necessary to qualify.

£175 - First Direct
£200 - NatWest
£250 - Co-Op (referred by my father who kindly gave me his £125)
£200 - Lloyds
£125 - TSB with £75 more to follow

Total should be £950  and I also just missed out on another £200 from Santander.

I'm treating this all as a one-off as I'm presuming my future opportunities to switch will be very limited. 
My question is, does this switching business happen every new year or has this been an exceptional year due to the rise in interest rates? 

£175 - First Direct
£200 - NatWest
£250 - Co-Op (referred by my father who kindly gave me his £125)
£200 - Lloyds
£125 - TSB with £75 more to follow
£200 -  RBS
£175 - Halifax

£200 - hopefully from Ulster 

£1525  

A big thank you for pecunianonolet, rothesy, danny13579, dealyboy, Stargunner

Thank you all 

SVts

£175 - First Direct
£200 - NatWest
£125 - Co-Op 
£200 - Lloyds
£200 - TSB 
£200 -  RBS
£175 - Halifax
£200 - Ulster
£200 - Nationwide

TSB paid the £75 installment today so £1,675 for the year so far.

Hopefully another £75 from Tide to come and fingers crossed Santander do the right thing and have a switch offer
:-D

J30

Hi all, I switched to NatWest in Feb and this is the only time I have ever switched. So new to this. However, want to make the most of the incentive available with nationwide. Since switching my last bank I have took on a mortgage and have all my utilities set up etc. does the switch service switch everything to your new bank? Just scared of it going wrong. Thanks 

eskbanker

J30 said:

Hi all, I switched to NatWest in Feb and this is the only time I have ever switched. So new to this. However, want to make the most of the incentive available with nationwide. Since switching my last bank I have took on a mortgage and have all my utilities set up etc. does the switch service switch everything to your new bank? Just scared of it going wrong. Thanks 

Assuming your mortgage isn't with NatWest and that your utilities are paid by direct debit, then yes, a switch using the Current Account Switching Service will redirect the relevant payments to use the new account.

Middle_of_the_Road

J30 said:

Hi all, I switched to NatWest in Feb and this is the only time I have ever switched. So new to this. However, want to make the most of the incentive available with nationwide. Since switching my last bank I have took on a mortgage and have all my utilities set up etc. does the switch service switch everything to your new bank? Just scared of it going wrong. Thanks 

The current account switching service (CASS) will only switch your current account. It will automatically transfer all direct debits to the new account, and any payments that for any reason are still sent to your Natwest account would be re-directed to Nationwide. If your mortgage is with Natwest, it will stay with them, as will any savings accounts.

Most people would not switch their main current account, but open a second account and switch that instead. You sometimes need to set up direct debits before the switch takes place to meet the conditions of the switch. All offers have certain criteria, so be sure to read all the Ts&Cs