Bank Switching question

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

SVts

£175 - First Direct
£200 - NatWest
£125 - Co-Op 
£200 - Lloyds
£200 - TSB including £75 stay
£200 -  RBS
£175 - Halifax
£200 - Ulster
£200 - Nationwide
£75 - Tide not a switch but account opening reward

£1750

Barclays hopefully to payout £175 in the next two weeks.

MikeJXE

£175 - First Direct
£200 - NatWest
£125 - Co-Op 
£200 - Lloyds
£200 - Santander
£200 - TSB 
£200 -  RBS
£175 - Halifax
£200 - Ulster
£200 - Nationwide
£75. - TSb stay
£375- Co-op referrals 
£150 - Yougov Finance

£2475

Barclays soon takes me to £2650

SVts

Yougov Finance that the survey thing? I’m on for £50 for that if I reach 5000 points but it’s a long process.

PRAISETHESUN

SVts said:

Yougov Finance that the survey thing? I’m on for £50 for that if I reach 5000 points but it’s a long process.

You can link your current accounts to YouGov through open banking to get points every 90 days. 500 points per current account, max of 10 accounts. Easy £50 each time if you don't mind sharing your account data

SVts

PRAISETHESUN said:

SVts said:

Yougov Finance that the survey thing? I’m on for £50 for that if I reach 5000 points but it’s a long process.

You can link your current accounts to YouGov through open banking to get points every 90 days. 500 points per current account, max of 10 accounts. Easy £50 each time if you don't mind sharing your account data

Ok I need to look into this, thanks.

So if I link a dummy account that is never used I still get the points?

MikeJXE

SVts said:

PRAISETHESUN said:

SVts said:

Yougov Finance that the survey thing? I’m on for £50 for that if I reach 5000 points but it’s a long process.

You can link your current accounts to YouGov through open banking to get points every 90 days. 500 points per current account, max of 10 accounts. Easy £50 each time if you don't mind sharing your account data

Ok I need to look into this, thanks.

So if I link a dummy account that is never used I still get the points?

Very unlikely, accounts need to be active

I have 10 accounts and a standing order doing the rounds every month 

georged123

SVts said:

PRAISETHESUN said:

SVts said:

Yougov Finance that the survey thing? I’m on for £50 for that if I reach 5000 points but it’s a long process.

You can link your current accounts to YouGov through open banking to get points every 90 days. 500 points per current account, max of 10 accounts. Easy £50 each time if you don't mind sharing your account data

Ok I need to look into this, thanks.

So if I link a dummy account that is never used I still get the points?

Accounts need to be 30 days old and have a handful of transactions to qualify.

Ponchos

Hi everyone,

I'm looking at the switching bonuses and how best to get them all (currently 4 of them). I've had my Nationwide account for years and the perks are virtually nil, so switching cash would be nice!

My current thinking is to go for Lloyds > Barclays > Nationwide > First Direct, and then see if any other offers come about after that. I have a couple of questions though.

As I'm currently with Nationwide, would leaving and then coming back (and leaving to go to Lloyds, and then coming back from Barclays) be an issue and stop the bonus being applied? The terms say you can't have had a switching bonus since 18th August 2021 (which isn't a problem), I'm just thinking about the quick return.

Also, Barclays and Nationwide both require two or more direct debits being transferred. My current DDs with Nationwide are with my credit card and with eBay. Are these sufficient to qualify or do they HAVE to be energy bills and such?

I currently have a Starling account which I will keep regardless and use to transfer money in and out to meet requirements.

Thanks in advance!