Bank Switching question

PRAISETHESUN

I opened a second current account with Santander during the last switch incentive, electing to switch during the online application. Saved a phone call/branch visit if I were to have switched into my existing Santander account instead

SVts

Stargunner said:

@SVts & MikeJXE

Did you miss the switch offer from HSBC?

I missed it off the list!

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

£2125

MikeJXE

SVts said:

Stargunner said:

@SVts & MikeJXE

Did you miss the switch offer from HSBC?

I missed it off the list!

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

£2125

Must have done, when was it ?

I started December last year 

SVts

£175 - First Direct
£200 - NatWest
£125 - Co-Op 
£200 - Lloyds
£200 - TSB including £75 stay
£200 -  RBS
£200 - HSBC
£175 - Halifax
£200 - Ulster
£200 - Nationwide
£75 - Tide not a switch but account opening reward
£175 - Barclays
£185 - Santander

£2310

Not bad for 12 months of switching. 

I guess that's about it for me though for two years or more as I don't think there are any more banks left to switch to 

WillPS

SVts said:

£175 - First Direct
£200 - NatWest
£125 - Co-Op 
£200 - Lloyds
£200 - TSB including £75 stay
£200 -  RBS
£200 - HSBC
£175 - Halifax
£200 - Ulster
£200 - Nationwide
£75 - Tide not a switch but account opening reward
£175 - Barclays
£185 - Santander

£2310

Not bad for 12 months of switching. 

I guess that's about it for me though for two years or more as I don't think there are any more banks left to switch to 

Virgin Money potentially - they tend to avoid direct cash payouts but there was a bonus worth £160 in cashback in Nov 22.

Nationwide will also let you get a bonus once more on a joint account if that's an option for you.

Idpullthecurtain

How to serial switchers get around the issue of the multiple Hard Searches to open the account.  Do you just ignore?  Doesnt it make being approved for the next account unlikely?

Poquito

Idpullthecurtain said:

How to serial switchers get around the issue of the multiple Hard Searches to open the account.  Do you just ignore?  Doesnt it make being approved for the next account unlikely?

Nothing to get around really. If they’re going to hard search you, they are going to do it. If I get declined for an account (which luckily so far hasn’t happened) then I’ll probably leave it a couple months and get back on it.  

[Deleted User]

In the last 12 months -

150 Lloyds
125 TSB
175 Barclays
125 Co-op (friend referral)
200 RBS
175 Santander (in process)

I have also had these but didn't keep record of the amount -

M&S
Halifax
Yorkshire
HSBC
First Direct

Idpullthecurtain

Hi,
Does anyone know the criteria for a direct debit for switching.
I have a few direct debits that dont actually happen, for example my credit card minimum payments.  They are set up, but they never actually happen because I like to pay off my balance just before its due.
Would these still allow me to meet the criteria of having 2+ Direct Debits on my account?
TIA

eskbanker

Idpullthecurtain said:

Hi,
Does anyone know the criteria for a direct debit for switching.
I have a few direct debits that dont actually happen, for example my credit card minimum payments.  They are set up, but they never actually happen because I like to pay off my balance just before its due.
Would these still allow me to meet the criteria of having 2+ Direct Debits on my account?
TIA

There are no fixed standard criteria, so it'll vary from one bank to another, both for the ceding and receiving ends of the switch, but unused DDs may be cancelled if left dormant for a couple of years:

https://forums.moneysavingexpert.com/discussion/comment/80235047/#Comment_80235047