Switching Joint Accounts

Players4you

I have now been through all existing and past switch offers. 

I am now wondering which of the existing offers, if any, allow for joint accounts to switch and qualify for the payments. I did HSBC for a joint account. A look at the T&C's of the existing offers proves not to be clear. They dont seem to stipulate of a joint account is unique to you as an individual. The HSBC was specific.

Anyone any experience with this?

PRAISETHESUN

It'll depend on the terms of the particular switch offer, but generally speaking, switching a joint account for incentives isn't the best way to maximise the potential rewards. Switching a joint account from another bank usually counts for switch incentives, but will also only pay out one incentive and disqualify both account holders from further incentives. You're much better off having each person on the joint account switching a sole account in their name instead.

From memory, Nationwide is the only bank that I've seen which has allowed a second switch incentive for switching a joint account.

boingy

I can't remember which bank it was but one of the offers specified that for a joint account switch to qualify then *both*  account holders had to be new to the bank/group.

The other thing I'd say is that switching joint accounts is not always as easy as switching solo accounts. I recently switched both types to Virgin. The solo was done in a couple of minutes online. The joint required 16 minutes talking to a real person who kept reading out reams of T&Cs. I pretty much spent the whole 16 minutes listening and saying "yes" occasionally. 

Players4you

Thanks both. I know the previous HSBC one allowed 2 x Single and 1 x Joint. II have already done Natinwide but will see what their T&C's says when a new offer comes out. 

Players4you

boingy said:

I recently switched both types to Virgin. 

Havent seen a Virgin offer around for a while - must have missed that, its one of the few I havent done

boingy

Players4you said:

boingy said:

I recently switched both types to Virgin. 

Havent seen a Virgin offer around for a while - must have missed that, its one of the few I havent done

No, no offer. This was me switching our real bank accounts away from the Coop after 20+ years. They really annoyed me with their draconian transfer blocking and ridiculous unblocking procedures. They really are in a league of their own when it comes to that stuff and not in a good way.