Switching bonus - deposit requirements

balsingh

With all the switching bonus offers out there, pretty much all have a requirement for a deposit to be made eg. 1000 within 90 days or 1250 within 28 days.. My query is whether the deposited money has to remain in the account for a certain period of time (eg. until the bonus is paid) or whether it can be transferred out the next day? 

eskbanker

If there was any minimum period of time for the money to remain on deposit (in a current account, remember), then this would be specified in the offer terms....

balsingh

Makes sense - I thought as much but just wanted to be sure. Thanks!

Rob5342

NatWest needed a £1500 deposit so I just transferred £500 back and forth three times.

penners324

It usually has to arrive in the account, that is all. When I've switched previously the money was in the new account for about 30 seconds 

frosch411

Rob5342 said:

NatWest needed a £1500 deposit so I just transferred £500 back and forth three times.

   this is brilliant. Beating the banks at their own game 

dealyboy

Bit like my Halifax Reward current account where I need to pay in £1,500 each calendar month to avoid the fee ... in/out.