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Switching bonus - deposit requirements
balsingh
Posts: 1,501 Forumite
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?
If you found my comment helpful, please click the 'Thanks' button below :T
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Comments
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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....1
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Makes sense - I thought as much but just wanted to be sure. Thanks!If you found my comment helpful, please click the 'Thanks' button below :T0
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NatWest needed a £1500 deposit so I just transferred £500 back and forth three times.
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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 seconds2
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Bit like my Halifax Reward current account where I need to pay in £1,500 each calendar month to avoid the fee ... in/out.0
this is brilliant. Beating the banks at their own game 
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