Child benefit, Tax credits and bank accounts

SwiftS

Hi,
at the moment both my tax credits (child tax credits and working tax credits) and child benefit are paid into the same bank account. Is it possible to have tax credits paid into one account and child benefit into another. I want to apply for a new bank account to get the £200 initial offer. I want to pay my tax credits into it to cover the two direct debits I would need to transfer across to be eligible for the £200. I will need to keep my child benefit in the other account as my income doesn’t quite cover the rest of my direct debits.
I think I’m over complicating things…
thanks

HillStreetBlues

Just checking you already have 2 bank accounts as most like the Natwest £200 requires you to switch,  so old account is closed.

Jyana

It's easy enough to transfer the money across between accounts via the apps on your phone/tablet these days. Might be a simpler idea, especially if the new account needs a set amount going through it for X amount of months before you get the cashback. You can then siphon the cash between the two accounts until you meet the conditions of it.

poppy12345

Sounds like a lot of fuss and hassle to me. You can just set up a standing order for funds to be transferred from one account to another, just incase you forget to transfer it. 

peteuk

HillStreetBlues said:

Just checking you already have 2 bank accounts as most like the Natwest £200 requires you to switch,  so old account is closed.

I agree most bank accounts which offer such sums usually require a switching process which automatically brings your direct debits and payments to your new account.  It doesnt automatically close your old account ( I believe).

check the terms and conditions of the £200 joining incentive.

HillStreetBlues

peteuk said:

HillStreetBlues said:

Just checking you already have 2 bank accounts as most like the Natwest £200 requires you to switch,  so old account is closed.

I agree most bank accounts which offer such sums usually require a switching process which automatically brings your direct debits and payments to your new account.  It doesnt automatically close your old account ( I believe).

check the terms and conditions of the £200 joining incentive.

It does.

One the switch is complete,  any payments using old account details (sort and account number) is forwarded to the new account.

If you want to keep an account open, you can not use the switching service.