Bank Bribe NOT Switching

coupleuk

Any banks offer a new account bribe WITHOUT having to switch?

Thanks

pridehappy

Chase offers 1% cashback on debit card purchases for new current account holders, although no hard cash immediately. Plus, it’s not a full current account with services such as overdrafts.

Santander Edge and Edge Up come with some ongoing benefits too.

If you open a Club Lloyds current account, you’d get to choose and use a lifestyle benefit immediately, but that’s it for the year.

Nationwide Building Society (if they continue to issue it each year, which they said they would like to) will provide customers who actively use their current account (for example, 2 payments each month and £500 funding) and save at least £100 with them will hopefully receive £100 a year for solo accounts and £200 for joint accounts.

In terms of immediate cash, there’s none I know of. Apologies!

eskbanker

coupleuk said:

Any banks offer a new account bribe WITHOUT having to switch?

You can take advantage of switching offers by opening a donor account specifically in order to switch it, thereby leaving your main account unaffected (if that's your rationale for not wanting to switch).

cymruchris

Topcashback is offering £35 when you open a first direct account. It seems you don't have to do a switch to get this -but just simply open the account. They also show £40 on TSB and £55 on HSBC.

jbrassy

As suggested above, the best thing is to open a donor account and use that to switch and get these bonuses. My advice would be to set up a Monzo account if you don't have one. Monzo have never had a switch offer so you won't be missing out on anything. 

coupleuk

What is meant by a donor account please.

PixelPound

coupleuk said:

What is meant by a donor account please.

An account just opened for the purposes of switching it.

coupleuk

Don't you have to let them transfer DD's etc to that new account?

I just want an account with no transactions setup.

I can then put some money in and give my elderly mother a cashpoint card.

Be nice to earn a bribe from the new bank for doing it.

wmb194

coupleuk said:

Don't you have to let them transfer DD's etc to that new account?

I just want an account with no transactions setup.

I can then put some money in and give my elderly mother a cashpoint card.

Be nice to earn a bribe from the new bank for doing it.

You've already been given the answer; go and have a look at TopCashback and Quidco for TSB, First Direct, HSBC and Santander to see whether something suits.

e.g., this is a no-frills account from Santander and there are no hoops to jump through: https://www.topcashback.co.uk/santander-everyday-current-account/