Nationwide Switch Offer £200 September 2023

J30

georged123 said:

J30 said:

Are people switching their main accounts that have all their bills etc attached to? 

Most people would advise against switching your main account unless you were really unhappy with your provider.

Generally, posters would say open a burner account with Metro/Starling/Monzo etc then add two direct debits to that account then switch that account.

Is this legit? Can this be done? Somehow doesn’t feel right to me 

PRAISETHESUN

J30 said:

georged123 said:

J30 said:

Are people switching their main accounts that have all their bills etc attached to? 

Most people would advise against switching your main account unless you were really unhappy with your provider.

Generally, posters would say open a burner account with Metro/Starling/Monzo etc then add two direct debits to that account then switch that account.

Is this legit? Can this be done? Somehow doesn’t feel right to me 

It might not be in the spirit that Nationwide intended, but it's perfectly legitimate. Plenty of people have been doing switches solely to take advantage of switch incentives for many years.

harz99

J30 said:

georged123 said:

J30 said:

Are people switching their main accounts that have all their bills etc attached to? 

Most people would advise against switching your main account unless you were really unhappy with your provider.

Generally, posters would say open a burner account with Metro/Starling/Monzo etc then add two direct debits to that account then switch that account.

Is this legit? Can this be done? Somehow doesn’t feel right to me 

Maybe free money doesn't appeal to you? If it does i suggest you search the Forum and read up some of the threads regards setting up DDs to switch and so on... 

Middle_of_the_Road

J30 said:

georged123 said:

J30 said:

Are people switching their main accounts that have all their bills etc attached to? 

Most people would advise against switching your main account unless you were really unhappy with your provider.

Generally, posters would say open a burner account with Metro/Starling/Monzo etc then add two direct debits to that account then switch that account.

Is this legit? Can this be done? Somehow doesn’t feel right to me 

It's not how the banks want it to work, but it is not against any of the rules the banks layout.

Worth pointing out that if you open an account and quickly switch it to get a pay out from another bank, they might not want you as a customer in the future.
Open and close too many accounts with a bank might lead being banned indefinitely.

J30

Middle_of_the_Road said:

J30 said:

georged123 said:

J30 said:

Are people switching their main accounts that have all their bills etc attached to? 

Most people would advise against switching your main account unless you were really unhappy with your provider.

Generally, posters would say open a burner account with Metro/Starling/Monzo etc then add two direct debits to that account then switch that account.

Is this legit? Can this be done? Somehow doesn’t feel right to me 

It's not how the banks want it to work, but it is not against any of the rules the banks layout.

Worth pointing out that if you open an account and quickly switch it to get a pay out from another bank, they might not want you as a customer in the future.
Open and close too many accounts with a bank might lead being banned indefinitely.

That’s what concerns me and probably why I wouldn’t do it. Even if it is perfectly legit but I don’t think “free money” as the previous poster pointed out is worth it! 

Volcane

J30 said:

Middle_of_the_Road said:

J30 said:

georged123 said:

J30 said:

Are people switching their main accounts that have all their bills etc attached to? 

Most people would advise against switching your main account unless you were really unhappy with your provider.

Generally, posters would say open a burner account with Metro/Starling/Monzo etc then add two direct debits to that account then switch that account.

Is this legit? Can this be done? Somehow doesn’t feel right to me 

It's not how the banks want it to work, but it is not against any of the rules the banks layout.

Worth pointing out that if you open an account and quickly switch it to get a pay out from another bank, they might not want you as a customer in the future.
Open and close too many accounts with a bank might lead being banned indefinitely.

That’s what concerns me and probably why I wouldn’t do it. Even if it is perfectly legit but I don’t think “free money” as the previous poster pointed out is worth it! 

I, and many others, have opened and switched many many accounts over the years ( and this year alone ) and have made 4 figures of free money…. Many of us have received the triple crown of £600 from NatWest group alone this year. It is also always advisable keeping a minimum of two active current accounts anyway in case of any difficulties ( eg I.T. Issues ) with your main account. Additionally many accounts have their own unique benefits such as cashback on bills, free cinema tickets, free subscriptions to streaming services, linked regular savers with good interest rates etc…. Imho it’s just a case of being clever with your cash and making your money work for you. 

MikeJXE

J30 said:

Middle_of_the_Road said:

J30 said:

georged123 said:

J30 said:

Are people switching their main accounts that have all their bills etc attached to? 

Most people would advise against switching your main account unless you were really unhappy with your provider.

Generally, posters would say open a burner account with Metro/Starling/Monzo etc then add two direct debits to that account then switch that account.

Is this legit? Can this be done? Somehow doesn’t feel right to me 

It's not how the banks want it to work, but it is not against any of the rules the banks layout.

Worth pointing out that if you open an account and quickly switch it to get a pay out from another bank, they might not want you as a customer in the future.
Open and close too many accounts with a bank might lead being banned indefinitely.

That’s what concerns me and probably why I wouldn’t do it. Even if it is perfectly legit but I don’t think “free money” as the previous poster pointed out is worth it! 

What do you mean by free money is not worth it ?

Time taken to get it, it takes minutes

I have made over £2,000 since last December by spending a few minutes a day on each application, the hourly rate must be phenomenal 

Or do you think you're robbing the banks who are encouraging you to take it 

georged123

If the banks were that bothered about people “abusing” the system, then they could become far more stringent around who and when etc people could claim the switching bonus.

phil7445

@J30 think of the free money as part of a bank's marketing budget.  They will probably try and sell you other products such as a credit card or insurance etc.

MikeJXE

Good news today, text to say I have qualified for the current account switch offer and £200 should land in my bank within 10 days