Total Lifetime Bank Switching Earnings?

eskbanker

simonsmithsays said:

eskbanker said:

https://forums.moneysavingexpert.com/discussion/6431885/bank-switching-question features some tales of serial switchers claiming impressive totals.

Maybe the OP might start another thread for the most impressive way institutions have taken away Banking from customers when they've really, really taken the Michael.

Happy to be corrected, but I'm not convinced that institutions will have banned customers for serial switching as such, in that the nature of doing that is that the benefits are obtained from numerous different institutions rather than abusing the facilities of any individual one?

There is at least one thread about a banking group choosing not to continue to do business with one customer as a result of excessive accounts, but that's a different issue:

https://forums.moneysavingexpert.com/discussion/6433933/lbg-closing-all-my-accounts-on-18th-may

boingy

£2000 on the nose for me, all in 2023. Nothing before or since that. I've still got a handful of them sitting there with a couple of quid in and, in two cases, with two DDs, ready for the next opportunity but I might have run out of banks, at least for a few years until they "reset". I've also had a few free shares and bonuses from investment accounts but I've not bothered with the "refer a friend" things.

GreenScepter

I started just over 6 months ago and have currently racked up £1560 from switch bonuses (not counting extras like TSBs cashback for using the card or CO-OPs bonus for having savings, though I did go for those too). Though technically £575 of that I shouldn't have been eligible (RBS + Ulster since I had a bonus from Natwest, and First Direct since it was for new customers but I had an account with them before) it's surprising how lax they sometimes are handing out cash. Plus I now have a lovely collection of colourful bankcards.

Nasqueron

monkeyman613 said:

Do you close your accounts straightaway after receiving the switching bonus? Is there any point of keeping them open longer?

I keep them open after switching, I have a main account, a switching account (2 DDs funded monthly) plus a FD account just for the saver then I think 2-3 others just open doing nothing 

Bigwheels1111

Switching including Nationwide £200 + £100 fair share next month, Around 3k.
Complaining 5-7k.

monkeyman613

Bigwheels1111 said:

Switching including Nationwide £200 + £100 fair share next month, Around 3k.
Complaining 5-7k.

wdym complaining 5-7k?

WillPS

monkeyman613 said:

Bigwheels1111 said:

Switching including Nationwide £200 + £100 fair share next month, Around 3k.
Complaining 5-7k.

wdym complaining 5-7k?

Compensation from complaints.

artyboy

Back in the days when I dabbled, I probably made 3-4k in the space of a year or two - but must admit I lost interest after getting debanked by LBG, and have now focused my efforts on pension switching incentives, which are far far more lucrative (assuming you have the funds to move around in the first place...)

GreenScepter

Bigwheels1111 said:

Switching including Nationwide £200 + £100 fair share next month, Around 3k.
Complaining 5-7k.

How did you get so much from complaining? Did you experience some big problems or a lot of smaller ones?

Bigwheels1111

GreenScepter said:

Bigwheels1111 said:

Switching including Nationwide £200 + £100 fair share next month, Around 3k.
Complaining 5-7k.

How did you get so much from complaining? Did you experience some big problems or a lot of smaller ones?

TSB screwed up their software switch 5 or more years ago.
Paid me over 1k as could not pay bills, access cash etc.
First Direct, multiple issues, but pay me compensation every time.
Makes me happy.
Chase, not paying standing orders, messing up Amazon payments, over £500 at £50 a go.
It all adds up.😜