2+ standing orders to myself for switch bonus?

MakeVotesMatter

First Direct offer £175 switch bonus. T&C's say: "at least two Direct Debits or Standing Orders".

I have an account with Chase and HSBC and plan to switch HSBC to First Direct (same parent company).

Would two standing orders both going from HSBC to chase (each with a reference saying: "to myself") be a good idea?

Thanks.

HillStreetBlues

One of the terms is

be a new customer to first direct, who has not previously held a first direct
product, or has opened an HSBC current account on or after 1 January 2018

How much they stick to that I don't know.
The SO is fine as that's what I did. Personally would open another Chase current account set up SO and switch that.

MakeVotesMatter

HillStreetBlues said:

One of the terms is

be a new customer to first direct, who has not previously held a first direct
product, or has opened an HSBC current account on or after 1 January 2018

How much they stick to that I don't know.
The SO is fine as that's what I did. Personally would open another Chase current account set up SO and switch that.

Oh sorry, I forgot to mention it's an old account.

Thanks so much, I might do that instead then.

Bridlington1

HillStreetBlues said:

One of the terms is

be a new customer to first direct, who has not previously held a first direct
product, or has opened an HSBC current account on or after 1 January 2018

How much they stick to that I don't know.

I opened a HSBC account in 2021 and another in 2022 and still got the £175 from FD in 2023. There have also been reports of people getting the FD bonus again if it's been a while since they last had an FD account.

PRAISETHESUN

Last HSBC incentive I got (admittedly years go at this point) I did exactly this - I set up 2x £1 standing orders to another current account of mine and switches those to HSBC. This was enough to satisfy the requirements and I was paid the incentive. I would assume FD operate in the same way. They won't know/care where the SOs are going, just that they are set up on the account and are being switched in.

danny13579

Bridlington1 said:

HillStreetBlues said:

One of the terms is

be a new customer to first direct, who has not previously held a first direct
product, or has opened an HSBC current account on or after 1 January 2018

How much they stick to that I don't know.

I opened a HSBC account in 2021 and another in 2022 and still got the £175 from FD in 2023. There have also been reports of people getting the FD bonus again if it's been a while since they last had an FD account.

In contrast, I opened a HSBC account and was declined the bonus because I had an account with FD. I had never received a bonus from HSBC before.