Confused over specifics switching bank for £175 welcome

mrjishere

I'm looking to claim switch cash by switching bank accounts to nationwide flexdirect but I dont actually want to switch from HSBC as everythings tied to it. 

Do I actually have to close an account to qualify and does that account need to be that active HSBC one?

I've just opened a virgin money account I've done nothing with it and have a £0 balance, could I transfer direct debits and £1001 to establish and switch from?

WillPS

mrjishere said:

Do I actually have to close an account to qualify

Yes.

mrjishere said:

does that account need to be that active HSBC one?

No

mrjishere said:

I've just opened a virgin money account I've done nothing with it and have a £0 balance, could I transfer direct debits and £1001 to establish and switch from?

Yes, so long as the direct debits are active on the account when you switch - it takes at least a week or so to get them set up.

The £1000 can be sent to the Nationwide account after the switch takes place, it doesn't need to be transferred as part of the switch itself.