Is switching bank/s for the cash bonus/es worth the effort?

phillw

Hitsville22 said:

I’m probably gonna give the Lloyds one a miss this time as by Direct Debits are currently all tied up in Santander. But I’m hoping later in the year Lloyds or one of the other banks in the group will have another offer. 

This is another reason for keeping a few credit cards, they are a good source of direct debits for switching. Paypal is also a direct debit.

adindaspantai said:

The same with up to £60 cashback, £10 cashback each month for up to 6 month for 20 Debitcard payment ech month

I don't miss the admin of doing 20 debit card payments a month.

mp203

phillw said:

Hitsville22 said:

I’m probably gonna give the Lloyds one a miss this time as by Direct Debits are currently all tied up in Santander. But I’m hoping later in the year Lloyds or one of the other banks in the group will have another offer. 

This is another reason for keeping a few credit cards, they are a good source of direct debits for switching. Paypal is also a direct debit.

adindaspantai said:

The same with up to £60 cashback, £10 cashback each month for up to 6 month for 20 Debitcard payment ech month

I don't miss the admin of doing 20 debit card payments a month.

Regards 20 debit card payments a month; don't most of us make 20 plus dd card payments per month anyway?

mp203

I've now been switched. And met the bonus criteria. I've been told I'll receive the bonus on the 20th April; the 20th of the month after meeting the criteria. Is that just for First Direct, or is is the same with other banks?

Idpullthecurtain

Its hundreds of pounds for nothing.  You cant describe any of the process as "effort".  Its just free money to fill in a form essentially.
You be the judge if its worth if for you.

eskbanker

mp203 said:

I've now been switched. And met the bonus criteria. I've been told I'll receive the bonus on the 20th April; the 20th of the month after meeting the criteria. Is that just for First Direct, or is is the same with other banks?

The terms of switching offers are specific to any individual institution and promotion, so don't assume that something applying to one will apply to another.

Nasqueron

mp203 said:

phillw said:

Hitsville22 said:

I’m probably gonna give the Lloyds one a miss this time as by Direct Debits are currently all tied up in Santander. But I’m hoping later in the year Lloyds or one of the other banks in the group will have another offer. 

This is another reason for keeping a few credit cards, they are a good source of direct debits for switching. Paypal is also a direct debit.

adindaspantai said:

The same with up to £60 cashback, £10 cashback each month for up to 6 month for 20 Debitcard payment ech month

I don't miss the admin of doing 20 debit card payments a month.

Regards 20 debit card payments a month; don't most of us make 20 plus dd card payments per month anyway?

I don't know about most, could be higher or lower, I typically spend 1 a week on supermarket and maybe 2-5 times a month on other things (always CC), most stuff is paid by DD or SO

I remember with the TSB one I was having to go through the supermarket at quiet times to do one by one transactions for packets of economy biscuits for the office to get them all and I think that was only 5 needed!

Nebulous2

mp203 said:

phillw said:

Hitsville22 said:

I’m probably gonna give the Lloyds one a miss this time as by Direct Debits are currently all tied up in Santander. But I’m hoping later in the year Lloyds or one of the other banks in the group will have another offer. 

This is another reason for keeping a few credit cards, they are a good source of direct debits for switching. Paypal is also a direct debit.

adindaspantai said:

The same with up to £60 cashback, £10 cashback each month for up to 6 month for 20 Debitcard payment ech month

I don't miss the admin of doing 20 debit card payments a month.

Regards 20 debit card payments a month; don't most of us make 20 plus dd card payments per month anyway?

Nowhere near for me. I'd be struggling to make 5, nevermind 20. 

ThePirates

Nebulous2 said:

mp203 said:

phillw said:

Hitsville22 said:

I’m probably gonna give the Lloyds one a miss this time as by Direct Debits are currently all tied up in Santander. But I’m hoping later in the year Lloyds or one of the other banks in the group will have another offer. 

This is another reason for keeping a few credit cards, they are a good source of direct debits for switching. Paypal is also a direct debit.

adindaspantai said:

The same with up to £60 cashback, £10 cashback each month for up to 6 month for 20 Debitcard payment ech month

I don't miss the admin of doing 20 debit card payments a month.

Regards 20 debit card payments a month; don't most of us make 20 plus dd card payments per month anyway?

Nowhere near for me. I'd be struggling to make 5, nevermind 20. 

You can do it in 10 minutes buying single cheap items at a self service supermarket till. I've done it at Aldi loads of times to get these deals. £25 for 10 minutes work, no brainer...

tiger70

Idpullthecurtain said:

Its hundreds of pounds for nothing.  You cant describe any of the process as "effort".  Its just free money to fill in a form essentially.
You be the judge if its worth if for you.

I did 4 switches this time last year, only takes a couple of minutes for each one, easy money .

Nebulous2

ThePirates said:

Nebulous2 said:

mp203 said:

phillw said:

Hitsville22 said:

I’m probably gonna give the Lloyds one a miss this time as by Direct Debits are currently all tied up in Santander. But I’m hoping later in the year Lloyds or one of the other banks in the group will have another offer. 

This is another reason for keeping a few credit cards, they are a good source of direct debits for switching. Paypal is also a direct debit.

adindaspantai said:

The same with up to £60 cashback, £10 cashback each month for up to 6 month for 20 Debitcard payment ech month

I don't miss the admin of doing 20 debit card payments a month.

Regards 20 debit card payments a month; don't most of us make 20 plus dd card payments per month anyway?

Nowhere near for me. I'd be struggling to make 5, nevermind 20. 

You can do it in 10 minutes buying single cheap items at a self service supermarket till. I've done it at Aldi loads of times to get these deals. £25 for 10 minutes work, no brainer...

I have a personal assistant (thankfully she doesn't read MSE) who does all my supermarket shopping for me!