Account switching for bonuses

JDPower

Those of you who have accounts set up just for getting switching bonuses, how do you go about meeting the "2 direct debits" requirement, is there a trick to meet this easily instead of having to create two genuine direct debits?

(apologies if this is a stupid question, but if you don't ask, you never find out) 

On-the-coast

In my case I opened a “donor account” - a second current account - at the bank where I’ve banked since my first summer job (& still keep as my “main bank”)

I choose 3 low value but consistent existing DD’s and moved them to this new account (self & partners mobile phone + TV licence). 

Waited til I was sure the DD’s were working.
Then switch switch switch. 

It really is easy money as long as you:
- make careful notes of the switch dates
- follow the individual requirements of the switch
- have patience (& keep notes) of all the password & app settings you’re going to install. 

You may even find a bank you like better than your current bank! 

Other DD methods - some low value donations to charity or magazines.  Some people have set up  regular DD’s to their PayPal accounts. 

Zanderman

JDPower said:

Those of you who have accounts set up just for getting switching bonuses, how do you go about meeting the "2 direct debits" requirement, is there a trick to meet this easily instead of having to create two genuine direct debits?

(apologies if this is a stupid question, but if you don't ask, you never find out) 

Have a read of this thread for ideas on DDs: https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list

Bear in mind the earlier posts in it may now be out of date.

Also look at https://scrimpr.co.uk/one-pound-direct-debit/ or https://www.onepounddd.com/ or https://cheapdirectdebits.co.uk/ or similar sites. Be savvy though, don't sign up to unnecessary expense!

Lumiona

I use paypal as a bank DD and use an old nil balance credit card DD. Easy because they are classed as active but no funds needed to pay them also take minutes to set up online.

PRAISETHESUN

The thread zanderman links to is the best source of information. Moneybox, Plum, PayPal and Currensea are all fairly quick to set up and are the ones I use when I nee a DD in a hurry. For longer term on-going rewards, I tend to shuffle around existing household bill DDs.

vacheron

I'm a stoozer in addition to a bank bonus seeker, with nine 0% credit cards, each of which are are paying the minimum monthly payments by direct debit. I just make sure when I open or close a new credit card that the direct debits are spread evenly across my four bank accounts so that there are at least 2 cards DD's linked to each bank account.  

winkowinko

I just use 30p direct debits, and cancel them as soon as the switch has completed.

goatfaced

winkowinko said:

I just use 30p direct debits, and cancel them as soon as the switch has completed.

Me too. But why do they continue to offer the 30p service yet complain about losing money on it and try to guilt you into paying 60p or more? I'd rather they just charged what they wanted instead of the drama.