Chase £100 incentive

danny13579

la531983 said:

But they arent going to be sitting there monitoring every account. The type of transfer in will have to trigger the criteria. And any bank transfer, for salary or otherwise, wont do this.

What criteria have to be triggered?

danny13579

grumpy_codger said:

Not sure why they say "not a transfer from another bank account you own", not just "not a transfer from another bank account".  Idiots.

With regards, to "No mention that payment has to be BACS", "direct credit" is in fact "Bacs Direct Credi" - 

https://www.bacs.co.uk/bacs-schemes/bacs-direct-credit/ they say

The "you own" is important as it precludes me moving £1,500 from an account in my name with another bank to a Chase account in my name, and getting the gift card.

Nothing about moving from someone else's account to yours or from a company account to yours.

Do the T&Cs define that what they call "direct credit" is BACS?

la531983

danny13579 said:

la531983 said:

But they arent going to be sitting there monitoring every account. The type of transfer in will have to trigger the criteria. And any bank transfer, for salary or otherwise, wont do this.

What criteria have to be triggered?

A direct credit. A Faster Payment is not a Direct Credit.

la531983

danny13579 said:

grumpy_codger said:

Not sure why they say "not a transfer from another bank account you own", not just "not a transfer from another bank account".  Idiots.

With regards, to "No mention that payment has to be BACS", "direct credit" is in fact "Bacs Direct Credi" - 

https://www.bacs.co.uk/bacs-schemes/bacs-direct-credit/ they say

The "you own" is important as it precludes me moving £1,500 from an account in my name with another bank to a Chase account in my name, and getting the gift card.

Nothing about moving from someone else's account to yours or from a company account to yours.

Do the T&Cs define that what they call "direct credit" is BACS?

Given a huge chunk of salaries are paid via BACS, it would be rather stupid if they were excluded given it seems to be a promo to get people to move their salary payments to them.

danny13579

la531983 said:

Given a huge chunk of salaries are paid via BACS, it would be rather stupid if they were excluded given it seems to be a promo to get people to move their salary payments to them.

Doesn't have to be a salary. That's just an example. It has to be an "income payment". Do Chase define in the T&Cs what an "income payment" is other than their examples of a salary or pension payment?

la531983

danny13579 said:

la531983 said:

A direct credit. A Faster Payment is not a Direct Credit.

Show me in the T&Cs of the offer where it says this? Show me in the T&Cs where their definition of a direct credit is?

It says a direct credit. A normal bank transfer is not a direct credit.

We are going round in circles here, why doesnt someone just actually ask them how it will be administered?

grumpy_codger

danny13579 said:

grumpy_codger said:

Not sure why they say "not a transfer from another bank account you own", not just "not a transfer from another bank account".  Idiots.

With regards, to "No mention that payment has to be BACS", "direct credit" is in fact "Bacs Direct Credi" - 

https://www.bacs.co.uk/bacs-schemes/bacs-direct-credit/ they say

The "you own" is important as it precludes me moving £1,500 from an account in my name with another bank to a Chase account in my name, and getting the gift card.

Nothing about moving from someone else's account to yours or from a company account to yours.

Do the T&Cs define that what they call "direct credit" is BACS?

https://www.chase.co.uk/gb/en/legal/chase-main-cass-100-reward-terms-and-conditions/

Interestingly, my salary from a big company is listed as "BANK GIRO CREDIT". God knows if it's 'direct credit' or not.

la531983

grumpy_codger said:

danny13579 said:

grumpy_codger said:

Not sure why they say "not a transfer from another bank account you own", not just "not a transfer from another bank account".  Idiots.

With regards, to "No mention that payment has to be BACS", "direct credit" is in fact "Bacs Direct Credi" - 

https://www.bacs.co.uk/bacs-schemes/bacs-direct-credit/ they say

The "you own" is important as it precludes me moving £1,500 from an account in my name with another bank to a Chase account in my name, and getting the gift card.

Nothing about moving from someone else's account to yours or from a company account to yours.

Do the T&Cs define that what they call "direct credit" is BACS?

https://www.chase.co.uk/gb/en/legal/chase-main-cass-100-reward-terms-and-conditions/

Interestingly, my salary from a big company is listed as "BANK GIRO CREDIT". God knows if it's 'direct credit' or not.

Probably be fine. They are just trying to exclude any bank transfers imo, yes this will likely preclude the relatively small number of companies who run payroll just as Faster Payments. 

Like I said, someone could just actually ask them....

danny13579

grumpy_codger said:

https://www.chase.co.uk/gb/en/legal/chase-main-cass-100-reward-terms-and-conditions/

Interestingly, my salary from a big company is listed as "BANK GIRO CREDIT". God knows if it's 'direct credit' or not.

Thanks for posting the full terms. After having a read through them, it does seem to be confined to BACS.

How can they tell if an "income payment" is BACS if it's just labeled as something like "bank giro credit"?

As it's mostly larger organisations and government departments that use BACS does this mean that people getting "income payment" from smaller organisations or freelancers getting paid by clients who are more likely to use faster payments are excluded? Looks like it.

I'm excluded anyway as I didn't get the email. 

Wings_of_Ambition

Is there any downside, in terms of credit rating/report, to changing the receiving account for salary?  I can't think there would be, but hoping to buy my first place soon, so don't want to make any silly moves, just to get an Amazon voucher.