Bank switching workarounds

Giraffe76

Hi all,
After reading Martin's latest email with regards  to the bank switching offers I've found that I don't have enough income or I've switched to those particular banks before or the switch isn't worth it because of the account charge so is there any workarounds I could use that people know of please

Kind regards mark 

PRAISETHESUN

Giraffe76 said:

Hi all,
After reading Martin's latest email with regards  to the bank switching offers I've found that I don't have enough income or I've switched to those particular banks before or the switch isn't worth it because of the account charge so is there any workarounds I could use that people know of please

Kind regards mark 

Workarounds for what specifically?

"Income" requirements are usually only for premier banking, and mostly can't be gotten around. Other accounts which require monthly payments into the account can usually be satisfied by bouncing money between two of your own current accounts, often in multiple goes (eg. 4x £500 for a £2000 monthly requirement). Switch incentive restrictions are typically much harder to work around, and usually if you aren't eligible then that's usually the end of the matter. Some accounts waive monthly fees if you meet certain criteria, but again it depends on the specific account in question.

Giraffe76

PRAISETHESUN said:

Giraffe76 said:

Hi all,
After reading Martin's latest email with regards  to the bank switching offers I've found that I don't have enough income or I've switched to those particular banks before or the switch isn't worth it because of the account charge so is there any workarounds I could use that people know of please

Kind regards mark 

Workarounds for what specifically?

"Income" requirements are usually only for premier banking, and mostly can't be gotten around. Other accounts which require monthly payments into the account can usually be satisfied by bouncing money between two of your own current accounts, often in multiple goes (eg. 4x £500 for a £2000 monthly requirement). Switch incentive restrictions are typically much harder to work around, and usually if you aren't eligible then that's usually the end of the matter. Some accounts waive monthly fees if you meet certain criteria, but again it depends on the specific account in question.

Yes I meant the part where I've had bank switch offers before with certain banks

PRAISETHESUN

If the terms of new switching offers say that you're not eligible, then there's nothing you can really do to force them to pay you another incentive. That said, some banks are definately better at checking than others, so it is sometimes possible to slip through the cracks... Just keep in mind you won't have any recourse to complain if they don't end up paying out.

Giraffe76

PRAISETHESUN said:

If the terms of new switching offers say that you're not eligible, then there's nothing you can really do to force them to pay you another incentive. That said, some banks are definately better at checking than others, so it is sometimes possible to slip through the cracks... Just keep in mind you won't have any recourse to complain if they don't end up paying out.

Yes that's the sort of thing I thought you would say. Thank you for replying