RBS switch question

dreaming · 18 June 2019 at 3:03PM

I started to apply to switch one of my Tesco accounts to RBS for the switching bonus (having switched one to First Direct ok) and have a quick question. According to their Terms and Conditions to get the switching bonus it states you have to switch by 28th June 2019. Does this mean the switch has to be completed by that date or just applied for? Have looked through their site and can't see any clarification. When I did the First Direct application the earliest date I could set the switch for was 9th July, so not sure if I will have enough time if it has to be completed by end of June.

I may be overthinking this and the answer will be blindingly obvious once pointed out but if anyone has any knowledge/thoughts on this I would be interested to read. Thanks.

Willing2Learn · 18 June 2019 at 3:11PM

Hi,

I believe all you have to do is apply for an eligible current account using the CASS system by the 28th June. This means you would only have to open the account and initiate the full CASS switch by the 28th. You can check yourself and confirm the full switch t&c's by clicking the link below:
https://personal.rbs.co.uk/content/dam/royal_bank_of_scotland/personal/current-accounts/documents/april19-rbs-switcher-terms-conditions.pdf

dreaming · 18 June 2019 at 3:39PM

Thanks. As I was halfway through the application I carried on anyway and when it came to the switching date I was able to select 27th June so hoping this will produce the bonus (the other t's and c's were easier to see and understand).
So that's 2 accounts opened in a matter of days and the bonuses gained should cover the loss of interest from Tesco reducing their interest rate.
I'm not sure why, but I always have a feeling they are going to decline me as my income is just under the tax threshold (deliberately), although I do own my house outright. However, I have never been declined an account or credit card, or any other finance come to that. Reading other people's stories on here I often wonder if I have just been lucky.

snowqueen555 · 19 June 2019 at 8:04PM

How do you initiate the switch? I am in the process of getting my documents verified.

dreaming · 20 June 2019 at 8:53AM

snowqueen555 wrote: »

How do you initiate the switch? I am in the process of getting my documents verified.

I just applied online via the link in the Banking and Saving "best bank accounts" section above. This took me through to the RBS site where I signed up to open the account (I went for the free Select account as I don't have any direct debits to cover their cashback account fee) and filled in the section which asked me if I wanted to switch an account. I did the same for the First Direct switching bomus a few days prior.
I have never been asked to take/send documents in to prove my identity for any account I have opened or switched to over the past few years. I have pretty much exhausted all of the switching bonuses offered now, so unless a new one comes along or someone starts increasing their rates (unlikely) I shall stay with the accounts I have now for a while.

RBS switch question

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