Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • roopoo337
    • By roopoo337 3rd Jul 18, 11:45 PM
    • 4Posts
    • 0Thanks
    roopoo337
    RBS £1500 pay in
    • #1
    • 3rd Jul 18, 11:45 PM
    RBS £1500 pay in 3rd Jul 18 at 11:45 PM
    Hiya
    Ive done a lot of switches in the past & always been able to meet the pay in requirements, but this time I won't be paid £1500 by 24th August (the cut off date).
    Does anyone know if I can transfer £500 in and out over the course of the month, or if I need to have the full £1500 in my account at one time to meet the requirements?
    Thanks!
Page 1
    • soulsaver
    • By soulsaver 4th Jul 18, 1:27 AM
    • 2,112 Posts
    • 967 Thanks
    soulsaver
    • #2
    • 4th Jul 18, 1:27 AM
    • #2
    • 4th Jul 18, 1:27 AM
    Hiya
    Ive done a lot of switches in the past & always been able to meet the pay in requirements, but this time I won't be paid £1500 by 24th August (the cut off date).
    Does anyone know if I can transfer £500 in and out over the course of the month, or if I need to have the full £1500 in my account at one time to meet the requirements?
    Thanks!
    Originally posted by roopoo337
    Yes.3x£500 in & out again is fine
    Does the T&Cs say you can't? If they don't... then you can. Simples.

    And AFAIK - and I know a lot of UK banks - NO UK bank insists on a single credit to meet ANY incentive.
    • 20aday
    • By 20aday 4th Jul 18, 8:30 AM
    • 2,314 Posts
    • 964 Thanks
    20aday
    • #3
    • 4th Jul 18, 8:30 AM
    • #3
    • 4th Jul 18, 8:30 AM
    When NatWest had a similar offer I couldn!!!8217;t make £1,500 in one go so transferred £500 in & out three times and earned the reward.
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
    • soulsaver
    • By soulsaver 4th Jul 18, 10:27 AM
    • 2,112 Posts
    • 967 Thanks
    soulsaver
    • #4
    • 4th Jul 18, 10:27 AM
    • #4
    • 4th Jul 18, 10:27 AM
    PS 6x £250 or 5x £300 etc is fine too
    PPS Make sure you've ordered any necessary digital key/card reader in good time to make the necessary w/ds.
    • enthusiasticsaver
    • By enthusiasticsaver 4th Jul 18, 1:04 PM
    • 7,284 Posts
    • 15,988 Thanks
    enthusiasticsaver
    • #5
    • 4th Jul 18, 1:04 PM
    • #5
    • 4th Jul 18, 1:04 PM
    There is nothing to say you cannot recycle money so doing the funding requirement in 3 lots is ok.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • 2Lancahire Lassie
    • By 2Lancahire Lassie 4th Jul 18, 1:39 PM
    • 9 Posts
    • 28 Thanks
    2Lancahire Lassie
    • #6
    • 4th Jul 18, 1:39 PM
    • #6
    • 4th Jul 18, 1:39 PM
    I found out you don't actually need the same banks card reader. They all do it. That I was told by Nat West when I joined them earlier in the year and after I ordered the reader.
    • maxximus75
    • By maxximus75 4th Jul 18, 5:34 PM
    • 148 Posts
    • 48 Thanks
    maxximus75
    • #7
    • 4th Jul 18, 5:34 PM
    • #7
    • 4th Jul 18, 5:34 PM
    AFAIK the £1500 just has to be credited to the account before August


    "Just use the Current Account Switch Service online to close your old current account held elsewhere and switch to us before 9 July.
    You!!!8217;ll need to pay in at least £1,500 and log in to Digital Banking or our Mobile Banking app by 24 August. We!!!8217;ll then pay the £100 by 5 October 2018. "


    Am I reading this correctly that you just have to pay in at least a total of £1500 by August 24th?
    • Zanderman
    • By Zanderman 4th Jul 18, 6:31 PM
    • 1,860 Posts
    • 4,563 Thanks
    Zanderman
    • #8
    • 4th Jul 18, 6:31 PM
    • #8
    • 4th Jul 18, 6:31 PM
    AFAIK the £1500 just has to be credited to the account before August


    "Just use the Current Account Switch Service online to close your old current account held elsewhere and switch to us before 9 July.
    You!!!8217;ll need to pay in at least £1,500 and log in to Digital Banking or our Mobile Banking app by 24 August. We!!!8217;ll then pay the £100 by 5 October 2018. "


    Am I reading this correctly that you just have to pay in at least a total of £1500 by August 24th?
    Originally posted by maxximus75
    Yes. That's what it says and that's what it means! Remember to login too, but you'd probably be doing that anyway.

    The only caveat is that, fairly obviously, you need to keep the account open until at least the time the £100 is paid. But you'd probably be doing that anyway too.
    • knack92
    • By knack92 4th Jul 18, 7:22 PM
    • 451 Posts
    • 210 Thanks
    knack92
    • #9
    • 4th Jul 18, 7:22 PM
    • #9
    • 4th Jul 18, 7:22 PM
    Itís explicitly stated on the switching page that this is sufficient.

    To get the £100 cashback, do I have to pay in £1,500 as one payment?

    The £1,500 can be paid into your account as one payment or multiple smaller payments, but the total amount must be at least £1,500 before 24 August.
    • soulsaver
    • By soulsaver 4th Jul 18, 7:49 PM
    • 2,112 Posts
    • 967 Thanks
    soulsaver
    I found out you don't actually need the same banks card reader. They all do it. That I was told by Nat West when I joined them earlier in the year and after I ordered the reader.
    Originally posted by 2Lancahire Lassie
    They don't ALL do it. Many do, but there are exceptions, and sometimes you MUST order the card reader to initiate the facility, even if you can use another bank reader.

    So, if you intend to use another bank reader, don't leave it late to test it...
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,833Posts Today

7,908Users online

Martin's Twitter