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  • FIRST POST
    • 7sefton
    • By 7sefton 10th Nov 18, 7:08 PM
    • 455Posts
    • 104Thanks
    7sefton
    Are banks’ systems smart enough to detect multiple switches?
    • #1
    • 10th Nov 18, 7:08 PM
    Are banks’ systems smart enough to detect multiple switches? 10th Nov 18 at 7:08 PM
    Like any good Moneysaver, I’ve exhausted each and every bank switch offer.

    All banks tend to have a clause in their T&Cs saying you won’t qualify for a cash switch bonus if you’ve switched to them before.

    But I’m wondering if banks’ systems are even able to detect a customer who opens & switches another account a few months in advance?

    From what I’ve seen, a lot of the old banks don’t have the smartest of IT systems so I’m tempted to try my luck...

    Does anyone have any successful experiences?
Page 1
    • masonic
    • By masonic 10th Nov 18, 7:28 PM
    • 10,135 Posts
    • 7,427 Thanks
    masonic
    • #2
    • 10th Nov 18, 7:28 PM
    • #2
    • 10th Nov 18, 7:28 PM
    I have an unsuccessful experience. But YMMV, people have discovered all sorts of interesting loopholes through trying things out.
    • Hattie625
    • By Hattie625 10th Nov 18, 7:59 PM
    • 801 Posts
    • 682 Thanks
    Hattie625
    • #3
    • 10th Nov 18, 7:59 PM
    • #3
    • 10th Nov 18, 7:59 PM
    I had an apparently "successful" experience in Feb 2018, receiving a switch bonus from a bank which had paid me a switch bonus in early 2016. I won't reveal the bank involved, but it can happen. No fraud was involved. I opened a new current account with the bank, having closed the original one some months previously, and applied to switch an account with another bank to the new account, and the bonus amount appeared in the new account without my asking. The only information on the statement was "credit to account". The account is still open and I have been awaiting clawback for 9 months but it hasn't happened...yet.
    • EarthBoy
    • By EarthBoy 10th Nov 18, 8:14 PM
    • 1,997 Posts
    • 1,329 Thanks
    EarthBoy
    • #4
    • 10th Nov 18, 8:14 PM
    • #4
    • 10th Nov 18, 8:14 PM
    First Direct won't pay a joining bonus to any previous customers, even if they haven't had a joining bonus previously. There have been many reports on this forum, over the years, that they recognise previous customers, even after 20 or more years.
    • Katiehound
    • By Katiehound 10th Nov 18, 10:00 PM
    • 4,515 Posts
    • 39,005 Thanks
    Katiehound
    • #5
    • 10th Nov 18, 10:00 PM
    • #5
    • 10th Nov 18, 10:00 PM
    First Direct won't pay a joining bonus to any previous customers, even if they haven't had a joining bonus previously. There have been many reports on this forum, over the years, that they recognise previous customers, even after 20 or more years.
    Originally posted by EarthBoy
    I think the problem may well be that they don't remove your name from their list, so to speak. I had an account with them.......maybe 30 years ago. I am pretty sure that when I closed the account they told me something along those lines- plus I still live at same address.
    Can't remember if I have tried more recently, possibly decided it wasn't worth the hassle!
    Being polite and pleasant doesn't cost anything!
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    • jimjames
    • By jimjames 12th Nov 18, 12:56 PM
    • 12,821 Posts
    • 11,553 Thanks
    jimjames
    • #6
    • 12th Nov 18, 12:56 PM
    • #6
    • 12th Nov 18, 12:56 PM
    First Direct won't pay a joining bonus to any previous customers, even if they haven't had a joining bonus previously. There have been many reports on this forum, over the years, that they recognise previous customers, even after 20 or more years.
    Originally posted by EarthBoy
    I wonder with GDPR if they're now allowed to retain that information for that length of time
    Remember the saying: if it looks too good to be true it almost certainly is.
    • Ergates
    • By Ergates 12th Nov 18, 2:54 PM
    • 247 Posts
    • 342 Thanks
    Ergates
    • #7
    • 12th Nov 18, 2:54 PM
    • #7
    • 12th Nov 18, 2:54 PM
    I wonder with GDPR if they're now allowed to retain that information for that length of time
    Originally posted by jimjames
    If you have a legitimate business reason for doing so.

    However, under GDPR you also have the right to be forgotten. So you could contact the bank and ask them to wipe you from their memory (so to speak) *then* reopen the account with them.
    • PRAISETHESUN
    • By PRAISETHESUN 12th Nov 18, 4:26 PM
    • 459 Posts
    • 223 Thanks
    PRAISETHESUN
    • #8
    • 12th Nov 18, 4:26 PM
    • #8
    • 12th Nov 18, 4:26 PM
    If you have a legitimate business reason for doing so.

    However, under GDPR you also have the right to be forgotten. So you could contact the bank and ask them to wipe you from their memory (so to speak) *then* reopen the account with them.
    Originally posted by Ergates
    I'm pretty sure than financial information is one of those categories of information that are exempt of that particular part of GDPR... otherwise I could open a credit card, max it out and then request that the bank "forget" my debt...
    • gingercordial
    • By gingercordial 12th Nov 18, 4:35 PM
    • 1,248 Posts
    • 1,317 Thanks
    gingercordial
    • #9
    • 12th Nov 18, 4:35 PM
    • #9
    • 12th Nov 18, 4:35 PM
    Like any good Moneysaver, I’ve exhausted each and every bank switch offer.

    All banks tend to have a clause in their T&Cs saying you won’t qualify for a cash switch bonus if you’ve switched to them before.

    But I’m wondering if banks’ systems are even able to detect a customer who opens & switches another account a few months in advance?

    From what I’ve seen, a lot of the old banks don’t have the smartest of IT systems so I’m tempted to try my luck...

    Does anyone have any successful experiences?
    Originally posted by 7sefton
    Only an unsuccessful one. I recently switched an account into Halifax, not aiming to get a bonus but as part of a tidying up exercise to reduce my pile of current accounts. During the switch process one of the update texts I received was to say that unfortunately I was not eligible for the switching bonus as I've had one since January 2012. Fine, I wasn't expecting one and had not enquired about one, but it did surprise me that it was automatically checked and the rejection notified.

    I think the switch that got me the bonus that disqualifies me now was in autumn 2014 so their cross-checking goes back at least that far.
    • jimjames
    • By jimjames 14th Nov 18, 2:02 PM
    • 12,821 Posts
    • 11,553 Thanks
    jimjames
    If you have a legitimate business reason for doing so.

    However, under GDPR you also have the right to be forgotten. So you could contact the bank and ask them to wipe you from their memory (so to speak) *then* reopen the account with them.
    Originally posted by Ergates
    I'm not sure they could claim a legitimate business reason for holding customer details for 20+ years if the customer handled their account in good order
    Remember the saying: if it looks too good to be true it almost certainly is.
    • masonic
    • By masonic 14th Nov 18, 2:17 PM
    • 10,135 Posts
    • 7,427 Thanks
    masonic
    I'm not sure they could claim a legitimate business reason for holding customer details for 20+ years if the customer handled their account in good order
    Originally posted by jimjames
    Is there a statute of limitations for financial crimes, such as fraud, money laundering and tax evasion? If not, then I imagine banks would be obliged to keep records for 20+ years.
    • JuicyJesus
    • By JuicyJesus 14th Nov 18, 3:23 PM
    • 3,346 Posts
    • 3,710 Thanks
    JuicyJesus
    If you were with the bank over six years ago it's possible, but you run the risk of the cashback being declined if they do have records. Some of them you would simply never get away with it. Not even six years is long enough in some cases.

    Some banks keep limited customer records for quite some time - decades even. Usually just enough to confirm that a person was once a customer and maybe basic personal details, while more specific/"deep" information like statement information is deleted. To put it another way, in my mid to late 20s my previous employer held barebones details of the children's savings account I held with them that was closed when I was 12. American Express are particularly famous for holding a blacklist of defaulting customers that they never, ever forgive and will never allow a card again.

    In short you could chance it but you have no guarantee of success, probably no chance of it and would not have a leg to stand on if they did hold any records. Statements and data are also being held for a lot longer because of the risk of future claims against the bank for mis-sale and due to (as masonic says) financial crime regulations, which further reduces your chances of it working.
    Last edited by JuicyJesus; 14-11-2018 at 3:26 PM.
    urs sinserly,
    ~~joosy jeezus~~
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