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Author Topic: Bank account switching  (Read 3093 times)
The Artist Formerly Known as Audrey

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« on: Friday, February 16, 2024, 10:24:47 »

Anybody done multiple account switching just to get the switch bonus
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Sippo
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« Reply #1 on: Friday, February 16, 2024, 10:49:52 »

Yes but you have to be a 'new' customer and not a returning one.

Piece of piss and I do it regularly.
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If my calculations are correct, when this baby hits 88 miles per hour, you're gonna see some serious shit...
The Artist Formerly Known as Audrey

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« Reply #2 on: Friday, February 16, 2024, 10:51:57 »

Iím doing it now. Seems crazy. Nat West have just launched their £200 switch.
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Sippo
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« Reply #3 on: Friday, February 16, 2024, 10:53:28 »

Easy money. Most people don't do it due to the 'hassle' of initial setup.
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If my calculations are correct, when this baby hits 88 miles per hour, you're gonna see some serious shit...
The Artist Formerly Known as Audrey

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« Reply #4 on: Friday, February 16, 2024, 10:56:50 »

Iíve just opened a Nat West account on line in less than 10 minutes.

Started off opening a Ďburnerí Starling account and now going to bounce around all the banks offering a bonus.

After Iíve exhausted that Iíll get Mrs Audrey to replicate.
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Batch
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« Reply #5 on: Friday, February 16, 2024, 11:08:24 »

are there any credit rating implications of switching  fairly rapidly between banks?

edit:

https://www.unbiased.co.uk/discover/personal-finance/budgeting/does-switching-bank-accounts-affect-your-credit-score
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The Artist Formerly Known as Audrey

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« Reply #6 on: Friday, February 16, 2024, 11:10:40 »

Tbh, that makes no difference to me, but I suspect it would. But Iím keeping my Nationwide account Iíve had for years.
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« Reply #7 on: Friday, February 16, 2024, 11:11:12 »

fair does. fleece them.. fleece them all!
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Bob's Orange
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« Reply #8 on: Friday, February 16, 2024, 11:15:14 »

The only downside is that doing that (I think it might be only temporary anyway) affects your credit score, but if you don't need anything on 'tick then it seems a no-brainer to do.

I haven't personally done switching - I'm a bit old fashioned with loyalty to my bank which I know is absolutely crazy, but I did take advantage of an offer last year by opening a new account with HSBC from which I got £125 and will get a further £80 from them for opening a separate global account. (which I can use abroad along with Revolut)

There are loads of offers at the moment so it makes sense to fill your boots whilst interest rates are high for sure.
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we've been to Aberdeen, we hate the Hibs, they make us spew up, so make some noise,
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The Artist Formerly Known as Audrey

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« Reply #9 on: Friday, February 16, 2024, 11:52:30 »

Same with me. So I didnít switch my Nationwide account, I just opened a new Starling account and switched that, now onto Bat West, then Lloyds etc
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Bob's Orange
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« Reply #10 on: Friday, February 16, 2024, 13:35:21 »

Same with me. So I didnít switch my Nationwide account, I just opened a new Starling account and switched that, now onto Bat West, then Lloyds etc

Really good plan! Do you need a certain amount in the Starling account to begin with and a number of Direct Debits etc or did you literally open an account and start switching?
« Last Edit: Friday, February 16, 2024, 13:49:23 by Bob's Orange » Logged

we've been to Aberdeen, we hate the Hibs, they make us spew up, so make some noise,
the gorgie boys, for Hearts in Europe.
The Artist Formerly Known as Audrey

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« Reply #11 on: Friday, February 16, 2024, 13:47:21 »

The Starling is a burner account - just opened so I can switch it to the bank offering the bonus. I stuck £200 in it.

That is now getting switched to Nat West. I have to deposit £1250 in that, leave it in for a couple of days, then withdraw it. Log on to their app a few times and then they credit the £200 within 7 days. Donít even need any direct debits for this one.

Once I get my £200, Iíll open a Lloyds account and switch the Nat West one, get £175 for that though they need 2 active direct debits. Again, once I get the £175 Iíll open another account with whoever is offering a switch bonus.

These offers are available for a fixed time then wihdrawn so you have to keep an eye on things.
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Jimmy HaveHave

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« Reply #12 on: Friday, February 16, 2024, 20:28:36 »

Iíve been with Santander for years and get more in interest per year than you would switching banks.
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So, give no fucks
The Artist Formerly Known as Audrey

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« Reply #13 on: Friday, February 16, 2024, 20:48:24 »

But it doesnít cost a penny and you donít have to ditch your present bank account.
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Jimmy HaveHave

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« Reply #14 on: Friday, February 16, 2024, 20:49:34 »

Do you have to put so much in a month
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So, give no fucks
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