Switching bank accounts and getting money

Biffo The Bear said:
Drawing cash is a pain. I quite enjoy the game.
"Can you tell me why you are drawing the cash?".... "No!".
"Could you not use your debit card?"...... " Probably".
"Do you have a mortgage?"..... "Yes"......"No I do not want to discuss it with you".
Depositing is a similar fuck on.
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As I always say on these sort of threads, why restrict yourself to a single bank?

I've currently got currently accounts with 8 different banks. Cream off all the perks & take as much as possible from them. Keep a few donar accounts spare for the sole reason of switching.
 


42 said:
As I always say on these sort of threads, why restrict yourself to a single bank?

I've currently got currently accounts with 8 different banks. Cream off all the perks & take as much as possible from them. Keep a few donar accounts spare for the sole reason of switching.
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I have more than one. As I spend most of my time overseas I don't need more than one in UK. Be meaning to switch to First Direct just never gotten around it it.
 
Biffo The Bear said:
I have more than one. As I spend most of my time overseas I don't need more than one in UK. Be meaning to switch to First Direct just never gotten around it it.
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There's 'need' & then there's covering yourself & playing the system.
If I only had the 1, I'd be £500 a year worse off & leaving myself open to banking system going down / cockups
 
It's piss easy to do. Just switched over to Nationwide for £125, must have made almost a grand on switching fees over the years. Will switch again a year fom now to whoever has the best offer on. The only people who complain any banks customer service issues are scratters who are useless with money.
 
Switched the account I manage for a sports club, which literally just has membership fees and bits of expenses going through it.

Received £1,250 to move.

Thanks Fred the Shred!
 
droppedshoulder said:
There’s a few offers on from banks , where you get a hundred quid or so for switching. Has anyone done this, and what’s the catch? I’ve always believed there’s no such thing as free money, yet there seems to be more and more opportunities for free money when you look about online.
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There’s a “ How to Guide” on Money saving Expert. Plenty of people make a few hundred quid a year doing it.
 
42 said:
There's 'need' & then there's covering yourself & playing the system.
If I only had the 1, I'd be £500 a year worse off & leaving myself open to banking system going down / cockups
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£500 a year? Presumably that includes savings interest etc.?

I've switched through most now (although not Santander), it's a bit like bookies offers. Free cash for a while but after a couple of years you no longer qualify.
 
Edinburgh Black Cat said:
£500 a year? Presumably that includes savings interest etc.?

I've switched through most now (although not Santander), it's a bit like bookies offers. Free cash for a while but after a couple of years you no longer qualify.
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Thinking about it, it's dropped a bit recently but also includes credit card cashback.

When I first started, think I made about £2.5k in first year (got 3 switches, had a ton of stoozed debt at good rates, cash recycling etc)

Currently got 2 Halifax rewards, get £10 a month on that. Couple of quid a month on santanders 123, couple of quid from co-ops rewards (which has recently halved). Couple of quid from Tesco in extra clubcard points (which is ending next month). Probably get a switch in once a year, did the virgin one at the start of the year for a free crate of wine supposedly worth £180. Got a modest amount stoozed (£1k @ 2% virgin, rest in lloyds @ 0.6%)
 
I switched to the santander 123 a few year ago, they gave you cashback each month on all your direct debits, only needed to pay in 500 pound and have a few DD set up, so I kept my main Halifax one, then when I get paid 500 goes straight in the Santender account.

When I first set it up I was getting about 9 pound a month cashback on my bills after the 1 pound fee, but they rearranged the things you got cash back on and made it a monthly 2 pound fee, now I only get about 2 pound odd.
 
Charmless Man said:
Did it moving to HSBC recently. £150 and all direct debits/standing orders switched over.

It was literally free money and I’d been thinking of leaving NatWest for a while as I’ve found them absolutely shit.
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Did the same and HSBC are really poor imo. It has improved but the mobile/digital services of Halifax are lightyears ahead...
 
42 said:
Thinking about it, it's dropped a bit recently but also includes credit card cashback.

When I first started, think I made about £2.5k in first year (got 3 switches, had a ton of stoozed debt at good rates, cash recycling etc)

Currently got 2 Halifax rewards, get £10 a month on that. Couple of quid a month on santanders 123, couple of quid from co-ops rewards (which has recently halved). Couple of quid from Tesco in extra clubcard points (which is ending next month). Probably get a switch in once a year, did the virgin one at the start of the year for a free crate of wine supposedly worth £180. Got a modest amount stoozed (£1k @ 2% virgin, rest in lloyds @ 0.6%)
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I have 3 left (1 with cashback on bills, 1 with interest on deposits, and 1 which is a decent all rounder - don't use it much but gave me £125 for binning TSB). Also got 3 credit cards, 2 with domestic cashback, 2 with free foreign withdrawals.

As you say, it pays to have a mix and use them to your advantage.
 

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