Current Accounts

mrk said:
Hmm perhaps I do need to look into this then. 1000 in 24 months is pretty amazing^
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Provided you don't need to apply for credit/loans/mortgages any time soon. Otherwise turning over 10 current accounts in 24 months looks a bit odd.
 
Redgie said:
Provided you don't need to apply for credit/loans/mortgages any time soon. Otherwise turning over 10 current accounts in 24 months looks a bit odd.
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You don't turn them over, only the first direct one offers money on leaving, so that's the only one you would look at closing, the rest you keep open.

The others you mainly earn that amount of money from the interest on the account, so you need quite a bit to start with to max out the limits (like ~£40k)
 
Freakbro said:
You don't turn them over, only the first direct one offers money on leaving, so that's the only one you would look at closing.

The others you mainly earn that amount of money from the interest on the account, so you need quite a bit to start with to max out the limits (like ~£40k)
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You're talking about normal interest, he (and subsequently I) was referencing Peerzy's post on switching bank accounts to earn money:

Peerzy said:
I've earned over £1000 in the last 24 months by switching bank accounts.

My main current account (the one my salary is paid into and real direct debits come out of) hasn't changed once in this time.
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Hmm, yea, I didn't think there were £1000 worth of switch incentives out there, but maybe there is if you look at the smaller/more obscure banks like Clydesdale, M&S etc
 
Freakbro said:
Hmm, yea, I didn't think there were £1000 worth of switch incentives out there, but maybe there is if you look at the smaller/more obscure banks like Clydesdale, M&S etc
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Some of them have now gone but new ones do pop up. The recent ones I've done are;

First Direct
M&S
Halifax
Nationwide
TSB
Clydesdale
Yorkshire
Santander (Quidco)

The Yorkshire one you can actually do multiple times, people on MSE got over £1000 just from them as an example.
 
I didn't realise you can do it with second "current account" bank accounts. For example Halifax will give you the bonus if you move a current account from somewhere else even if you do it to set up a second "current account".
 
co-op now offer a current account that pays you £4/month plus 5p for each time you use your debit card up to a maximum of 30 times a month so you'd get between £4 and £5.50
 
MaX_PoWah said:
I didn't realise you can do it with second "current account" bank accounts. For example Halifax will give you the bonus if you move a current account from somewhere else even if you do it to set up a second "current account".
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Yep, same with joint accounts. At Santander you can have a current account each and a joint account = 3 lots of Interest :)
 
Basher said:
I left FirstDirect about 18months ago and it's one of the best things I've done. So much better off with Santander. The support is great and we get a chunk of cashback (about £100) every month.
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What went wrong?

I have found their CS to be flawless. They impress me every time I call them.
 
PapaLazaru said:
What went wrong?

I have found their CS to be flawless. They impress me every time I call them.
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Their CS is great, but I called them maybe once every 6 months. They didn't provide much of an incentive to stay vs getting £100 a month from Santander.

Also, I've called Santander maybe 2 times and have not had a single issue.
 
Basher said:
Their CS is great, but I called them maybe once every 6 months. They didn't provide much of an incentive to stay vs getting £100 a month from Santander.

Also, I've called Santander maybe 2 times and have not had a single issue.
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Your post indicated they had caused you problems, not just because they did not offer you money to stay!

2 calls and not a single issue is hardly a measure of competency either. :D

Unless they have made significant improvements over the last 2 years I would not touch them with a bargepole, £100 or not.

They have lost cheques of mine on more than one occasion worth way more than that.
 
I've been with FirstDirect for years. Great service, as others have said, but little other incentive. I've been keeping a watch on the developments at Atom Bank just to see what the challengers may offer.
 
PapaLazaru said:
Your post indicated they had caused you problems, not just because they did not offer you money to stay!

2 calls and not a single issue is hardly a measure of competency either. :D

Unless they have made significant improvements over the last 2 years I would not touch them with a bargepole, £100 or not.

They have lost cheques of mine on more than one occasion worth way more than that.
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No, it says it's the best thing I have done. I get paid £1,200 a year to be with Santander which is a whole lot better than any deal FD gave me.
 
I've been with Natwest for years. Don't know why though, I've never received any loyalty rewards. My friend who uses Nationwide always seems to be getting freebies.
 
glen8 said:
I've been with Natwest for years. Don't know why though, I've never received any loyalty rewards. My friend who uses Nationwide always seems to be getting freebies.
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Time to switch :) Or at least start taking advantage of RBS/NatWest's cashback deals!
 
Uther said:
Do it, took me about ten minutes. We have two 123 accounts now, easy money.
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Yup, and lots of it too!

Just a note to everyone considering it though, if you're going to have less than £9,200 in a Santander 123, you're better off with a Club Lloyds!
 
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