I think that's only if your wages go into the account it's switching from. I made the move to an HSBC account last year from a burner which my wages didn't go into and had no issues. It only changed over the things attached to the burner account.
Does anyone keep switching banks for the bonus?
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I think that's only if your wages go into the account it's switching from. I made the move to an HSBC account last year from a burner which my wages didn't go into and had no issues. It only changed over the things attached to the burner account.
Switch guarantee only takes from the source account. How would they change your salary?
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Had my £125 Nationwide money go in the other day, closing my 1 year old HSBC account that closed the Nationwide account I had before
Soldato
Switch guarantee only takes from the source account. How would they change your salary?
A salary going into a bank account isn't a standing order or direct debit attached to that account in any way. When you fill in the application form for the new account, it asks for your employer details. What would stop there being a process whereby the bank could send your employer an instruction to divert your salary into the new account?
Switch Guarantee establishes an auto forwarder which means payments to your old account (for something like 2 years) are auto forwarded to your new account. The auto forwarding service then notifies the source that you have swapped details and to update their records.
If they used your employers details, and I'm assuming you mean the employers details for credit check, for switching your salary payments - I'm sure there would be hell to pay, and probably a breach of GDPR ('gathering only the info you need to do the precise thing you need it for unless clearly otherwise stated').
Happy to be corrected.
Soldato
Ah ok that makes sense. So its misleading really to say that they switch your account with your employer - its actually that the employer gets notified of the account closure.
Anyway as I started the application and left it for 10 minutes, it timed out. Going though it again resulted in a decline (after being accepted the first time). I now have to contact them and try and see what's happening and what has actually been opened.
This seems more troublesome than it used to be a few years ago. Maybe it is no longer worth the hassle for £100.
Santander - I can switch an account to them but only in branch because I already have another Santander account. So that means a trip to the branch. Again, is it worth £100?
Anyway as I started the application and left it for 10 minutes, it timed out. Going though it again resulted in a decline (after being accepted the first time). I now have to contact them and try and see what's happening and what has actually been opened.
This seems more troublesome than it used to be a few years ago. Maybe it is no longer worth the hassle for £100.
Santander - I can switch an account to them but only in branch because I already have another Santander account. So that means a trip to the branch. Again, is it worth £100?