Switching from Monzo

Yeah but I opened RBS for switch offer between period of exclusion. Will I still succeed then?

You can’t have opened the account before 13/2. If you open it today, then you can get £200 then £200 then £200

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Got it.

So I’ll change the “You can’t” to “I can’t” :sob:

I have no switches left that I am eligible for :man_shrugging:

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Pro tip: Keep your main account the same and switch a burner account.

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Yeah its poorly written terms.

1st October 2017 and 13th February 2023

So before Oct 2017 and after 13th February its £600

Between that time period its zero. :neutral_face:

Im in the zero, my wife gets £600

However im getting the £200 HSBC hopefully :crossed_fingers:

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Funnily enough I just setup a Co-Op account for a future CASS switchable bonus.

I had previously CASS’d an unused Metro into NatWest but now I’m using NatWest for their 6% saver I need to keep the account there.

Might do the Ulster and RBS ones as well in the future but just want to space new accounts out a bit so it doesn’t look too crazy on my credit rating.

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Coop one is useless. Poor app. And slow in opening accounts for you to take advantage of refer a friend offer. Two months and son’s account still not open so no way they’ll pay the £125 x2 now :man_shrugging:

My credit rating went haywire 2016/17 and 2020/21, all for same reason. Switches. Made four figures easily. Now none left for me.

I dont know how it can affect some and not others. I switch all the time and not a sausage to the CRA scoring.


Has anyone ever seen 710?

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It’s :clap: all :clap: made :clap: up :clap:

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Define all the time?

One every few months won’t mess with your numbers much if at all.

Doing loads of over a short time will. Especially if you’re rapidly opening and switching what is effectively a burner.

As I became re-eligible for many of the switch offers again recently, I probably opened 6 or 7 RBS accounts only to promptly switch as soon as the account appeared in the app and I could get the card number for the switch forms.

I then opened one more RBS accounts to switch all these extra accounts I never really wanted back into it once I got paid so I don’t have them all lying around.

And then Santander did one, so switched that RBS to Santander, opened a new RBS account, and switched Santander back into it.

My 999 Experian dropped to a low of 480ish. It’s now back at 798 a month later.

The one in Monzo (which I think is the same as your second screenshot) hasn’t gone back up at all since the first switch tanked it. Just been going down and down as I’ve done more. Yet to recover.

Never checked the third one.

As soon as there’s a valid incentive i switch basically. It usually is a case of waiting a year or two to become valid again and then collecting them one after each other. Its usually staggered so that there’s usually a few to get whilst others are waiting.

You’ll find all the banks tend to follow each other in one-upping each other in waves.

So ive gone TSB > Coop > HSBC now over a few months. I would say three over six months sometimes four depending on other hardsearches.

Ive done this over the last decade or so. :sweat_smile:

My wife has done the NatWest/RBS/Ulster tango and the hard searches are visible on hers and no drop. These are switching away the day it pays so three over a month and a bit.

Is it a case you are getting a new overdraft each time and applying for credit? I always set it to zero.

Getting credit would make sense there’s a drop, but not a new place to store your money. A lender won’t give a diddly about that.

A good test will be @Revels whos done a clean sweep recently for almost £2k :palms_up_together:

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Mines at 643 currently.

Not unhappy with that considering the money I’ve had in the last 6 months.

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My scores have dropped some 50-odd points each but they were never anywhere near the top anyway

Do you have your salary and DDs set up in the burner account? I’ve never switched but seems mad not to right now. I have an unused Nationwide current account that I used for their 5% interest offer a few years back. Just need to understand what I need to move to it before switching…

Nope.

I use this x2 - https://www.onepounddd.com/

Then put money in and take it back out if that’s required.

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Never use your main account for switches, unless you intend to keep that new account as your main account.

It’s dead easy to create a donor account now, sometimes with existing bank, and switch switch switch.

My donor account now sits with Co-op, waiting until I ever become eligible for any more switches. Last wait was over three years :man_facepalming:

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Can I ask, did the Ulster bank process go smoothly for your wife? I applied for the Ulster switch successfully online a few days ago. Had no email or text acknowledgement from them, just the application reference which I screenshot. Just had a letter asking me to take my ID docs into branch, unless I’ve already successfully submitted them online. I’ve had no invitation to submit them online, can’t log into their digidocs system without an invite.
So as I don’t live in NI, I seemingly can’t continue? Frustrated here!

Have a look at some of the more recent posts in this thread

Ulster is really old/slow. All I (and many others) did was sign the form and send it back. I didn’t provide any ID online either, but still got the account open and the free money.

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