Iāve completed nationwide and Lloydās and received the bonuses.
Santander and RBS switched, but need to wait for their bonuses.
Thatās them all exhausted for me now.
Time to settle my credit report down a bit
Iāve completed nationwide and Lloydās and received the bonuses.
Santander and RBS switched, but need to wait for their bonuses.
Thatās them all exhausted for me now.
Time to settle my credit report down a bit
Iāve hit all the triggers for the Santander switch as of today so Iām curious to know how long before the Ā£130 comes.
Within 60 days of telling us to switch your account, youāll need to complete the switch, set up 2 active Direct Debits, pay in Ā£1,000 and log on to Online or Mobile Banking.
Weāll take care of your switch, using the Current Account Switch Service. 60 days after you tell us to switch your account, weāll check to make sure you are eligible and then pay Ā£130 cashback into your account within the next 30 days
Iāve done all the above, so I wonder, is it 30 days from yesterday they check the switch completed and pay the money? As my switch fully completed yesterday.
Iāve switched too. I think itās within 60-90 days (max).
Edit: so I started the switch on the 16th Sep so between 15th Nov and 15th Dec for me.
3.1 We will assess the Qualifying Account 60 days after the
switch has been instructed to decide whether you have
qualified for the Switcher Offer and the Cashback Payment
under these Terms. If you qualify, we will make the Cashback
Payment to you within the next 30 days following our
decision.
Thatās quite the time frame. It says within the switch being instructed, as you can choose up to 60 days in advance I think? I may be wrong.
Iāll keep updated
Iām guessing the 60 days is to make sure you arenāt doing the quick switch and switch away and also to check the two DDs are active too.
I reading it as 60 days from the date you made the application to switch rather than the date it switched. They then check and give an up to 30 days to expect the payment. So Iām hoping its nearer the 60 rather than the 90.
Its a shame they canāt just run the check every day until valid rather than once on the 60th day.
I havenāt spotted any congrats emails or alerts to say Iāve met the conditions.
Iāve not received any indication of notification, I just know Iāve reached all the correct triggers.
I think itāll be an automated script checking once at that 60 day point from the instruction to switch. So in theory the best outcome is getting paid on day 60
Im guessing day 60-65 depending on how its paid.
How are you convinced itāll be sooner?
Because the wording says similar to we will check your switch has been requested within 60 daysā¦ thatās a simple check, should be automated, and then paid within 30 days.
My assumption was due to being able to select 60 days in the future for a cass, so 30 days from that date. Mine was done the same time of account opening and completed within 7 days opening account.
They could just mark it out more clearly to set peoples expectations.
Iāll keep this updated on the journey.
Just used this to set up two direct debits on a Virgin account to switch into Nationwide. How long until the direct debits are active and can be switched?
Iāve noticed in Monzo it takes around 2 working days to set up a direct debit to the account.
Thanks!
Looking at terms though which need to be accurate it has after 60 and then within 30 after that decision.
We will assess the Qualifying Account 60 days after the switch has been instructed to decide whether you have qualified for the Switcher Offer and the Cashback Payment under these Terms.
If you qualify, we will make the Cashback
Payment to you within the next 30 days following our decision.
Seems a hard cut way to keep people with them
It was same as any other direct debit, I think - a couple of days
It can be up to 10 working days, and some merchants donāt bother to set Direct Debits up in advance, they just initiate the setup when the first payment is claimed - meaning that payment leaves your account slightly later than expected.
So you never quite know!
It depends on the company in my experience My Thames Water one appeared in my Monzo account the day after Iād set it up, but soe have taken over a week,
Iāve done Nationwide and Lloyds now - both paid out the day after I switched. Iām now doing the Santander one whick takes a bit longer. I notcied that Natwest are doing one too so I might give that a go too - Iām not sure Iāll get paid by Santander before their offer ends so I might have to open a donor bank account somewhere to transfer from.
I think itās just that you need to have requested to switch by the 21st October not that it needs to have switched by then
This offer applies to requests to switch that we receive on or before 21 October 2021. It can be withdrawn at any time.
90 days for Santander apparently Iām a month in so Iāll update when it drops.