Wiki: Current Account Switching Incentives 💸

[Peter_G]

Switching deal then. Very clever - will get much more press (and less paid out) than a flat switching bribe.

[j06 (Jamie)]

And a short break window for pervious customers.

Edit: PREVIOUS!

[cxc (C)]

It’s the same for me so far. Despite setting a passcode and verifying my ID during the application process, I cannot register for or access online banking yet. Customer service have told me in most cases access is available after 7 days from sign up. “When your card arrives in the post, that’s a good sign everything is set up”

[Carlo1460]

And pin card reader thing. Don’t forget that

So historic. Their systems are most likely dated as with most, so upgrading the tech would probs end up like TSB

[Carlo1460]

https://uk.virginmoney.com/current-accounts/switch-offer/?utm_source=facebook&utm_medium=social&utm_campaign=pca_q4_aug_all_in_on_red&utm_term=conversion&utm_content=prospecting

Here it is.

[cxc (C)]

Also, no need to switch in a current account with 2 active direct debits. They can be set up in the VM account after switching

[RSheff]

@andrew_fishy

I had an account with them 5 years ago, I hope I’m eligible still,

No, you’re not eligible. Didn’t you read the conditions first?

[Carlo1460]

I had a HSBC account opened in 2019, and to my surprise after 3 months having my first direct account I got a random £20 added as part of their opening account bonus, which involves the same terms as the switch offer.

If I’d have known I was eligible for the bigger switch offer I would’ve actually switched.

So I’d not take their terms word for word, as I should have been excluded.

I did ask chat about it and they said they can’t check if I’ve had a HSBC account before (possibly didn’t know how to), or just to deter HSBC customers from leaving/switching in.

[j06 (Jamie)]

first direct infamously never pay a bonus if you’ve ever had a previous first direct account, but you never know, you might get lucky.

[coffeemadman (Jonathon 🏳️‍🌈)]

@Carlo1460

So historic. Their systems are most likely dated as with most, so upgrading the tech would probs end up like TSB

I have a Nationwide Flex account, for the benefits, my partner got it and so I downgraded to regular account as two aren’t needed.

… a week later I got a LETTER saying “We couldn’t complete your change, please call us”.

[Carlo1460]

An active direct debit is just moving across, don’t need to be collected.

Halifax through the app but you have to wait for a letter to access online banking, so old school.

[Andyg68uk (Andy Gallagher)]

Ive just started a switch from my starling account over to halifax. Set up paypal direct debit and ebay direct debit to starling to get the two active direct debits beforehand.

Waiting for an “activation” code LETTER before i can get to online banking YAWN!

Will probably switch again based on the experience so far!

[Andyg68uk (Andy Gallagher)]

Ive had a text message to say they’re proceeding with the switch so here’s hoping by the time i get to log in ill be able to see the switch bribe in the account lol

[j06 (Jamie)]

Time to switch your current account? Banks up rewards to lure new customers

Monzo and Starling (and even Triodos) are mentioned.

[cxc (C)]

@ndrw

Nationwide sent me the online banking code thingy, but I still can’t register because they’re ‘setting things up’. How ridiculously antiquated…

I am surprised at how irritatingly slow Nationwide are. I set a passcode for online banking during the application process but somehow this didn’t make it to my actual online banking account. So while trying to register, I’ve blocked myself out of using a passcode and the actual passcode I should have entered arrived in the mail today (which I can’t use now). Now I have to wait on my card, pin, and card reader arriving. Is it a big deal? I mean in the grand scheme of things, no. Is it annoying? Well it annoyed me .

@andrew_fishy

I had a letter from Virgin Money, who by the way don’t use their own branding, on their own letters (they use Yorkshire bank and Clydesdale)

My local Virgin Money branch doesn’t even have a branded stamp to use on official documents. They have a Clydesdale one that they’ve been “told not to use”…

[j06 (Jamie)]

Yes. Initiated switch to Halifax on Saturday 6th, got a text straight away, and then another on Tuesday confirming the switch date being the 16th, which was indeed seven working days.

£150 was paid mid-switch, on the 10th.

[Revels]

Is there/can there be a guide, or something in incredibly simple terms on what’s a good order to do this and what’s required?

E.g.

Start with an account that doesn’t belong to any of the below/Starling

Starling > BankyBank
Requirements - Two active direct debits

BankyBank > OtherBank
Requirements - Pay in £1,000

etc etc

[Lightning720]

It seems that Santander has increased their switch offer by £15 to £175…

Or have they…

[Lightning720]

There is one issue with the “more money” though - they haven’t updated the other pages as they still say £160. Have they actually updated it or is it just a mistake?

[j06 (Jamie)]

Even Ant and Dec don’t seem to know there!

It’ll piss me right off (but not much) if I’m only eligible for £160 having initiated my switch before £175 popped up.