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Moneysupermarket Bank Transfer Offers, Has Anyone Done This?

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I subscribe to the Moneysupermarket newsletter, in the latest one it listed a number of offers where you got paid £ for changing bank accounts, as anyone done this & if so is it as easy as it sounds ? I don't want to be penalised for late payments if my direct debits don't get paid on time.

beccatavender
1 month ago
What do you think of this?
Imnotcheap
Imnotcheap1 month ago

We changed banks years ago and got some money but ended up losing because they messed up direct debits

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neo1
neo11 month ago

Yeah ive done it a few times, with my main account and with a spare account just to get the switching bonus. Never had a problem 👍 just make sure you read the t&c's and have enough DD's and deposit enough in the account each month etc etc

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Mango4
Mango41 month ago

Done this a couple of times over the past few years and didn't have a problem , mainly due to the fact I was unhappy with my current bank Halifax, so switched to TSB , didn't find them any better so with Lloyds now and so far quite happy.

Most banks now use the current account switch service anyway which guarantee to transfer everything over within 7 days, any charges incurred due to a delay or failure in switching process is guaranteed to be refunded to you . https://www.currentaccountswitch.co.uk/helpandsupport/Pages/Help.aspx

In reality it took 10-12 days for me but you can continue to use your old account right up to the day of transfer , and any future transactions within the next two year that go to your old account automatically gets redirected to your new bank ,it was pretty seamless for me anyway .

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mrgoggll
mrgoggll1 month ago

How much does one get for switching and what's the advantage ??

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janettedownes6
janettedownes61 month ago

It depends on the bank and offers sometimes you can get up to £200.

but you normally have to pay in a certain amount each month and have direct debits,

some ask for your wages to come.

best place to look is on the website, it will change frequently

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mrgoggll
mrgoggll1 month ago

janettedownes6 Thanks , seems like more trouble than it's worth though

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