Set up a new bank account but keep my old one kazcooke

#1
Hi all



new to the site and tried to look for this question but didn't see it so here goes.



I'm looking at changing bank accounts so I can get the £150 bonus for joining etc but what I want to do it join up for the account but keep my old one and then every month pay in to the new account from my old account the £1,000 (or what ever it is) to qualify for the bonus.



I know this sounds long and more work then needed but would it work?



Thanks

#2
If you read any of the switching incentive T&Cs you'll see your old account has to be closed.



However, there are ways round it...switch an account you don't mind closing. Haven't got one?...get one!

#3
Sorry one more question too, what if I have a floating £1,000 that I just keep transferring backwards and forwards from the two accounts?



So I use the same £1,000 each month to hit the quota but i take it all out after 3 days and then back in the following month?

#5



Sorry one more question too, what if I have a floating £1,000 that I just keep transferring backwards and forwards from the two accounts?



So I use the same £1,000 each month to hit the quota but i take it all out after 3 days and then back in the following month?
Originally posted by kazcooke


As far as I know they don't mark the notes, so you should be ok.



Why are you leaving 3 days? Do you leave your salary alone for 3 days before starting to spend it?

#6



As far as I know they don't mark the notes, so you should be ok.



Why are you leaving 3 days? Do you leave your salary alone for 3 days before starting to spend it?
Originally posted by YorkshireBoy


3 Days is my golden rule before I can spend, I like to remind myself that the money in there wont go anywhere (apart from bills) and i'm responsible for if it does

#7



Sorry one more question too, what if I have a floating £1,000 that I just keep transferring backwards and forwards from the two accounts?



So I use the same £1,000 each month to hit the quota but i take it all out after 3 days and then back in the following month?
Originally posted by kazcooke


It's what the majority of us on here do. But unless you are using Standing Orders to transfer the money leaving it for 3 days is a very odd thing to do, if you have done the transfer manually then once it has arrived simply transfer it back straight away. If both banks are full members of FPS then the whole thing should be done and dusted in under 10 minutes in most months.

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