07 Jul 2015

A question about : Cashback sites and switching current accounts

Top Cashback are offering Ј80.80 to switch your current account to Nationwide's Flexdirect. As I don't want to switch my current account but do want the Flexdirect account to park Ј2500 @ 5% in, and to be frank they may as well pay me Ј80.80 as well for the privilege of my custom, what do I need in a dummy account to enable the switch?

Say for example I opened a current account with Ј50 at Tesco Bank for the sole purpose of switching it to Nationwide, with no direct debits going in or out.
Would this satisfy their criteria to trigger the Ј80 payment? Or would I need to have DD's going in and out, so it at least looks like its a 'real' account? If anyone has experience doing this I would be grateful for advice!

Best answers:

  • what do the switching T&Cs state n TCB?... from what i can see no mention of requiring any DDs.
  • ...although if you do set up a couple of DDs on the donor account, there's an extra Ј50 available via their refer a friend scheme.
    Easily achievable with Tesco savings accounts, although you perhaps might want to go with a different current account provider. Suggest TSB or RBS.
  • Yeh I couldn't see anything either.
    Topcashback:
    You will be eligible for the cashback if you open a Nationwide FlexAccount, FlexDirect or FlexPlus account following the link on this page and, within 45 days of the account being opened, you complete a full switch of your existing non-Nationwide current account using the Current Account Switching Service.
    Nationwide:
    To switch you'll need:
    the name of your current bank or building society
    your sort code
    your account number
    to switch to an account in the same name (whether you're opening a joint or sole account).
  • Nothing needs to be in the switching out account for the Cashback Site incentive, I tended to put a small balance in mine not that there is any requirement to do so.
  • Super! that certainly makes life easier!
    In that case I will just create a Natwest Basic bank account with an initial Ј50 and swap that.
  • Hi,
    I just came here to ask the same question as was looking to do the exact same thing as the OP. Except I want the FlexPlus account.
    My question though, are there any bank accounts that I can apply for that don't do a search on my credit file? (Don't want to affect my 'credit score' by looking like applying for many cards at once!)
    Thanks.
  • Re the FlexPlus, don't forget to get someone to refer you (via Nationwide's RAF scheme) in addition to applying through the cashback site![/QUOTE]
    does this definitely work so you get the cashback and the raf money?
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