I just opened a Nationwide account and the option was there to "switch", which I think means they'll transfer all direct debits etc. I've no idea, in reality, how painful / less it would be.

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Did it a few years ago to Nationwide and it was very easy. Everything moved.

so you don't have to notify employer or mortgage company?

I've pocketed about a grand in the last year and a half, just by switching current account and hoovering up the joining bonuses.

Generally, it's a matter of filling in an on-line form in about 20 minutes. No difficulties transferring direct debits. All very easy.

Had a few issues opening an account with Lloyds TSB, but these were unrelated to the actual switch itself. Furthermore, they were so eager to throw compensation at me, I made almost as much as I did from the opening bonus.

Edit: They contact your employer for you to divert your wages. However this is the one aspect I tend to be "belt and braces" about, so I fill in the internal form at work too.

Changed to Halifax for £125 switching reward within 6 days and £3 reward per month, absolutely effortless.

wow, all sounds great! just like moving energy supplier.

Just done mine last week with First Care they were superb, it switches next week. They move everything over including informing my employer but I will check that one to be safe, they cover any costs if they fail to move them over. I even receive cash for moving and a bonus for anyone who who uses my referral codes.

Looking forward to saying farewell to Halifax and their daft charges.

We did it last year: all perfectly smooth.

£125 cash from M&S and £10 a month ongoing onto a gift card, plus we took out M&S credit card, so this year M&S have 'give' us about £350 to spend in store....

I am moving again next month as I can now get £250 cash from Clydesdale...

My move to Halifax went very smoothly. I should really look at moving again and making some easy money.

I am moving again next month as I can now get £250 cash from Clydesdale...

Same here - kerr-ching! I've got the £150 HSBC are offering in my sights thereafter.

I bleat on about this to anyone who'll listen, but you'd be amazed how resistant people are to the idea.

[i]It's literally free money.[/i]

The only problem we had was the need to physically go to a branch of the new bank with passports etc to prove identity; more of a nuisance than a problem, but the bank we were swapping from was internet only and it was a bit of a surprise.

Yep, moved to Nationwide, very easy indeed, even bearing in mind that I decided to do it a week before payday and so was unsure where my wages would go. Turns out it was very easy and literally free money.

Blimey, people on here must have a lot of time to kill. I'd rather be riding my bike than filling in forms.

Blimey, people on here must have a lot of time to kill. I'd rather be riding my bike than filling in forms.

Is there a minimum time you need to stay with a bank for these sing up bonuses? I realize this on a case by case basis, but as a general rule of thumb?
Edit- answered my own q., most require 2 months of use. That's reasonable. If I swap 4 time's a year, that's an extra £1k for no extra work.. Not sure what that does to your credit score though.

I realize how rubbish Barclays has been. No rewards worth having and charges don't make sense.

Blimey, people on here must have a lot of time to kill. I'd rather be riding my bike than filling in forms.

A few less posts on here would cover the time it takes.

I bleat on about this to anyone who'll listen, but you'd be amazed how resistant people are to the idea.

obalti - Member 

Blimey, people on here must have a lot of time to kill. I'd rather be riding my bike than filling in forms.

See what I mean?

Not sure what that does to your credit score though.

Can't see why it would have any bearing on your credit score, unless you're overdrawn and transferring your overdraft (think this rules you out for a lot of banks). Beyond that, you're basically just choosing between Coke and Pepsi.

Blimey, people on here must have a lot of time to kill. I'd rather be riding my bike than filling in forms.

I've hated form filling for decades, not years! 😆

My switch form took ~5mins tops, including logging in to my old account to get the account and sort code number, it was almost too good to be true simple.

Money Savings Expert often has info on which are the best accounts to switch to, depending upon you meeting their criteria, such as number of DDs in place and how much coming into account each month.

I've pocketed about a grand in the last year and a half, just by switching current account and hoovering up the joining bonuses.

Do you not need to stay with the bank a certain amount of time? Or are some banks giving you £500 to switch and you do it once a year.

I really couldn't be bothered but I'm not desperate for cash and don't pay to use a bank account - they pay me.

Do you have to do this with your primary account or could you set up a slave and transfer it around?

I have all sorts of DD's set up on specific dates to cycle money around to meet the criteria of various accounts. A little bit of a pain to have to change it all (though not impossible)

Do you not need to stay with the bank a certain amount of time? Or are some banks giving you £500 to switch and you do it once a year.

It varies, but most pay out within around 30 days of the switch. Higher value bonuses might require a longer wait. Some offer further bonuses for sticking around, but it's seldom worthwhile compared to the bonuses on offer from others to switch.

I am moving again next month as I can now get £250 cash from Clydesdale...

this is what i am looking at, just wondering if not have a branch anywhere near me will be an issue.

Had a look at clydesdale bank but can't see any current accounts that pay interest on accounts, ah found one but it's not very good.

That's the beauty of it: current account doesn't pay sufficient interest? Pocket the bonus and move on.

No branches nearby? Pocket the bonus and move on.

Crap customer service? You get the idea.

Whatever the drawbacks, you needn't hang about after they cough up.

Switched to First Direct last year. Absolute doddle and no issues whatsoever. Looking at the Clydesdale offer now.

Switched to First Direct last year. Absolute doddle and no issues whatsoever.

This, me and the wife both the same experience and £300 better off between us via Money supermarket.