Worth taking a look at this…
I guess that covers bank switches as well. I’ve done several CASS which have paid out a few hundred quid over the last 6 years, far more than I’d have earned in interest from any of these poor savings offerings. I mean, take the FD and HSBC CASS promotions, if you haven’t already got an account with either or not had one for a few years, you might as well do that as it pees all over their tiny interest accounts.
1 Like
I don’t think bank switch rewards are taxable. But not 100% sure.
1 Like
Me neither. To be fair, my FD bonus was in one hand straight out the other. I had a filling at my private dentist and it cost £150 exactly, so I only had the cash for a couple of days and it was gone 
1 Like
Or just CASS your FD account to a Nationwide Flex account and bust a free £100 out of the deal. Let’s face it, if you’re prepared to do the FD paper chase just to open the RS account for such a lousy return (after all, it really is all about the money!) you might as well CASS. Assuming of course you don’t already have a Nationwide account or not switched from them previously.
They’re not. They are an incentive (like a loyalty discount or cash back on a purchase).
I don’t have an FD, NatWest or Nationwide account yet. So any regular savers would involve opening a new account. Would quite like to benefit from the First Direct switch offer too, but also don’t have any donor accounts. So that’s 2-3 current account applications 
2 Likes
I take it then you’ve only got one current account? and you don’t fancy switching? I admit, I reap the benefits of having 3 current sole accounts, one of which will always be fair play for a CASS out if the right deal comes up. No real loyalty from me when it comes to banks. FD will only last the year for me but Starling are equally in the frame for a CASS out as they’re not really moving much these days and the whole thing has just got stale imo. Plus, Chase is kicking them in the teeth imo by offering a debit card that equals Starling’s offering on a travel perspective. The beauty of CASS of course is that you can just sack your bank without any explanation, no different to what they can do if they don’t want your custom any more and they won’t tell you either because they just hide behind legislation.
Trouble with FD, as anyone here who is a customer knows, they are still operating 1970’s banking practises but with an App and doing that everything by post rubbish. Yes, you do get a fair bit of annoying paperwork from them, but it does only amount to a couple of hundred grammes, not the 2 kilos some would have you believe
If you do go for their RS account, then fair play, but I still think it’s a lot of work personally for a max of 60 odd quid for the year.
1 Like
Good job too, otherwise I’d have been creamed on tax from the hundreds I’ve also earned from TopCashback.
2 Likes
The issue is I have 3 current accounts, 1 joint account, and 4 credit cards it’s all getting a bit much to keep track of, but nothing I’d be willing to switch. And then I’d need another account for the NatWest RS, one for the First Direct RS and maybe a third one to do switch bonuses.
Not going to bin my Chase account as they are coming up with good stuff even if I don’t use them much at the moment. I use my RBS account for day to day banking (this I would potentially CASS if the Child & Co branding went, but not yet) and I have lots of Barclays products so I don’t feel like I could switch my account with them either (if Child & Co ever do go, I think I’d move back to Barclays).
It’s all annoying. I wish I could open a NatWest account and CASS it straightaway while keeping their RS, but that’s not how it works…
I tend to look at lots of money making opportunities like cashback sites as too much work, but I don’t think an RS is too much work, especially as the bulk of my money is with NS&I earning sweet naff all
1 Like
And yet, to be honest, they are often the easiest way of making extra cash. I’ve swapped home broadband contracts several times using TCB and made a few hundred pounds doing so just clicking the link through to the relevant site. Never even had a problem with tracking. Same with car insurance, this is why I often only pay £130 to £170 a year fully comp because I get £80 to £100 back. But I get it, what works for some, doesn’t always work for others.
I CASS’ed my RBS account to FD, that’s how I got my free £150. I suspect you’re only doing this whole thing with Child & Co because of the ‘kudos’ of holding their card? To be honest, does it really actually matter? What at the end of the day are you actually getting out of it? I get it you’re not the only one, let’s face it, there’s a whole thread on this forum about all of the folks who jimmyed themselves a Child & Co account. I’m not knocking you or any of the rest of them, but really, there probably wasn’t much point to it all at the end of the day except wallet bling 
1 Like
At the risk of derailing this topic it’s not really about kudos/wallet bling, considering that I use Apple Pay and even if I used physical cards, most people wouldn’t have a scooby about what Child & Co is. It’s not a big name like Coutts.
But for me, and I suppose there are a few people in similar shoes, all things banking is an interest, if not a hobby. And being able to hold an account branded by (even if through some back door meaning I just get RBS features with some embellishments on top) the world’s third oldest bank gives a warm and fuzzy feeling like when you get that rare stamp or that elusive coin into your collection. I wouldn’t care for RBS much if it wasn’t for Child & Co (although their app is growing on me), but being able to add the card to my collection has been great. Not to mention given the uncertainty the future holds for Child & Co, it’s not something I’d give up for £150. I can get £150 another day, but might not be able to get this account again.
Plus the sort code is the nicest I’ve seen/had to date
2 Likes
My fiancée and I have 3 Child & Co Reward accounts (1 sole each and a joint). We net £9/month between us.
(That’s not an advantage of a Child & Co account over any other RBS Reward account, but it is a good enough reason to continue holding it, regardless of the fancy debit card.)
1 Like
It was derailed a long time ago
What do you consider “a lot of work”?
It takes minutes to apply, and to set up the standing order, then you just wait twelve months and bag the profit 
I am in early retirement though, with bags of time to spare, so it’s easy money, for me.
I have exhausted the CASS incentives. None left for me now.
Yes, I suppose I should remember that for some, banking or things associated with it, is a hobby. My interest at the end of the day, is to have an easy life with as little effort involved in banking, that’s why this new FD savings account in my eyes, is such a bore because it’s not even that good and there’s an effort, albeit not an enormous drama, to set up.
I guess though, if you do shove the entire £3600 away for the year and you’re content with earning £1.31 a week in interest, it’s a winner.
1 Like
I’m applying for a mortgage with First direct presently and they’ve been incredibly slow.
They also sent product booklets for their current accounts & ISA’s alongside paperwork which required signing - when we put no postal marketing…was tempted to put it back in the prepaid envelope but chose not to cut off my nose to spite my face.
The application also couldn’t progress until we signed a customer signature record in the post…
TSB were far quicker. Due to a chain that expired but wishing I’d gone with a slightly higher rate!
1 Like
As has been mentioned already, having to endure old school banking practices just to open a savings account when you already hold a current account. I too am in a sort of early retirement, I work part time just to stop my arteries from shutting down, but FDs account opening procedures are just time wasting in my world 
2 Likes
Yes, I have to admit I was surprised when they didn’t open the account instantly!
That’s the same reason I wanted to open an account with them years ago. It is not about showing off, and much more about the private excitement that I’ve got an account at such a significant piece of banking history.
It’s not really a back door thing either (I suppose using the old form now is, but back when I applied I was open about selecting the sort code “normally” and I was still allowed an account) as they genuinely do have some personal and some private clients.
1 Like
It’s now over 24 hours since I applied first thing yesterday morning, and still absolutely nothing in the app. I know they did say three days, but I expected that:
- the timescale given was mostly them covering themselves
- it probably would be overnight during the week when we were talking about two weekdays
- even if they hadn’t completed the process, there might be some signs showing earlier (like the account, but with a zero balance, or the standing order being set up, or something). But nope!
It seems like they have very manual processes which people forgive them for because of their reputation for good service. I’ve also been reading up on what happens at maturity, at the MSE forums, and I was disappointed to hear that you have to expect a similar process in reverse at maturity time. First Direct don’t simply update the account name and interest rate overnight like every other bank - that would make too much sense. Apparently they close your Regular Saver manually, then move the money to a new “Savings Account” that they open for you, and all of this takes up to 5 days including potentially several days with your money in limbo and not showing on either the old Regular Saver or new Savings Account. Oh dear!
1 Like
And remember, should HSBC increase their RS to 3.5% and attract interest, their maturity process is the same as FD, i.e. not an instant availability of matured funds.
2 Likes