To keep switching banks to make money

[dottypotter]

Could you be bothered I couldn't!!
Martin Lewis was saying tonight about serial bank switchers who make money by keep switching banks!!!

With the Nationwide switch they say you have to close the old account, you tick for it on the form when you do the switch and I can confirm they definitely closed my old account. I had two current accounts so it was an old account that I switched.

This thread prompted me to check if there were any I hadn't done, so I've just done an HSBC one, £200 winging its way to me. Will get the bf to do it too, and that's our weekend in Edinburgh next year paid for!

Just close it and wait the X number of years. It's usually 18m or two years, so it's just a cycle.

I keep five bank accounts open, plus my business account.

One for my normal stuff, one for household (Santander because of the cashback on bill payments, plus I'm lucky I don't pay the fee), then two disposable ones (currently TSB and First Direct) which are sacrificed for deals.
Then Monzo because it's really good abroad.

I've just binned FD for HSBC. I have TSB available to sacrifice if another deal comes up.

by the time you've cycled through all the different banks though (particularly if you just have one bank account you use for the switching deals) it will have been a few years.