Switching Bank Current accounts to get Cash rewards

[fastliving]

Was wondering if anyone does this regularly to gain the cash rewards?
I saw Martin Lewis advise someone to do it on his programme last week.
Sound tempting as I have a 'house' account where my mortgage and household bills come from and I put most of my salary into.
I was thinking o could switch every year or so .... would pay for a few treats ... but is it that simple?
Anyone else do this?
I would worry that it would cock
Up and my mortgage wouldn't get paid!

I'm wondering too - there are some great deals. But I'll be remortgaging in the next few months & am not sure how that would impact on the credit checks.

Very tempting though.... some of them are giving £150+.

I've done it a few times, not just for the incentive, but to access other benefits like regular savings accounts that pay slightly more interest.

It's not hassle free as sometimes you have to visit a branch to clarify your ID, but I've never had bills not get paid - the actual switching over of everything has always been pretty seamless and I think they guarantee that if a mistake is made they put it right and your credit rating/payments record isn't affected.

It might help if you have another account you can use for day to day spending or can use a credit card so you don't have to worry about which debit card to use, or what money you have where, but I do that anyway and find it much easier to do all my day to day spending on a credit card that's paid off each month, so it's just treated like any other bill, and leave my current account untouched so just have to check once a month that there's enough money in my current account to pay all the upcoming bills, including last month's credit card bill, and otherwise the account isn't touched day to day.

I live in a fairly big town Barbara so can fairly easily show ID to most banks.
I also have a 'main' current account which I wouldn't switch as I would lose all my one off payment details to window cleaner/dog sitter etc.
I would just switch my second account which if the process is as simple as you say then shouldn't be too much hassle for the cash reward.
Make I'm looking to remortgage in a month, so will probably wait til after then too.

They don't clamp down on you doing it too often @BarbaraofSeville ?

The hsbc offer ends at midnight tonight, they are offering £175 for switching and the account seems ok + no fee. You have to pay so much in every month - £1,750 I think.

I'm doing it as a one off, I wouldn't plan to keep doing it. I wouldn't want the inconvenience + possibility of affecting credit rating.