Changing Bank Bonus

[iamcarley]

Hello,

I've been looking into changing bank accounts and have noticed a lot of banks offer a bonus for joining them, e.g. with Halifax you get £125, with M&S you get £100 vouchers... My question is, is it "allowed" to keep switching bank accounts to get all of these bonuses? Is there any negatives to doing this? Has anyone done this and can offer any advice?

Thanks!

[grasscarp]

You could keep getting them switching all the time but why put yourself through the hassle! I am quite happy with Halifax and they pay me a fiver each month to have a current account with them.

[grasscarp]

aimcarley, I have to add something to what I just said. The bank you want to switch may not let you under certain conditions. I just looked up Halifax and it says:
Use the Current Account Switch Service to transfer and close your old account held elsewhere. If you’ve had cashback for switching since January 2012, we’re sorry but you don’t qualify.