Bank Account Tarting

hacksawcats · 26 June 2017 at 4:52PM

Does anyone know how long you have to be with a bank before you can switch, or is it down to each individual banks T&C's?

And if anyone's got any advice on which bank(s) current account to open first? Thanks in advance.

eskbanker · 26 June 2017 at 5:28PM

You need to check individual Ts & Cs but generally you're free to switch again as soon as you've received any incentive.

Usual advice is to open a sacrificial donor account with your existing bank to kick the process off, assuming you're looking to take advantage of tarting (as you put it) without actually changing your 'main' account. Pick the most tempting offer from http://www.moneysavingexpert.com/banking/compare-best-bank-accounts#bonus, check that you have all prerequisities in place (e.g. direct debits) and off you go!

Don80 · 27 June 2017 at 10:21AM

eskbanker wrote: »

Usual advice is to open a sacrificial donor account with your existing bank to kick the process off, assuming you're looking to take advantage of tarting (as you put it) without actually changing your 'main' account.

I agree - with all this "tarting" it's tempting to take advantage of these offers. What some seem to forget is that your credit file also needs to show stability, so having a long term banking relationship is a very good thing. I closed an RBS account I had since I was 19 but have had a TSB account for 6 years, and now a new Bank of Scotland account. I wouldn't close the TSB one now until I have had a longer relationship with the Bank of Scotland.

Samsung_Note2 · 27 June 2017 at 5:41PM

Ive few basic accounts..used a tsb to open M&S and now using that to open Halifax.

Bank Account Tarting

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