Best donor account to open first?

pinkjune
pinkjune Posts: 37 Forumite
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in Budgeting & bank accounts
I am wanting to open a donor account so I can use it for switch incentives, which one is best to start with? I've previously held my main account with HSBC and M&S but in the process of changing to First Direct as of now. I was thinking of opening my donor one with Santander or Nationwide?
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  • badger09
    badger09 Posts: 11,205 Forumite
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    pinkjune wrote: »
    I am wanting to open a donor account so I can use it for switch incentives, which one is best to start with? I've previously held my main account with HSBC and M&S but in the process of changing to First Direct as of now. I was thinking of opening my donor one with Santander or Nationwide?

    It is sometimes quicker to open an additional account with your current provider as they should not need to ask you for additional ID/address documentation.

    Some have reported RBS as being an easy option, though I have no personal experience.

    Personally, I wouldn't use a new organisation for a donor account if I might want one of their accounts "for real' eg Nationwide Flexdirect for the 5% interest. But that again is my personal opinion.
  • fuzzgun19
    fuzzgun19 Posts: 7,767 Forumite
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    A friend is looking for a donor account, he is only with Nationwide at the moment and already has the max. current accounts with them.

    He was looking to switch to Natwest or halifax, but needs to open a donor.

    Can anyone suggest what to do,a bank that is quick and easy to open?
    I Hate Jobsworths!!!
  • colsten
    colsten Posts: 17,597 Forumite
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    fuzzgun19 wrote: »
    A friend is looking for a donor account, he is only with Nationwide at the moment and already has the max. current accounts with them.

    He was looking to switch to Natwest or halifax, but needs to open a donor.

    Can anyone suggest what to do,a bank that is quick and easy to open?
    Nationwide allows 4 current accounts. Whilst I am known as somewhat of a current account hoarder, I can't see the point of having more than a maximum of two Nationwide current accounts - a FlexAccount for the insurance benefits (if you are still entitled to it) and a FlexDirect for interest (again, if you are still entitled to it). One qualifying Nationwide current account is obviously required for those who want to benefit from the FlexClusive Regular Saver but it can be either of the above two.

    So I would say your friend, with Nationwide 4 current accounts, has already got two which can be used for switching straight away.
  • fuzzgun19
    fuzzgun19 Posts: 7,767 Forumite
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    colsten wrote: »
    Nationwide allows 4 current accounts. Whilst I am known as somewhat of a current account hoarder, I can't see the point of having more than a maximum of two Nationwide current accounts - a FlexAccount for the insurance benefits (if you are still entitled to it) and a FlexDirect for interest (again, if you are still entitled to it). One qualifying Nationwide current account is obviously required for those who want to benefit from the FlexClusive Regular Saver but it can be either of the above two.

    So I would say your friend, with Nationwide 4 current accounts, has already got two which can be used for switching straight away.
    He uses then as 'pots' to save for various things he wants to keep separate.
    He has 2 Flexaccounts, 1 Flexdirect, and one other is a joint account with his wife, does the joint count as the fourth?
    I Hate Jobsworths!!!
  • 18cc
    18cc Posts: 2,120 Forumite
    TSB has a super-quick online account opening procedure they give you the account no and sort code there and then.
  • fuzzgun19
    fuzzgun19 Posts: 7,767 Forumite
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    18cc wrote: »
    TSB has a super-quick online account opening procedure they give you the account no and sort code there and then.
    Many thanks for that :)
    I Hate Jobsworths!!!
  • cardi_b
    cardi_b Posts: 16 Forumite
    Barclays and Santander have never offered switching bonuses, so they will be an easy grab.
  • eskbanker
    eskbanker Posts: 30,995 Forumite
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    cardi_b wrote: »
    Barclays and Santander have never offered switching bonuses, so they will be an easy grab.
    I don't get your logic, why should their past lack of switching bonuses correlate in any way to ease of opening an account now?
  • Katiehound
    Katiehound Posts: 7,552 Forumite
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    eskbanker wrote: »
    I don't get your logic, why should their past lack of switching bonuses correlate in any way to ease of opening an account now?
    Perhaps because OP might want to switch to TSB in the future to get a welcome bonus?
    Being polite and pleasant doesn't cost anything! --
    Many thanks
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  • ValiantSon
    ValiantSon Posts: 2,586 Forumite
    cardi_b wrote: »
    Barclays and Santander have never offered switching bonuses, so they will be an easy grab.
    eskbanker wrote: »
    I don't get your logic, why should their past lack of switching bonuses correlate in any way to ease of opening an account now?

    Their prior lack of switching bonuses obviously has nothing to do with how easy and quick they are at opening accounts.

    Barclays will open an account immediately, if accepted, and give you access to your online account straight away (with sort code and account number). The application progress is very quick.
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