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  • FIRST POST
    • pinkjune
    • By pinkjune 1st Oct 17, 2:17 PM
    • 6Posts
    • 0Thanks
    pinkjune
    Best donor account to open first?
    • #1
    • 1st Oct 17, 2:17 PM
    Best donor account to open first? 1st Oct 17 at 2:17 PM
    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?
Page 1
    • badger09
    • By badger09 1st Oct 17, 3:37 PM
    • 5,760 Posts
    • 5,227 Thanks
    badger09
    • #2
    • 1st Oct 17, 3:37 PM
    • #2
    • 1st Oct 17, 3:37 PM
    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?
    Originally posted by pinkjune
    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
    • By fuzzgun19 8th Feb 18, 11:10 AM
    • 6,976 Posts
    • 57,746 Thanks
    fuzzgun19
    • #3
    • 8th Feb 18, 11:10 AM
    • #3
    • 8th Feb 18, 11:10 AM
    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
    • By colsten 8th Feb 18, 11:48 AM
    • 8,801 Posts
    • 7,631 Thanks
    colsten
    • #4
    • 8th Feb 18, 11:48 AM
    • #4
    • 8th Feb 18, 11:48 AM
    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?
    Originally posted by fuzzgun19
    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
    • By fuzzgun19 8th Feb 18, 12:09 PM
    • 6,976 Posts
    • 57,746 Thanks
    fuzzgun19
    • #5
    • 8th Feb 18, 12:09 PM
    • #5
    • 8th Feb 18, 12:09 PM
    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.
    Originally posted by colsten
    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
    • By 18cc 8th Feb 18, 12:41 PM
    • 227 Posts
    • 137 Thanks
    18cc
    • #6
    • 8th Feb 18, 12:41 PM
    • #6
    • 8th Feb 18, 12:41 PM
    TSB has a super-quick online account opening procedure they give you the account no and sort code there and then.
    • fuzzgun19
    • By fuzzgun19 8th Feb 18, 12:53 PM
    • 6,976 Posts
    • 57,746 Thanks
    fuzzgun19
    • #7
    • 8th Feb 18, 12:53 PM
    • #7
    • 8th Feb 18, 12:53 PM
    TSB has a super-quick online account opening procedure they give you the account no and sort code there and then.
    Originally posted by 18cc
    Many thanks for that
    I Hate Jobsworths!!!
    • cardi_b
    • By cardi_b 8th Feb 18, 6:42 PM
    • 13 Posts
    • 3 Thanks
    cardi_b
    • #8
    • 8th Feb 18, 6:42 PM
    • #8
    • 8th Feb 18, 6:42 PM
    Barclays and Santander have never offered switching bonuses, so they will be an easy grab.
    • eskbanker
    • By eskbanker 8th Feb 18, 7:34 PM
    • 6,234 Posts
    • 6,330 Thanks
    eskbanker
    • #9
    • 8th Feb 18, 7:34 PM
    • #9
    • 8th Feb 18, 7:34 PM
    Barclays and Santander have never offered switching bonuses, so they will be an easy grab.
    Originally posted by cardi_b
    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
    • By Katiehound 8th Feb 18, 8:37 PM
    • 4,261 Posts
    • 38,582 Thanks
    Katiehound
    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?
    Originally posted by eskbanker
    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!
    If you found my posting helpful please hit the "Thanks" button!
    Many thanks

    2018 Wombling : Entrant 8 ...840MM (84p) + RK 7p= 91pence
    • ValiantSon
    • By ValiantSon 8th Feb 18, 8:39 PM
    • 675 Posts
    • 555 Thanks
    ValiantSon
    Barclays and Santander have never offered switching bonuses, so they will be an easy grab.
    Originally posted by cardi_b
    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?
    Originally posted by eskbanker
    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.
    • colsten
    • By colsten 8th Feb 18, 10:42 PM
    • 8,801 Posts
    • 7,631 Thanks
    colsten
    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?
    Originally posted by fuzzgun19
    I maintain there is no reason for having more than max 2 Nationwide current accounts, even for "potters". Aside from missing out on benefits such as interest or a switching bonus, it's a good idea anyway to spread your money across more than one financial institution.
    • bioboybill
    • By bioboybill 9th Feb 18, 9:52 AM
    • 2,967 Posts
    • 1,336 Thanks
    bioboybill
    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.
    Originally posted by ValiantSon
    You're not kidding. I opened one just after 6 this morning. ID checked online and account open with sort code and account number in 5 minutes. Totally different to Nat West!
    • badger09
    • By badger09 9th Feb 18, 10:58 AM
    • 5,760 Posts
    • 5,227 Thanks
    badger09
    You're not kidding. I opened one just after 6 this morning. ID checked online and account open with sort code and account number in 5 minutes. Totally different to Nat West!
    Originally posted by bioboybill
    Hmmmm

    However, Barclays are not offering £125
    • fuzzgun19
    • By fuzzgun19 9th Feb 18, 11:45 AM
    • 6,976 Posts
    • 57,746 Thanks
    fuzzgun19
    I maintain there is no reason for having more than max 2 Nationwide current accounts, even for "potters". Aside from missing out on benefits such as interest or a switching bonus, it's a good idea anyway to spread your money across more than one financial institution.
    Originally posted by colsten
    In your opinion.....
    I Hate Jobsworths!!!
    • bioboybill
    • By bioboybill 9th Feb 18, 12:29 PM
    • 2,967 Posts
    • 1,336 Thanks
    bioboybill
    Hmmmm

    However, Barclays are not offering £125
    Originally posted by badger09
    I know, but I can switch to Halifax from Barclays now. :-)
    • brotherbarry
    • By brotherbarry 9th Feb 18, 1:34 PM
    • 15 Posts
    • 3 Thanks
    brotherbarry
    I do NOT recommend opening up with Santander.

    Painfully slow.... Once I received my debit card, I had to separately request details for online banking... I finally got that set up last night, switched direct debits for M&S account switch + transferred money in.

    I then refreshed the online page to check the balances had all been updated... and i've helpfully been locked out of my Santander account.
    • ValiantSon
    • By ValiantSon 9th Feb 18, 3:54 PM
    • 675 Posts
    • 555 Thanks
    ValiantSon
    Hmmmm

    However, Barclays are not offering £125
    Originally posted by badger09
    Very true, but the account opening process is not made cumbersome and disorganised by the presence of a switching bonus!
    • ValiantSon
    • By ValiantSon 9th Feb 18, 3:57 PM
    • 675 Posts
    • 555 Thanks
    ValiantSon
    I do NOT recommend opening up with Santander.

    Painfully slow.... Once I received my debit card, I had to separately request details for online banking... I finally got that set up last night, switched direct debits for M&S account switch + transferred money in.

    I then refreshed the online page to check the balances had all been updated... and i've helpfully been locked out of my Santander account.
    Originally posted by brotherbarry
    I don't remember it being especially difficult when I opened a 123 account some years ago, but it wasn't as swift as Barclays. Get instant opening with Santander now because I am already a customer.
    • tempus_fugit
    • By tempus_fugit 9th Feb 18, 4:07 PM
    • 389 Posts
    • 351 Thanks
    tempus_fugit
    I do NOT recommend opening up with Santander.

    Painfully slow.... Once I received my debit card, I had to separately request details for online banking... I finally got that set up last night, switched direct debits for M&S account switch + transferred money in.

    I then refreshed the online page to check the balances had all been updated... and i've helpfully been locked out of my Santander account.
    Originally posted by brotherbarry
    I've never had any problems with Santander, they're probably one of the easiest banks to deal with in my experience.
    Retired at age 56 after having "light bulb moment" due to reading MSE and its forums. Have been converted to the "budget to zero" concept and use YNAB for all monthly budgeting and long term goals.
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