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  • FIRST POST
    • KieranMac
    • By KieranMac 29th Nov 17, 9:30 PM
    • 4Posts
    • 0Thanks
    KieranMac
    Can I switch an old. unused bank account?
    • #1
    • 29th Nov 17, 9:30 PM
    Can I switch an old. unused bank account? 29th Nov 17 at 9:30 PM
    Hey,

    I have a Student Bank Account with Halifax, which has £50 in but has not been used for more than 3 years. It was my current account, but I set up an account with Santander and just left the old account open.

    Can I use this old Halifax account to switch to one of the banks offering £100?

    Cheers
Page 1
    • BoGoF
    • By BoGoF 29th Nov 17, 9:47 PM
    • 2,740 Posts
    • 1,973 Thanks
    BoGoF
    • #2
    • 29th Nov 17, 9:47 PM
    • #2
    • 29th Nov 17, 9:47 PM
    You could but will need check and see if new bank needs active direct debits as part of switch and most have minimum monthly pay ins.
    • radoslaff
    • By radoslaff 30th Nov 17, 8:51 AM
    • 50 Posts
    • 13 Thanks
    radoslaff
    • #3
    • 30th Nov 17, 8:51 AM
    • #3
    • 30th Nov 17, 8:51 AM
    You can easily switch to FD or M&S as they don't require DDs. I would go for FD (via MSE link of course) because with them you are not restricted where to spend the incentive.
    • Katiehound
    • By Katiehound 30th Nov 17, 1:03 PM
    • 3,909 Posts
    • 38,016 Thanks
    Katiehound
    • #4
    • 30th Nov 17, 1:03 PM
    • #4
    • 30th Nov 17, 1:03 PM
    I think that both of those - M&S and FD will require £1k pay in per month. It is a good idea to 'groom' the account ready for switching by doing a trial pay in and pay out especially if you are setting up SOs.
    I am assuming you won't want to leave £1k resting there!!

    If you want to earn some interest there are several other accounts but they all require x 2 DDs per month.
    Being polite and pleasant doesn't cost anything!

    If you found my posting helpful please hit the "Thanks" button!
    Thank You
    • Kim_13
    • By Kim_13 30th Nov 17, 1:44 PM
    • 1,472 Posts
    • 1,755 Thanks
    Kim_13
    • #5
    • 30th Nov 17, 1:44 PM
    • #5
    • 30th Nov 17, 1:44 PM
    This article outlines the top accounts available and the requirements to obtain the various incentives: https://www.moneysavingexpert.com/banking/compare-best-bank-accounts#bonus
    Sealed Pot 11 #520 ~ /£100
    VSP 2017 #9 ~ £108.83/£250.00
    CCCC 2017 #1 ~ £220.95/£120.00

    I'm a Board Guide on the Savings and Investments , Budgeting and Bank Accounts , Credit Cards and Marriage, Relationships and Families boards which means I volunteer to help get your forum questions answered and keep the forum running smoothly. Please remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this.) Any views are mine and not the official line of MoneySavingExpert.com
    • About-time
    • By About-time 1st Dec 17, 8:48 AM
    • 43 Posts
    • 46 Thanks
    About-time
    • #6
    • 1st Dec 17, 8:48 AM
    • #6
    • 1st Dec 17, 8:48 AM
    I've just done exactly this to get the £250 from Yorkshire bank.


    Halifax account, opened twenty years ago as I worked for them and it was a condition of my employment that my wages were paid into a Halifax account. Untouched since the mid-00s, I didn't even have a current debit card for it. But the switch seems to have gone through fine. So I would say yes, based on my experience, as long as you fulfil all the pay-in, DD requirements etc
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