Santander T&C limits on number of accounts?

cash-magnet

Does anyone have the information or inside knowledge on how many current accounts at either Alliance&Leicester or Abbey you may hold open at once?

Unlike the Halifax/BoS Reward accounts we all love which clearly state a maximum of 3 of each may be held in their T&C's, I cannot find any limits for these Santander owned banks.

None would require any credit facilities/overdrafts so credit searches shouldn't be an issue applying for them.

I would like to lock-in/lend them a few more £2500 chunks of my cash at their 5% offer on current accounts if possible.

Thank you.

pcyam

as many as u like

Mikeyorks

Abbey only pay the 5% up to £1000. You need to use their switching service (difficult with multiple accounts?) to raise the bar to £2500.

withnell

I think someone at Abbey told me that it's a max of 3 current accounts with them

cash-magnet

Mikeyorks wrote: »

Abbey only pay the 5% up to £1000. You need to use their switching service (difficult with multiple accounts?) to raise the bar to £2500.

I agree with you that this is what the T&C's say but after phoning them to double check, they confirm I am getting the 5% up to their £2500 limit and all I did was open the account up as a 2nd account, without using their switching service. I have an old account knocking about, so I may just bounce back and forth a few times with this and a new abbey account each time. At least that will space out these accounts so their 12 month aniversary dates don't all end at the same time. I'm sure I can set up a payment on it that they will then be able to "switch over" for me.

I still cannot find a limit on the number of accounts, so in theory it could be quite a few. I'm sure they can't really have a problem with someone wanting to leave their money in an account for them to be able to use. They should be grateful they can borrow money at just 5% in this credit crunch.