Can you have more than one current account?

EmK_2

My partner is a bit concerned - he's applied for an A&L current account online and was asked for his existing bank details. He doesn't want to switch - our plan is to make the account a joint one once we've both received the £50 for me referring him. I checked with A&L and you are allowed to do this after 6-8 weeks of the account being opened. But he is worried that perhaps you can't have two current accounts, even if you pay in £500/month as A&L stipulate. Does anyone has any advice on this?

Tit for tat - the Alliance & Leicester £50 refer a friend deal is reduced to £25 as of 1st April!

mr_fishbulb

I've got 4 at the moment:
Alliance and Leicester for my current account - 5% interest
Nationwide flex account for when I go on holiday - no cash machine fees
A smile account (which I am about to close) - for the free wine
And an HSBC account becuase I have had it since I was a student and don't know if I should close it or not.

Only pay a regular amount into A&L. Smile is the only one to have complained, but since I'm closing that one they can naff off.

oldagetraveller

Only 3 at the moment!
Smile for day to day use, but in the process of transferring to Cahoot.
HSBC not used for years with a 1p balance. Transfer £1 in and out every month which means they send me a regular statement
Barclays for the £100 with a £2.03 balance. Will be closed when I receive the "bonus."
So the fact that I already had 2 accounts didn't seem to affect the Barclay's application. Maybe it depends on how desperate they are for another customer though?

roma

I had plans to do the same thing,i.e. open a A&L account but just transfer the £500 monthly deposit required over from my LLOYDS TSB current account but as you was put off when they asked for your current banking details. I dont want to transer either - just wanted to have an additional current account. Would be interested to know what happens with your situation!?

Anoushka_2

I have several TSB accounts and I opened 2 A&L account last summer (just to get the £50) I did change to A&L and got my salary paid in there but after using their internet banking for a couple of weeks I decided to go back to TSB (I had not closed my accounts there off course). I then downgraded my A&L accounts so as not to have to pay the minimum (or I think you get penalties) but I do not use A&L anymore. My account is still open there though (I will probably close it though).
So my advice is do it for the £50 incentive but don't use the account.

joolsay

"I opened 2 A&L account last summer (just to get the £50)"

Can I ask how you managed to have 2 accounts with the same bank?

Thanks,

Joolsay.

mroller

Anoushka wrote:

I have several TSB accounts and I opened 2 A&L account last summer (just to get the £50) I did change to A&L and got my salary paid in there but after using their internet banking for a couple of weeks I decided to go back to TSB (I had not closed my accounts there off course). I then downgraded my A&L accounts so as not to have to pay the minimum (or I think you get penalties) but I do not use A&L anymore. My account is still open there though (I will probably close it though).
So my advice is do it for the £50 incentive but don't use the account.

Any reason why we shouldn't use the AL account? what's wrong with it?
I was thinking about opening one.

Thanks.

Dr.Lou

I dont think there is anything wrong with having more than one current account. Up until recently I had four, but shut two of them down (Barclays and HSBC), which we had for years since being students.

Now we have a joint account with Nationwide for bills and another joint account with A+L for just day to day stuff. Have to say don't have a problem with either.

Afahmaep

joolsay wrote:

"I opened 2 A&L account last summer (just to get the £50)"

Can I ask how you managed to have 2 accounts with the same bank?

Thanks,

Joolsay.

I have also got 2 A&L Current Accounts. I applied to upgrade to their Premier Current Account but a separate ordinary current account was opened instead back in 2004. At the time I was a bit miffed but the linked internet saver was 5.35% Gross(4.28% Nett) with a max of £25000 per account so this would have given me double that i.e £50,000 if I had that much cash.
When A&L dropped the rate I still kept both accounts open with one to be used as the 'sacrificial lamb' should another Bank offer a good deal insisting on swopping DDs etc on application.
This scenario happened in Dec 2005 when I opened the Norwich & Peterborough BS current with linked 8.00% saver PLUS free £500 overdraft for a year. Well worth keeping open as it turned out.
BTW I've still got both A&L accounts open. As the 'dormant' Bank card is still valid until 2007

dreamylittledream

They want your current bank details as part of the credit score.

Nothing to do with switching.

You can have as many current accounts as you want...however if you have lots on your credit file a bank may realise that you don't neccesarily want anything other then their free offer of the month.

Paul_Herring

dreamylittledream wrote:

You can have as many current accounts as you want...however if you have lots on your credit file a bank may realise that you don't neccesarily want anything other then their free offer of the month

I don't have them at hand to check, but I'm sure none of my current accounts are present on either my last Experian or Equifax reports.