Closing accounts

rictus123

This is fantastic.

rictus123

Bumped to get a reply

flyingscotno1

rictus123 wrote: »

I have just applied for the abbey current account that pays 6% on balances under £2500 if £1000 is paid in every month. So il make the pay in then move the money into a savings account so i never go over £2500 but then i dont go under £2499 unless its just for a day when i get paid the next day so i dont lose intrest if you know what i mean? Dont know if thats clear?

I have a current account with RBS(4 figure sum in) and an ISA(£50 in) and a Credit Card(never been registared or used and dont think il bother)

Question is how do i go about closing these accounts am i able to do it through online banking? Do i have to close an Isa to open another or just transfer it?

Don't close bank accounts. If you've kept them well they are good for credit rating, and there is no real need to close a free bank account.

Closing an ISA normally is a bad idea as you lose benefits- but with only £50 in an ISA it doesn't really matter- but good practise to transfer.

td_007

rictus123 wrote: »

I have just applied for the abbey current account that pays 6% on balances under £2500 if £1000 is paid in every month. So il make the pay in then move the money into a savings account so i never go over £2500 but then i dont go under £2499 unless its just for a day when i get paid the next day so i dont lose intrest if you know what i mean? Dont know if thats clear?

Good move....while you are at it A&L also offer a similar account and go via a cashback site to maximise.

rictus123 wrote: »

I have a current account with RBS(4 figure sum in) and an ISA(£50 in) and a Credit Card(never been registared or used and dont think il bother)

It is useful to have a couple of current a/cs and linked savings a/c just in case you are unable to access you main a/c for whatever reason. I suggest holding on to your a/cs and not close them.

rictus123 wrote: »

Question is how do i go about closing these accounts am i able to do it through online banking? Do i have to close an Isa to open another or just transfer it?

Never close an ISA a/c as you will lose the tax free benefit on the amount in the a/c. If you plan on continuing with the ISA then ask for it to be transferred to new the bank. Read the ISA section on this site to get some in-depth advice.