Opening mulit saving account

Yoman

I am keen on opening those free £100 account.

However, I understand that there is a few bank offering them. Can I open the A&L first, transfer my money into there monthly, then open first direct account, and transfer my money from A&L to first direct monthly, then open the Halflex, and transfer the money from first direct with the same money.

Finally, transfer the Halflex money into a regralar saving account to earn the best intrest?

Can I do that?

anselld

Yoman wrote: »

I am keen on opening those free £100 account.

However, I understand that there is a few bank offering them. Can I open the A&L first, transfer my money into there monthly, then open first direct account, and transfer my money from A&L to first direct monthly, then open the Halflex, and transfer the money from first direct with the same money.

Finally, transfer the Halflex money into a regralar saving account to earn the best intrest?

Can I do that?

Theoretically yes, but
(a) it might impact your credit rating - every one will have a search recorded
(b) the terms generally require several months payments
(c) do you really want to keep moving your DD and Salaries around?
(d) is it worth all the paperwork?

Finally, get yourself the free case of wine from Smile too. It will relieve the stress of completing all those other applications. :rotfl:

Yoman

Well because I have my own busuness, Hence I can move around the money as much as I wanted. not really mind about the paper work as it is more of my evil pay back to the banking, the money is just bonus to offset the low intrest rate they give to the saver.

I assumed I only need to spend 1 hour to 2 hours in opening and closing accont, that must worth the £100 for a couple hours of work.

However, the impact on the credit ratings is my main consern. How bad do they effect the rating?