Multiple Accounts At Same Bank.

benoit

Following on from the thread about the upside of multiple accounts, i am curious to see that some people have more than one of the same account at the same bank eg 3 flex accounts at Nationwide.

This has got me thinking, how many of the same accounts do different banks allow? Can you have more than one step account at Natwest or more than one Key account at RBS?

Just curious really as i wasn't aware you could have multiples of the same account at the same institution.

jambosans

benoit wrote: »

Just curious really as i wasn't aware you could have multiples of the same account at the same institution.

It depends on the account really. Accounts like the Halifax Reward Current Account are limited to one sole, and one joint, mainly because people would exploit the monthly £5 Reward (when funding £1k). So accounts with costly customer benefits may be restricted. However packaged and bog-standard current accounts, I assume (subject to status) you can have as many as you like.

cottager

Don't know about the Step, but at Natwest you can have more than one Current Plus a/c, not that there's much advantage in doing so apart from possible convenience for oneself, as although it does pay a few pence interest it's hardly megabucks! Also more than one of their eSavings accounts can be held.

ani_ka0

Hello,

I wonder if you would be kind enough to point me in the direction of the original discussion? I am unable to locate it, many thanks.

diable

I have two current accounts with First Direct and it did seem odd to them that I wanted another one until I explained that I needed a current account with no cheque book, no debit card and no overdraft so that I could pay all my Mums DD for running her house through it.

D1zzy

I have 8 with LTSB

benoit

[STRIKE][/STRIKE]

D1zzy wrote: »

I have 8 with LTSB

What kind are they? All Current?

benoit

ani_ka0 wrote: »

Hello,

I wonder if you would be kind enough to point me in the direction of the original discussion? I am unable to locate it, many thanks.

http://forums.moneysavingexpert.com/showthread.html?t=2296351

D1zzy

benoit wrote: »

What kind are they? All Current?

Yes - all current
1 that is actually used, the others "Vantage" (from the days when u could have > 3) - just used as savings accounts

7sefton

jambosans wrote: »

It depends on the account really. Accounts like the Halifax Reward Current Account are limited to one sole, and one joint, mainly because people would exploit the monthly £5 Reward (when funding £1k). So accounts with costly customer benefits may be restricted. However packaged and bog-standard current accounts, I assume (subject to status) you can have as many as you like.

But I have 3 Halifax Reward accounts (exactly for the reason you outlined lol)?!

jambosans

7sefton wrote: »

But I have 3 Halifax Reward accounts (exactly for the reason you outlined lol)?!

Pre-01/11/09 you could have up to three Reward Current Accounts. The T&C's have been amended to only allow for one sole, and one joint Reward Current Account. Halifax have not taken steps to close or downgrade those with accounts now in breach of the T&C's.