Should I close one of my current account?

Material_Girl_2

I have three current accounts but don't really need all of them anymore.

I have one full current account for my direct debits, standing orders etc. with an overdraft facililty, which I am not using. I never use this account for spending in shops or the online, it's just for transferring money and usually I run it down to zero. I will definitely keep this account as my main account.

Then I have a current account that I use for general spending (basic no overdraft available) and I'd like to keep this account as well.

The third account is a Halifax Easycash, which I now just use for food shopping again this account offers no overdraft, which is fine.

I am planning on just using the first two accounts in future and not using the Halifax account anymore, for no other reason than that I think two accounts should be enough for me now.

Now, my question is should I keep the Halifax account open for emergencies since it's already open and if I ever needed a third account again then I wouldn't have to reapply.

However, if I do decide to keep it open, would Halifax be ok with no money being transferred into account? I could leave a minium balance of £5 on it, but is it worht it, keeping in mind that it's still an account that I'd need to check regularly for fraudulent transaction etc?

Should I not worry and just close it anyway as I do have the two other accounts and a credit card for emergencies and online transactions?

Any opinions?

poorgirl-54

I have many current accounts that i don't use, but sometimes i need they come in handy and i do use them.

My opinion, just leave it open with a balance of 0.01.

Material_Girl_2

Thank you, I might just do that, but do you think it's likely Halifax will just close the account if I don't use it? I guess, I could just leave it and if they do close it, so be it.

samjef11_2

Material_Girl wrote: »

Thank you, I might just do that, but do you think it's likely Halifax will just close the account if I don't use it? I guess, I could just leave it and if they do close it, so be it.

Hi to be on the safe side just credit the account 1.00 every 4 month so then halifax wlll see the account is still active.

Material_Girl_2

Thanks I will do that. I guess I could set up a standing order for £1 going back and forth montly between my accounts. And then check it monthly to make sure all is ok with the account.

samjef11_2

Material_Girl wrote: »

Thanks I will do that. I guess I could set up a standing order for £1 going back and forth montly between my accounts. And then check it monthly to make sure all is ok with the account.

Yes if you can transfer a pound to and from another accounts that would be ideal but if they only let you transfer the mim of £5 so be it.

Andystriker

Change the Halifax account into a Reward Current Account. (Make sure its a basic reward current account - not the ultimate where you have to pay a monthly fee).

Then every month pay £1,000 through the account. This does not have to be in one go (you can pay £500 through twice or even £100 x 10 times). The money does not have to stay in the account.

Then every month Halifax will pay you £5. After a year this is £60 so it is worth doing.

noh

Andystriker wrote: »

Change the Halifax account into a Reward Current Account. (Make sure its a basic reward current account - not the ultimate where you have to pay a monthly fee).

Then every month pay £1,000 through the account. This does not have to be in one go (you can pay £500 through twice or even £100 x 10 times). The money does not have to stay in the account.

Then every month Halifax will pay you £5. After a year this is £60 so it is worth doing.

The Easycash account can't simply be changed to the Reward account. You would have to make a new application.
The reason being is that the Easycash account is a basic account requiring no credit check. The Reward account needs a credit check and will show on your credit reports.