Switching?

stormin_norman

Hi,
I'm currently thinking of switching bank accounts. I'm currently with the Halifax and have an Ultimate Reward account and pay £7.50 a month for the benefits (after the £5 reward) and been with them for over 8 years with no troubles. However i'm thinking of switching to the Co-Op or smile for their Privilege accounts and get the same benefits free for a year.

So my dilemma! Shall i switch for a year to save the £7.50 a month (£90 year) and then switch back to the Halifax or just stay put? I always thought it was best to stay with your bank and build a good relationship with them, but dont know if that's correct these days!

Any advice greatly appreciated!

YorkshireBoy

Just downgrade the Halifax account to a standard 'Reward' variant, and keep it ticking over (by cycling £1K through it each month for your free fiver ).

platterfish

I've just switched from the Halifax for the same reason, transferring my DD's but keeping my wage going into the Halifax account (for the free fiver) and then immediately transferring it to the co-op account for the free benefits!

You have nothing to loose by doing this - even if it's just for a year.

stormin_norman

Thanks for your reply platterfish! How have you found them since opening? Not too sure wether to go to the The Co-Op or smile and get a tad bit of interest as well as the benefits!

platterfish

Everythings gone well so far, they have answered the phone quickly, online banking all set up, card and welcome details all arrived. There online banking is quite simple, which I think is good as it does everything you need it to!