Can I have more than one current account??

loren83

I have a graduate account with HSBC but I'd like to open a joint account with my OH to bay bills rent etc and also I'd like somewhere to put my very little freelance money but don't want a business account yet because I'm not earning enough to justify it. Can I just open another current account in my name.

Secret_Wookie

Yes, just ask HSBC to open another one for you.

grumbler

You can have as many current accounts as you wish, and not only with the same bank ...

oldwiring

grumbler wrote:

You can have as many current accounts as you wish, and not only with the same bank ...

True, but not everyone can control more than one or two accounts, and then surprise when charges are levied.

TBH I wonder if the banks will revert to suspicion of mullti account holders.

mleonard79

I have three different current accounts with different banks in order to keep different things in different pots and it makes things easier for me but of course everyone is different. There is nothing to stop you doing this though. One of the other things to consider is if you've had a current account with a certain bank for a very long time then closing it could impact on your credit rating - it never does any harm to keep a long standing relationship with one bank going even if the bank is no longer competitive and you want a better deal. My first adult current account was with Barclays and I now maintain this account by putting a few transactions through it every month but have switched the bulk of my business to my a&l account.

Regards

Michelle

PBA

You can certainly have as many current accounts as you want, although as the HSBC grad account probably comes with an interest free overdraft it's probably got something in the T&Cs saying it has to be your main account.

If you want an account for freelance work, why not open a business account? There are business accounts that don't charge fees - Abbey offer one, not sure about others. It might make sense to get the facility set up now while your business is small, rather than have the hassle of setting it up later while trying to expand your business.

flossy_splodge

Don't forget banks that offer interest bearing accounts that are simple and do not require regular payments if you don't want to put spare dosh into a savings account. I have 4 current accounts, for very good reasons and my business account is with Abbey as it costs nothing but allows me to purchase business things in places like Makro which you need to prove you are a business to be able to buy there. Cahoot and Smile do good current accounts with no restrictions. I've got a cahoot one as it pays out more than smile and have never had a days problem with it unlike my Lloyds account! The really big high street names are not necessarily the best, in fact in my personal opinion are RARELY the best. Read through all the articles Martin has written on this site to get good guidance.:T

loren83

Thank you. I'm gonna stick with my HSBC one until I pay of my overdraft and look at fee free business ones.. I thought they all charged fees!

Cheers