How many bank accounts is too many?

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
8 replies 1.9K views
tbournertbourner Forumite
1.4K Posts
edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
We currently have a platinum Lloyds single account, a Natwest single account, a Barclays joint account, a Natwest joint account and an ING savings account.

We were thinking about opening another account somewhere, but does it badly affect credit if you keep having different accounts? Would we even get another account?

If the answers to the above are favourable; what's a good basic account with no overdraft but with a debit card? Or do all debit card accounts require a minimum throughput or something? We'd only be putting in around £150 a month.
Trev. Having an out-of-money experience!
C'MON! Let's get this debt sorted!!

Replies

  • mayling03mayling03 Forumite
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    I think you can divide your accounts up in the following CURRENT, SAVINGS, CREDIT CARDS. I think savings don't matter as people are spreading their money about but the current accounts I would say need to be used regularly othewise no point of having them open. Your situation seems fair to me and you would be fine with another account. You can go for Cooperative's CASHMINDER, this is a basic account with debit card, no overdraft facilities, and no minimum deposit. Beware you CAN go over so be careful. Just because account does not have an overdraft doesn't mean you cannot go overdrawn.
  • tbournertbourner Forumite
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    mayling03 wrote: »
    I think you can divide your accounts up in the following CURRENT, SAVINGS, CREDIT CARDS. I think savings don't matter as people are spreading their money about but the current accounts I would say need to be used regularly othewise no point of having them open. Your situation seems fair to me and you would be fine with another account. You can go for Cooperative's CASHMINDER, this is a basic account with debit card, no overdraft facilities, and no minimum deposit. Beware you CAN go over so be careful. Just because account does not have an overdraft doesn't mean you cannot go overdrawn.

    We don't have savings, we use the savings account for presents throughout the year, save £30 a month to cover all birthdays and Christmas. :D
    The lack of overdraft is so I'm not tempted to borrow from the account, we'll set up SOs into the account for car repairs and tax and the like, rather than not really knowing how much I can spend on the MOT for example.
    Trev. Having an out-of-money experience!
    C'MON! Let's get this debt sorted!!
  • book12book12 Forumite
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    Barclays basic bank account is good. Better than the Co-op one.
  • mayling03mayling03 Forumite
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    book12 wrote: »
    Barclays basic bank account is good. Better than the Co-op one.

    Can you explain why Barclays is better?
  • tbournertbourner Forumite
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    We've been really disappointed with Barclays since we had the joint account with them, won't be using them for another account.
    Trev. Having an out-of-money experience!
    C'MON! Let's get this debt sorted!!
  • izoolsizools Forumite
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    book12 wrote: »
    Barclays basic bank account is good. Better than the Co-op one.

    I beg to differ.

    Having held both accounts I would consider returning to Co-Op.

    It will be a cold day in hell before I even think about walking back into a branch of Barclays for any reason other than to wreck up the place Nixon style.

    Co-Op have a British call centre, very helpful, knowledgeable, correct, and friendly.

    Barclays have rude, inconsiderate, incorrect, and incompetent offshore call centres and their branch staff are equally inefficacious.

    Steer well clear of Barclays. Unless you're with Santander, then they're marginally better :o
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  • Mrs_RyanMrs_Ryan Forumite
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    Ive just switched from Santander to Barclays and in all fairness, Barclays have been brilliant. Never had cause to phone the call centre but the staff I've spoken to have all been polite, pleasant and couldnt do enough to help.

    However theres time, Im sure... :D
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  • tbournertbourner Forumite
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    When we moved I wrote to Barclays to change address (cos they're only open when I'm at work), they said they couldn't match my signature! I had to take a half day to go in there - bint who did it had caps lock on so now our chequebooks say "mR t bOURNER" on them - haven't been bothered to get it changed. Idiots.
    Trev. Having an out-of-money experience!
    C'MON! Let's get this debt sorted!!
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