New Bank Account Question - About to Start The Process

lturner

Hi,

im just about to start the whole process but wondered how i should go about opening a new account. Do I actually need to start having my salary paid into this account straight away and therefore switch over all my direct debits etc or can do this later if my bank (HSBC) does decide to close my account.

Obvioulsy I don't want to go to the trouble of moving everything over if I don't have to.

Thanks for your help,

Lee

Lizzy

It is unusual for the bank to close you account but it is worth having another open just in case.
Depending on your credit report will determine what account you can have else where. Just open one for now even if you don't use it.

Closing people accounts can be another legal issue. Retaliation for defending yourself.
The after sucessfully getting your money letter will say something like "we reserve the right to close your account if you b****r it up again ".

Lizzy

nickmack

Don't move anything yet, wait and see if the bank informs you that they are closing your account.

They will give you notice if they do and this is your cue to start the movement process.

Lucycat

Echoing what others have said above - open yourself a new current account now as it can take a while to get all the relevant bits sorted out (it's taken nearly a month for Nationwide to get a PIN number to me for my new account!) - but no need to actually move anything over yet unless you feel so inclined.

Lucy.

dexters_mum_2

I'm actually in the same position with Natwest, because I am bringing a claim and I had my account with Co-op closed for claiming charges, we've decided to oopen a Halifax account as a safe account and if we don't need it, we'll close it. So it might be worthwhile for you to open an account and get things sorted out then if you don't need to use it, you can close it or leave the option open...just don't use First Direct...they'll charge you a fee after Feb!