How many bank accounts can 1 person have?

jennifernil

Alpine_Star wrote: »

I think that holding 10 current accounts is completely unnecessary.

Haven't people got better things to do in their lives than open numerous accounts?

The cost of providing multiple accounts (circa £85 per anum each) is ultimately passed on to those with just one.

Well, if you can tell me where I can get 4% on instant access savings, I will gladly close 3 of mine.

And if you know of an account where £1000 will earn me £18.75 per month, I could close another 3.

themull1

I've had the same one with HSBC for 26 years, and thats my only one, i feel so old fashioned!!!!

noh

Alpine_Star wrote: »

I think that holding 10 current accounts is completely unnecessary.

Haven't people got better things to do in their lives than open numerous accounts?

The cost of providing multiple accounts (circa £85 per anum each) is ultimately passed on to those with just one.

That's Ok then I have 11!

The only reason I have that many is because they give me extra income.
As jennifernil pointed out 3 Halifax Reward accounts give £225 pre tax income per year for very little effort.
No where else will offer the 4% instant access on £21000 like 3 Llyods Vantage accounts do.

teffers

Alpine_Star wrote: »

I think that holding 10 current accounts is completely unnecessary.

Haven't people got better things to do in their lives than open numerous accounts?

The cost of providing multiple accounts (circa £85 per anum each) is ultimately passed on to those with just one.

If you want to pay the bank to have credit products or other 'premium' facilities then, I'm afraid, that's your [STRIKE]lookout[/STRIKE] I mean incentive - not mine, I bank for free.

I have several accounts, a mix of basic and current and I use each one to budget my income and to ring-fence money away, e.g. my direct debit account is different to my living exspenses cash and so on.

I have about 8 'normal' accounts however this includes things like basic accounts which I have now opened current accounts along side after running them well for a year.

[Deleted User]

and some other bank accounts can offer good features

I have:
Natwest Adapt
RBS Revolve
Lloyds TSB
Nationwide FlexAccount
Metro Bank Cash Card Account
HSBC
Halifax Cardcash
Bank of Scotland Easycash
The Co-Operative Bank Current Account
Santander (:P)
Barclays

Had a Norwich and Peterborough Account before but closed
In process of getting a yorkshire bank Readycash / Current Account Plus

e.g. metro bank and n & p no fees using abroad
TSB i like as they can debit acc immediately if a lloyds tsb cheque is received + interest

u109230

Andystriker wrote: »

I have

3 x Lloyds Vantage

3 x Halifax Rewards

1 x Nat West

1 x HSBC

1 x First Direct

2 x Nationwide

I'm thinking of opening up 2 or 3 Lloyds Vantage accounts as a savings vehicle, but I was wondering how you juggle the monies around these accounts based on the Lloyds conditions of max £7000 & a calendar month payment into them of at least £1000?

Do you guys build up each account to £7K & then just send £1K per month outside the Lloyds group & then send back £1K into each account the day after from an account elsewhere?

Tips or tricks appreciated!

Nikel

1 x Halifax Reward (for the fiver)
1 x HSBC Bank Account (originaly Midland bank acc)
1 x Barclays Current (for the fun of it)

I have regular savings with each bank and they insisted I open a current account when I applied.

jennifernil

u109230 wrote: »

I'm thinking of opening up 2 or 3 Lloyds Vantage accounts as a savings vehicle, but I was wondering how you juggle the monies around these accounts based on the Lloyds conditions of max £7000 & a calendar month payment into them of at least £1000?

Do you guys build up each account to £7K & then just send £1K per month outside the Lloyds group & then send back £1K into each account the day after from an account elsewhere?

Tips or tricks appreciated!

Before I had £7k in all mine, I used the £1000 that goes round my HBOS Reward accounts to go round the Lloyds ones.

Now I have £7k in each, I just move £1000 from a/c A to B to C to A. No need for it to leave Lloyds.

I do it all by standing order, easier as we travel abroad for extended periods, but you could easily do it manually.

I move the interest out each month.