Switching banks

clairecymru

I have been with Abbey/Santander for almost 20 years. I have always found their customer services soooo infurating.

I have recently opened a nationwide account to get a better deal on my mortgage and was thinking about switching my main account from santander to nationwide.

Is this a good idea? Will it damage my credit rating by switching banks? Shoud i close my santander one completely or keep it open?

pwuk

Partly a good idea. Personally I'd consider an alternative to Nationwide but that's just my own thoughts - research the net and see if that's where your money will perform best for you. As regards leaving Santander - there should be no thoughts to it - you've been loyal for twenty years - I was loyal to them for 12 but am happy I ditched them. Make the move.

Whilst it will have an impact of sorts on your credit rating I would not put this down to anything considerable. The alternative is to keep the Santander account open but just ticking over, doing nothing more than meeting your needs. Let it be your turn to use them the way they have you for 20 years.