Curiousness: How many different banks do you have an account with?

atlantis187

jennifernil wrote: »

Yes, it is easy to do, the R40 is a fairly simple form. She will need to enter all her savings income, just follow the instructions.

On 2 sole and 1 joint she could reclaim £3.12 per month, so £37.44 for the 12 months.

You reclaim after the end of the tax year, the refund usually comes through within 2-3 weeks.

Hey thanks for this,

Just a couple of more questions:

Why does she need to declare any savings accounts?
We do have a saving account but its linked to our offsett mortgage, there is a substantial amount in this but we dont get any interest off this. also its with first direct and not halifax.

jennifernil

To make a reclaim all income must be entered on the form, so she needs to enter any savings income, i.e.interest, from any bank.

If she doesn't have any then there is nothing to enter.

Here is the form........

http://www.hmrc.gov.uk/forms/r40.pdf

and the help notes.....

http://www.hmrc.gov.uk/forms/r40notes.pdf


Use boxes 3.1, 3.2, and 3.3 for the Halifax £5s

rendezvous67

I have one Nationwide Cashcard FlexAccount and the Natwest Basic Account as well as their First Reserve account.

adindas

Frogletina

I do not know whether you are already aware or not. If yes then just ignore this message.

You do not need to close your Bank a/c when switching to another a/c in another bank. I have exactly a similar case with you. I have 3 vantages a/c (v1, v2, v3) and I did full switching of my v2 to Coop without the need to close them.

The advantage you will get if you did not close it is that, you could still put some DDs and SOs, or you could move/switch it back to your vantage when the switching incentive in coop is already paid the vantage a/c is therefore ready to look for another incentive when it is available on the market. I have been using the same a/c to get incentive in several occasions

Frogletina wrote: »

Lloyds

2 x vantage
1 other vantage being closed when transfer to Co-op completed
....

Frogletina

adindas wrote: »

Frogletina

I do not know whether you are already aware or not. If yes then just ignore this message.

You do not need to close your Bank a/c when switching to another a/c in another bank. I have exactly a similar case with you. I have 3 vantages a/c (v1, v2, v3) and I did full switching of my v2 to Coop without the need to close them.

The advantage you will get if you did not close it is that, you could still put some DDs and SOs, or you could move/switch it back to your vantage when the switching incentive in coop is already paid the vantage a/c is therefore ready to look for another incentive when it is available on the market. I have been using the same a/c to get incentive in several occasions

Hi. Thanks for this. I have had a form sent to me to close the account which I have not dealt with yet. My understanding from talking to them was that they would close it and transfer the balance, and I wondered if they would spot that I hadn't done it.

Gromitt

No, they have no idea if you have actually closed the account or not.

adindas

When you completed the switching form, there is a box that need to be ticked to close the account. As long as you did not tick the box, they full transfer will be going on, but the account will not be closed.

As Grommit mentioned you will not know whether yo have closed ypur account or not ....

So if there is still a chance your old a/c will still open, you do npot need to close it.

Frogletina wrote: »

Hi. Thanks for this. I have had a form sent to me to close the account which I have not dealt with yet. My understanding from talking to them was that they would close it and transfer the balance, and I wondered if they would spot that I hadn't done it.

Frogletina

adindas wrote: »

When you completed the switching form, there is a box that need to be ticked to close the account. As long as you did not tick the box, they full transfer will be going on, but the account will not be closed.

As Grommit mentioned they will not know whether you have closed your account or not ....

So if there is still a chance your old a/c will still open, you do not need to close it.

I've not completed any forms, it was all done over the phone and then I went into the branch with my id.

My new account is now open, so I'll transfer my first £800 in tomorrow. And I will leave the other account open, I have cancelled the old standing orders.

I've got my card, pin and card reader so it's all systems go.

adindas

Dear Frogletina

They will send you the switching form then to your address.

I did not understand what you mean with "I have cancelled the old standing orders".

You do not need to do anything with your SOs and DDs on your old a/c as they will do it for. It is advisable that you do not put your SOs and DDs yourself, as you might be loosing your potential incentive of £200.

When you get the switching form and you sign it you authorize Coop to deal with your old bank a/c (e.g Lloyd TSB) to transfer all of your DDs and SOs.

If you also tick the box that you intend to close then your a/c will be closed (as it is based on you instruction).

So just relax and wait until you receive the switching form on your address.

Frogletina wrote: »

I've not completed any forms, it was all done over the phone and then I went into the branch with my id.

My new account is now open, so I'll transfer my first £800 in tomorrow. And I will leave the other account open, I have cancelled the old standing orders.

I've got my card, pin and card reader so it's all systems go.

Frogletina

adindas wrote: »

Dear Frogletina

They will send you the switching form then to your address.

I did not understand what you mean with "I have cancelled the old standing orders". (I meant they are now transferred/cancelled, see below)

You do not need to do anything with your SOs and DDs on your old a/c as they will do it for. It is advisable that you do not put your SOs and DDs yourself, as you might be loosing your potential incentive of £200.

When you get the switching form and you sign it you authorize Coop to deal with your old bank a/c (e.g Lloyd TSB) to transfer all of your DDs and SOs.

If you also tick the box that you intend to close then your a/c will be closed (as it is based on you instruction).

So just relax and wait until you receive the switching form on your address.

Everything is done

Two transferred standing orders are on my new co-op account, they did not cancel one of the standing orders even though they texted me to say that they all had been transferred so I just manually cancelled that one as it was not needed.

My completion date was 17th November.