Can you have three current accounts?

InsideInsurance

noh wrote: »

The N+P Gold Light account I opened last September is my 14th current account.

I cant help but wonder why you'd want/ need 14 current accounts.

There is no theoretical cap though some providers do limit the number of accounts you can have with them which receive certain benefits (eg the Halifax £5 monthly bonus).

Personally I have just two personal current accounts (down from 3 more recently) and it is more than enough for me.

innovate

You can get to 14 very quickly if you want to be able to get at offers such as the First Direct and HSBC Regular Savers, LLoyds and BoS Vantage, Nationwide Flexclusives, Santander cashback etc etc.

As long as you manage them well, there is nothing negative about having a dozen or more current accounts.

YorkshireBoy

InsideInsurance wrote: »

I cant help but wonder why you'd want/ need 14 current accounts.

Well I'm one behind 'noh' with 13.

In my case it's...

4 x Halifax Reward (worth £240 a year)
3 x LTSB Vantage (4% AER on £18K)
1 x YB (held 30 years plus, so looks good on credit scoring)
1 x Nationwide (free travel insurance)
1 x Santander (£10K overdraft stoozed, offsetting mortgage, and saving me £200+ a year)

Plus HSBC, Co-op, and NatWest...all opened for £50-100 incentives, but never got round to closing them. However, I'd probably only close 1 or 2 since it's always useful to have an account or two available should another switching offer appear somewhere.

Considering opening 3 x BoS Vantage as I'll need to find a home for some Derbyshire NetSaver funds next month and 3% will be hard to find elsewhere. That would take me to 16 (or 14-15 if I close two of those mentioned above).

I would imagine 'noh' is running something similar?

BugsyBrowne

I'm not a saver but defiantly a spender with £200+ going a month on takeaways which is a whopping 2.4k+ a year.

apt

Like others I've ended up with about a dozen current accounts, most because they offer better returns than a stand alone savings account, others for free insurance and use abroad. One positive side effect is that you've still got easy access to funds if one or two bank computer systems crash.

noh

YorkshireBoy wrote: »

Well I'm one behind 'noh' with 13.

In my case it's...

4 x Halifax Reward (worth £240 a year)
3 x LTSB Vantage (4% AER on £18K)
1 x YB (held 30 years plus, so looks good on credit scoring)
1 x Nationwide (free travel insurance)
1 x Santander (£10K overdraft stoozed, offsetting mortgage, and saving me £200+ a year)

Plus HSBC, Co-op, and NatWest...all opened for £50-100 incentives, but never got round to closing them. However, I'd probably only close 1 or 2 since it's always useful to have an account or two available should another switching offer appear somewhere.

Considering opening 3 x BoS Vantage as I'll need to find a home for some Derbyshire NetSaver funds next month and 3% will be hard to find elsewhere. That would take me to 16 (or 14-15 if I close two of those mentioned above).

I would imagine 'noh' is running something similar?

Yes much the same. I have a N+P account too for the zero foreign currency load on the debit card.
Will they allow 3 BoS Vantage accounts in addition to the Llyods ones?

innovate

noh wrote: »

Will they allow 3 BoS Vantage accounts in addition to the Llyods ones?

Yes .............................................................

plunt

i think I hit 224 at one point. (had 5-6 santander 5% current account that i managed to open in one go , then a couple with halifax (one with student overdraft facility which i stooze with), and a reward current account. then i have 3 with lloyds, 1 with n&p for my travels, one in nationwide to access their regular saver and potentially preferential mortgage rates, one with hsbc for student overdraft (stoozing) and their regular saver. And a few accounts in other countries

hmmm the other are dotted around. from what i have been told, if you are using an account and it isnt thaat old then its worth closing it if your not using it. on the other hand if its really old then its worth keeping for the long credit history. Also its easier to set up sub accounts later on if new attractive savings account become available with that provider! (saves the hassle sending in your passport and stuff if they can validate your identity)

So in response....


you should be perfectly fine! and n&p are great, if only they had competitive rates i would move everything to them!

buzi

YorkshireBoy wrote: »

Well I'm one behind 'noh' with 13.

In my case it's...

4 x Halifax Reward (worth £240 a year)
3 x LTSB Vantage (4% AER on £18K)
1 x YB (held 30 years plus, so looks good on credit scoring)
1 x Nationwide (free travel insurance)
1 x Santander (£10K overdraft stoozed, offsetting mortgage, and saving me £200+ a year)

Plus HSBC, Co-op, and NatWest...all opened for £50-100 incentives, but never got round to closing them. However, I'd probably only close 1 or 2 since it's always useful to have an account or two available should another switching offer appear somewhere.

Considering opening 3 x BoS Vantage as I'll need to find a home for some Derbyshire NetSaver funds next month and 3% will be hard to find elsewhere. That would take me to 16 (or 14-15 if I close two of those mentioned above).

I would imagine 'noh' is running something similar?

how does one get 4 halifax reward accounts :eek:

apt

Originally you were allowed 3 reward accounts per person. Halifax also had some current accounts that it discontinued. If you had one you could convert it to a reward account.