how many current accounts?

heman2012

How many current accounts can open in theory? Is there a limit per bank or in general?

Also can opening current accounts affect your credit rating?

guesswho2000

Nope, you can have as many as you're approved for. Some banks have limits, such as Halifax which now only lets you have one Reward Current Account per person.

The initial search and appearance of a new account may have a slight negative effect on your CRA file, but in the long term it makes little to no difference.

I have 6 current accounts personally, and I expect it's the 8 credit cards I hold which have a bigger impact on my file!

Hominu

Like guesswho2000 says.

I have 10 current accounts in total, 7 of which are in the LBG.

I always close current accounts which have no use, the 10 I have at the moment all serve some purpose or other (typically rewards).

heman2012

I see. Good to know.

Thanks!

FireWyrm

I have a tesco savings account, a co-op current account, a HSBC current account, a Natwest current account and about 5 sub-accounts/pots off that for piggy-banking purposes. All accounts exist for a good reason and having attempted for many years to budget and manage with one, found that the piggy-banking idea is much more useful for keeping track. After the kerfuffle last year with banks apparently going down left and right, it frightened me enough that I decided to stop having all my eggs in one basket. Since I dont believe the banks' assurances nor their explanations for the events of last year, it seems like a sensible precaution. Nothing is going to protect you against a complete financial meltdown, but the ability to get money from somewhere while others are floundering is hugely valuable in my book.