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Should I close old savings accounts?
UncleZen
Posts: 861 Forumite
I currently leave old savings accounts open with £1 in. But if I do that I can't take advantage of rates available to new customers I assume. Is it advisable to close old accounts?
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I currently leave old savings accounts open with £1 in. But if I do that I can't take advantage of rates available to new customers I assume. Is it advisable to close old accounts?
Unless you have a particular reason to keep them open (eg feeder account for regular saver, to qualify for a higher rate on another account) I would close them.
You'll have fewer accounts to keep tack of (and fewer passwords to remember for online accounts) and you'll qualify, in time, for 'new customers only' deals.0 -
On the other hand, one of those banks/building societies may come up with a half decent account and if you have already got your ID checked and an online account with them you can make quick use of that.0
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Not sure I could be bothered with all the hassle of remembering where they were, passwords/PINs etc - how long do you keep them and have you ever actually started re-using one?0
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