How often can I apply for current accounts?

cydney65

Hi,
I'm sure this question has been asked before but I promise I have searched this forum and I can't find an answer.

Basically I switched my current account over to Halifax reward account at the beginning of January for the switching incentive and the £5 every month. I then decided, last week, to apply for an ordinary current account with Santander, have been accepted and tonight have sorted out two direct debits for the new account.

I want to switch this Santander one to First direct (£100 switching incentive 6% regular saver) or Nationwide (5% on balance) whilst keeping the Halifax one. How long should I wait until I apply to switch to either of these accounts bearing in mind that yet more credit checks will be done?

At some time in the future I want to open another current account which I can switch to another bank when their incentives come up. Again how long should I leave this?

Thank you everyone

zerog

cydney65 wrote: »

Hi,
I'm sure this question has been asked before but I promise I have searched this forum and I can't find an answer.

Basically I switched my current account over to Halifax reward account at the beginning of January for the switching incentive and the £5 every month. I then decided, last week, to apply for an ordinary current account with Santander, have been accepted and tonight have sorted out two direct debits for the new account.

I want to switch this Santander one to First direct (£100 switching incentive 6% regular saver) or Nationwide (5% on balance) whilst keeping the Halifax one. How long should I wait until I apply to switch to either of these accounts bearing in mind that yet more credit checks will be done?

At some time in the future I want to open another current account which I can switch to another bank when their incentives come up. Again how long should I leave this?

Thank you everyone

You can do it whenever you like as long as there is nothing bad on your credit report and you don't ask for overdrafts. And don't apply for credit cards when there are a lot of searches.

bengal-stripe

These days, quite a few accounts have minimum funding requirements and other conditions.

The more accounts you have, the more complicated it becomes to shuffle your money around to fulfil the conditions of the different accounts.

cydney65

Thanks guys for your answers. I applied for an overdraft and credit card on the Halifax one in January but declined both in my application to Santander. My credit file is fine fortunately, no nasty defaults, CCJs etc.

I'm prepared for a little juggling around of money and have built up what I call a roll over fund of £1500 which I can switch around the accounts as well as £1000 in savings which I was going to bung in the Nationwide and use as a savings account and build up to the £2500 limit.

I just want all of my money, which isn't a great deal TBH, to work as hard as possible for me and if I can use the banks to do so, then all well and good.

So waiting for say a month before applying to switch to Nationwide/FD would be okay?

Thanks

fiesta04

If you are sure your credit record is OK, go for them. If unsure pay £2 for a copy from Experian. Other agencies too maybe.

Best of luck.

F4