How many current accounts is it OK to have.

plunt

iAMaLONDONER wrote: »

I thought you meant that you only had 1 student account rather than that you lied to the bank lol!

I have multiple student accounts, some banks dont actually state you are only allowed one... so just find the right combination. Also be careful if opening in branch as they didnt ask me if i hold multiple student accounts (and their t&cs werent against it) so i was okay, other friends got directly asked... matter of luck. nice to have two big overdrafts for stoozing!

Herbalus

plunt wrote: »

I have multiple student accounts, some banks dont actually state you are only allowed one... so just find the right combination. Also be careful if opening in branch as they didnt ask me if i hold multiple student accounts (and their t&cs werent against it) so i was okay, other friends got directly asked... matter of luck. nice to have two big overdrafts for stoozing!

What happens if you just say 'no'?

iAMaLONDONER

plunt wrote: »

I have multiple student accounts, some banks dont actually state you are only allowed one... so just find the right combination. Also be careful if opening in branch as they didnt ask me if i hold multiple student accounts (and their t&cs werent against it) so i was okay, other friends got directly asked... matter of luck. nice to have two big overdrafts for stoozing!

As far as I know, all banks have know made opening more than one student account breaking the t&c's

iAMaLONDONER

Lith wrote: »

18 and 12? you guys must be underground drug lords yea? lol..



I have around 4 or 6 forgot lol there is no LIMIT

Current accounts pay higher interest than savings accounts nowadays!

melj16

Because of banks becoming more 'picky' as to who they take on as customers, and insisting that if you open a (New to bank) current account you must switch your existing account, you may find it a bit more difficult now than the people who already have a large number of current accounts which were opened a while back when rules were maybes a bit more laxed.

Archi_Bald

melj16 wrote: »

.....insisting that if you open a (New to bank) current account you must switch your existing account...

There is little if not no evidence that people must switch their old accounts if they want to open a new current account.

The only time you must formally switch (i.e. close your old account) is if you want to get get joining bonus at Halifax, First Direct and the Coop.

You can still open a 2nd (3rd, 4th etc etc) current account at all banks, including the above, with no need at all to close your old account. Just don't expect they will pay you a joining bonus now.

melj16

Archi_Bald wrote: »

There is little if not no evidence that people must switch their old accounts if they want to open a new current account.

The only time you must formally switch (i.e. close your old account) is if you want to get get joining bonus at Halifax, First Direct and the Coop.

You can still open a 2nd (3rd, 4th etc etc) current account at all banks, including the above, with no need at all to close your old account. Just don't expect they will pay you a joining bonus now.

I work for a high street bank and with us.....No switch = no account.

If I come to realise that a customer has several bank accounts I will categorically refuse to open them an account. No business needs these sort of customers.

Just to explain the amount these customers cost a bank....

The man power to open the account, the paper, the ink.....sending copies of ID to another department elsewhere in the country who then check over again, storage of the account opening paperwork for 7 years......Sending out new account info in post, debit cards, pin numbers. statements.....new debit cards as they 'lost the last one'.....

Costs banks too much money so you can see why they would refuse to open an 8th current account for someone who just 'fancies' another bank account.

JKSandy

melj16 wrote: »

I work for a high street bank and with us.....No switch = no account.

If I come to realise that a customer has several bank accounts I will categorically refuse to open them an account. No business needs these sort of customers.
QUOTE]


I would have your neck on a platter if you refused me an account because I wouldnt switch or you felt I had too many accounts.

melj16

JKSandy wrote: »

melj16 wrote: »

I work for a high street bank and with us.....No switch = no account.

If I come to realise that a customer has several bank accounts I will categorically refuse to open them an account. No business needs these sort of customers.
QUOTE]


I would have your neck on a platter if you refused me an account because I wouldnt switch or you felt I had too many accounts.

Well you could try, but considering I'm just the one Abiding by the rules set to me.....you'd not get very far i'm afraid.

A bank is not obliged to give you a loan so what makes you think a 2nd, 3rd 4th and god knows how many more bank accounts are a given right? The bank has the right to turn anyone down, they not obliged to take you on as a new customer (unless you literally have no bank account what so ever) they don't even need to give you reason, that is in terms and conditions.

Archi_Bald

melj16 wrote: »

I work for a high street bank and with us.....No switch = no account.

Let me guess - HSBC?

melj16 wrote: »

No business needs these sort of customers.

No customer "needs these sorts of banks". Luckily, we as customers have options, and luckily, a bank clerk can't police how many current accounts people have.

melj16 wrote: »

Just to explain the amount these customers cost a bank....

Does a customer who has got current accounts elsewhere cost a bank more than a customer who just has an account with one bank? Do you mean your chances of milking a customer who shops around aren't as high as you'd like them to be?

Your argument is a bit like Tesco saying "you can't shop with us if you also shop at Sainsburys because it costs us a lot to stock our shelves".