Changing the main bank account

andreauk2009

Archi_Bald wrote: »

I don't know what your "most recent letter" from Lloyds says but I am stunned that you would not consider the Club Lloyds account as your main account if you are already a Lloyds customer. The Club Lloyds is one of the best accounts in the market, at least in terms of interest rates.

If you have more than £5K to keep in cash, you could easily "park" that money in other current accounts. Lots of people are doing this.

Moving your current account to another bank doesn't need to involve closing your existing account. You can just open a current account elsewhere and move your incoming and outgoing payments yourself.

Well I wasn't aware about this Club Lloyds till a moment ago. That said I have already 3 bank account with them to get their 3% interest on the whole amount.

That said, I'm not sure the Club Lloyds can help as it applies on just one account, meaning that the others won't be covered.

andreauk2009

innovate wrote: »

Having said this, I don't understand why umpteen months of statements of a simple current account should suddenly become important if no more than 3 months of current account statements were important before?

Ah well .. in fact I wasn't sure

iAMaLONDONER

andreauk2009 wrote: »

Well, when I asked whether it was possible to do something I was then offered to invest in a standard saving account at a personalised interest rate.

Although it's hard to believe, that's what's happened.

Which branch was this - if you don't mind saying!

anotheruser

Lansdowne wrote: »

Yes you absolutely must download your account history before you close the account.

You don't HAVE to do anything.
Keeping old bank statements is an old fashioned thing to do. The problem with digital though is it's easy to forge. A "proper" statement, not so much. A digital statement, which is then printed isn't worth the Tesco value* paper it's been printed on.

If you've been with the same bank for a long time, you can ask them to print your entire history and they should be able to do with no problem.

If you're thinking of moving banks, THEN applying for a mortgage, just keep the old account open with £5 in it until the mortgage is through.

Don't forget, some banks close accounts after 12 months of inactivity.

*other cheap paper is available.

andreauk2009

iAMaLONDONER wrote: »

Which branch was this - if you don't mind saying!

The letchworth one, and I tell you something else. They have attached the wrong interest rates to the account, and after 2 weeks I received a letter from the Director apologizing for the mistake and offering a little sum to complensate the loss.

Trust me, in 2 months I earned 1k interest on £190k. Don't ask me the rates, as I can't remember

grumbler

~3.2%.........

iAMaLONDONER

andreauk2009 wrote: »

The letchworth one, and I tell you something else. They have attached the wrong interest rates to the account, and after 2 weeks I received a letter from the Director apologizing for the mistake and offering a little sum to complensate the loss.

Trust me, in 2 months I earned 1k interest on £190k. Don't ask me the rates, as I can't remember

Well I'll have to take a FCC service there one day!