Would they have me back?

m1kjm

Does anyone know if banks I had previously switched away from or closed accounts with (N&P, Barclays and Nationwide), would allow me to open a current account again, and if so, in what timeframes? I'm happy to try but I'd prefer to have some indication beforehand to avoid a refusal on my credit record. TIA

YorkshireBoy

Whilst some, eg Nationwide and their FlexDirect account, say you can't have another introductory rate for x months after leaving/closing, I'm not aware of any bank that keeps a blacklist of account holders they'd rather not have back (so long as they didn't abuse their accounts first time around of course!).


On a personal level I've had 2 or 3 opening/switching incentives from Co-op, 3 or 4 from Nationwide, a couple from Halifax, and probably others that I've forgotten!...so I think you can rest easy.

m1kjm

Thank you for your quick reply.


No, I've not abused their hospitality.


I was just wondering if they have a policy something like, 'You've left us so you're not coming back for x length of time'.


But if they don't, then I'll re-apply.

System

M&S Bank have a 12 month rule for current accounts.

However, they are not on your list and since they only recently launched are unlikely to have switched or closed them down already

Zkr65

The answers above are correct. Most providers will not offer introduction rates or incentives within a period (For Nationwide this is generally 12 months for Credit Cards, FlexDirect 5% offer etc)

Part of the 7-day switch programme was to make it easy to switch and streamline the process, It wasn't to battle over accounts/customers. You can also hold more than one current account with the same provider.. so when you do a 'full switch' which is where the incentives are usually paid; you do have to close the account, however before doing this you can always open a second (In a building society this can protect your membership status) and still deal with both companies.

There is no list kept of people switching out, it's not something that is fought for.. if someone wants to switch out, great.. if they want to switch back, even better.

You have to have some serious flags on your account to be denied any business.. (Serial complainers, Fraud issues, Money Laundering etc a switch is not something frowned upon)