Switching branch?

bugsies

So I've just finished my degree and moved back home. Currently working out all my finances and planning for a debt free life - will be debt free within a year. But I was wondering is it possible to change branch? I'm with RBS at the moment and I set up my account at the branch in my university, I won't be near there much anymore and would prefer to move branch closer to home. Is this possible? Is it worth the hassle?

Still learning all about money and finances so I apologise if this is a bit of a stupid question.

dezza

I tried to do this a few years back for the same reason but was told this can't be done with RBS - opening a new account would be necessary.
There isn't much benefit to doing so though - you can still do everything at your local branch that you could do at your 'home' branch.

Archi_Bald

Is there much benefit in having an account with RBS at all? There are several other banks that offer in-credit interest - TSB, Lloyds, Bank of Scotland, Santander, Nationwide....plus there is Halifax that can pay a fiver a month. Nationwide also offer 12 months 0% overdraft, which might help with your getting debt free quest.

See also your other thread in which you say you want to save £40K a year - RBS won't be much help with that.

System

Branches are almost irreverent now as everything is done centrally.
I doubt the change would be worth the effort.

Fruit_and_Nut_Case

Heng_Leng wrote: »

Branches are almost irreverent...

Blasphemy abounds.

Sorry, couldn't resist.

InsideInsurance

Why do you want to change branch? They are basically sales offices now and you can use any of them for that.

To change branch you normally need to change sort code and thus also account number which means everything else much change too. Seems a lot of pain for no gain.

pmduk

The only reason to swap branches would be if you bank at a branch due to be sold and wish to remain with RBS

bugsies

Thanks, that's fine. I'll just stay at my current branch. Thanks Archi Bald, just about to take a look at that, this is the sort of information I need to know and learn about from far more experienced people like yourselfs. I went for the RBS account for three reasons initially; 1, my parents bank with RBS 2, it was the only bank in my uni and they were helping everyone open accounts during freshers week 3, interest free overdraft :-D... which was well abused, spent £500 during freshers and I honestly don't know what I spent that on. I'll have the overdraft paid off long before any interest kicks in, still have two years.

[Deleted User]

bugsies wrote: »

So I've just finished my degree and moved back home. Currently working out all my finances and planning for a debt free life - will be debt free within a year. But I was wondering is it possible to change branch? I'm with RBS at the moment and I set up my account at the branch in my university, I won't be near there much anymore and would prefer to move branch closer to home. Is this possible? Is it worth the hassle?

Still learning all about money and finances so I apologise if this is a bit of a stupid question.

You probably could change branch if you really wanted to, but as others indicate, it will probably involve closing the existing account and opening a new one. (You will have a new sort code, so you will have to have a new cheque book, paying in book, payment card, etc)
If you ask at the branch you wish to have the account held at, I'm sure they will explain.

But they will probably explain there really is no need (unless they are on a sales drive to attract new accounts to that particular branch). You can do almost the same at any branch. About the only difference is that if you pay in cheques issued from your own branch (or sometimes local group of branches) they may clear quicker.

stclair

bugsies wrote: »

So I've just finished my degree and moved back home. Currently working out all my finances and planning for a debt free life - will be debt free within a year. But I was wondering is it possible to change branch? I'm with RBS at the moment and I set up my account at the branch in my university, I won't be near there much anymore and would prefer to move branch closer to home. Is this possible? Is it worth the hassle?

Still learning all about money and finances so I apologise if this is a bit of a stupid question.

The bank functions are centralised now so changing branch will not make one ounce of difference.

Unless you want to avoid the England branch sale.