Multiple current accounts - the debit card dilemma

irm

As the wife and I approach 17 current accounts between us, I was wondering what the pros and cons are of keeping or destroying all the debit cards.

Not all of the accounts have cards - for some we said we didn't want them (and in some cases still got them anyway).

Personally I'd be in favour of cutting them all up, but I've seen references to needing the number off them if ever switching, but you could always write it down somewhere. How about closing an account? Would you need a card for that?

Some of them more recent cards have been lying in the kitchen - with their unopened PIN leaflets for months (!), so we really need to get them sorted

bsms1147

Yep, you'll usually need them to switch.

Change the pin on each card to something you'll remember, or a pattern based on each's 16 digit card number, put them all in a bag, and hide in your sock drawer. Job done.

colsten

I have lots of current accounts, all with debit cards. I change the PIN on each of them to something I can remember, and I keep all of them in my safe. As and if I close one of the current accounts, the debit card gets shredded.

Whether the debit card is needed or not for a switch seems to depend on the provider you switch to. Halifax seem to allow you to specify "I don't have a debit card", whilst the Coop and M&S seem to expect DCs. Not sure what would happen if you couldn't meet their expectations - worst case, I suppose, is that you could request a replacement debit card, and wait a few days to get it, and may be also to get a new PIN.I have made a few switches, always had & gave the debit card number, so can't comment on what happens if you you don't have the debit card.

I would most definitely not let unopened letters with debit cards and PINs lay about in my kitchen, or anywhere else in the house. Just an unneccessary risk to take.

Jakg

I don't think a card is required for a switch - it's just epected most customers will have them.

I switched to Co-Op from Santander without one, and the same to Halifax.

societys_child

In the process of switching a joint account at the moment, it's taken weeks because my missus hasn't had a card for the account for a few years.

They couldn't switch it without the card number and expiry date.

Tried to order one over the phone, but had to go into a branch and have a chat with the manager, who tried to up-sell us, do we want a credit card? etc etc.

Eventually manager ordered a new card for her and it came through the post yesterday which enabled me to start the switch again, on the phone (for 45 minutes) yesterday. Due to the bank holiday it won't complete until the 26th.

Moral of the story . . . keep your cards (up to date and somewhere safe)

[Deleted User]

irm wrote: »

As the wife and I approach 17 current accounts between us, I was wondering what the pros and cons are of keeping or destroying all the debit cards.

Not all of the accounts have cards - for some we said we didn't want them (and in some cases still got them anyway).

Personally I'd be in favour of cutting them all up, but I've seen references to needing the number off them if ever switching, but you could always write it down somewhere. How about closing an account? Would you need a card for that?

Some of them more recent cards have been lying in the kitchen - with their unopened PIN leaflets for months (!), so we really need to get them sorted

If you keep them, then you can obviously use them.
If you destroy them, then you can't.

e.g. some banks offer rewards for using their debit cards. e.g. I currently get 10% off any purchase made using my debit card from Morrisons (up to a maximum of £10 total) and the ongoing possibility of the bank paying the entire transaction of any debit card transaction (not sure if there's any limit, but it's like a competion draw, and I've not won yet )
That's with Lloyds. I think some other banks offer similar types of promotions.

Of course you would need to activate the cards before using them, and leaving the PIN next to the card is a definite security issue. You may even have difficulty in activating some cards now as I believe some banks place time limits on when they need to be activated by otherwise they are assumed lost.

If you really don't want the cards, I would suggest you inform the bank accordingly, otherwise they may carry on sending them to you. You could always request one later if you then decide you do want one.

27col

Why would anyone want to complicate their lives with 17 current accounts. Absolutely ridiculous.

dr_adidas01

27col wrote: »

Why would anyone want to complicate their lives with 17 current accounts. Absolutely ridiculous.

Perhaps to you it may be

27col wrote: »

Absolutely ridiculous.

but I like many others on here have a similar amount of accounts.

They are used for specific purposes, some to get cash back, some for there higher saving rates and some simply because they offer certain perks and benefits.

You might not want to have 17 accounts but others do, after all this is about money saving and getting benefits and perks that suit individuals.

shortcrust

27col wrote: »

Why would anyone want to complicate their lives with 17 current accounts. Absolutely ridiculous.

I can't comment on 17 accounts, but I've got 10 and they're all useful or profitable in one way or another. It's really not complicated, and certainly not ridiculous.

I just keep my cards in a safe place. I like knowing I can get access to a lot of cash in a hurry if ever needed.

Stompa

shortcrust wrote: »

It's really not complicated, and certainly not ridiculous.

It's ridiculous in the sense that we're now forced to jump through all these hoops for a reasonable interest rate. Oh for a return to the days of decent savings accounts!

dr_adidas01

Stompa wrote: »

It's ridiculous in the sense that we're now forced to jump through all these hoops for a reasonable interest rate. Oh for a return to the days of decent savings accounts!

Well with the way interest rates are with standard saving accounts, you're going to be waiting a longtime for the return of decent savings accounts.

If I have to spend 1 hour a month jumping through a few hoops to make my money work for me then then so be it.

The money I make out of it goes towards a nice holiday once a year, Which isn't bad for 12 hours of making my money work for me a year!!

So if you don't make your money work for you or search out the best deals, then quite frankly you deserve to have the piddly interest on your savings account that gets you diddly squat!!