Creating an account just to switch

xiaoipower

Hi all,

I was wondering if any of you have made accounts for the sole purpose of switching to another bank in order to take advantage of the many switching incentives that are currently available.

My general questions are:

1) Is there any particular bank that is easy to setup an account with (free, over the internet and instant decision)?

2) If I then immediately apply to switch that account to say co-op - is it likely to be rejected on account of the fact that the account I am switching over is a few days old?

3) Would this work if neither account is my main account (for that matter how do they know which is my main?) - even though I have sufficient funds to dump say 1 or 2K in them.

Many thanks.

anoncol

The only thing you need to transfer an account is to have activated the debit card for the donar account.

xiaoipower

Thanks are there any suggestions you might have for donor accounts?

Archi_Bald

One of the bank representatives posting on this forum will no doubt soon be along and help. Or may be they won't.

coolasacucumber

Try and open a second c/a with your current bank. Should be an easy, straightforward process.

M0ney

I've done this twice now with the TSB classic a/c

thebritishbloke

Just open a second account with any bank you're currently with. I switched my second HSBC account to the Halifax Rewards account, and then opened a Halifax Current Account to Switch to Co-Op, which will later be switched to M&S then First Direct.

No_6

How long was the account opened for, one week or more ?
before going for a switch.
My new account will be available in 2 working days, to transfer money in, they will send the debit card and pin/account details etc asap.
No monthly fees or salary payments required, basic account with Nat West
When can I switch safely.


Cheers
6

thebritishbloke

No_6 wrote: »

How long was the account opened for, one week or more ?
before going for a switch.
My new account will be available in 2 working days, to transfer money in, they will send the debit card and pin/account details etc asap.
No monthly fees or salary payments required, basic account with Nat West
When can I switch safely.


Cheers
6

It was open for less than a day before I started the switch process. Just make sure you have any required DD/SO's set up to qualify for a switching bonus.