Making the most of switching bonuses

boogan

Hello all,

This may be an obvious one but here it goes... I'm keen to jump onto the bank account switching game - starting with First Direct so I can also get the bonus for switching away. However, I don't have any accounts I'd want to switch from. I have a 123 Santander account for all my bills that gives me 3% on everything in it plus cashback (over £300 a year). And I also have a Halifax account (main account where my salary is paid into) paying in £5 every month.

Would you recommend getting an average account so I can switch away from it? If so, any ideas which one? Or is there somewhere an account that will give you a bonus without switching (why would they, but you never know). I've looked at the best in credit bank accounts on this site but there's too much choice and I'm finding it quite hard to see what would be best!

Thanks and any ideas are much appreciated.

bolzano

Subtlety is not your strong point I see..

Bear in mind you need to have the account open for 6m with First Direct before the switching out bonus applies. The best offer of Yorkshire/Clydesdale will be finished by then. You might consider keeping First Direct open even - the regular saver is market leading at 6%.

In answer to your actual question... Most banks let you have more than one current account...

Archi_Bald

Most banks also read this forum.

boogan

Hello,

No subtlety has never been my strong point. Another one of those British traits I'm too old to acquire now... same as punctuality

Of course they read the forums and surely they know people are going to want to take advantage of their offers as much as possible...
I bet First Direct will be looking out for a Boogan signing up soon!

So, thanks for your reply @bolzano, I was simply asking if there were any good accounts (other than opening a second account where I'm already banking) that I could use as starting point. If the answer is no, any account will do or there are no accounts that offer bonuses without switching, then the world is my oyster!

Thanks,