Can I have more than one current account with different banks?

Vard

I know that you can have more than one current account with the same bank, but can I keep my existing (HSBC) current account open after I 'switch' (open a current account) to another bank like Halifax?

Any help much appreciated!

grumbler

You can open accounts with as many banks and BSs as you want if they accept you. However if you switch using the switching service the old account gets closed.

Futuristic

If you use switch service then the old account will be closed. Some accounts have restrictions to how many they will let you open or disallow the advantage of the extras included (ie. no interest on 2nd account).

SailorSam

I've had more than one bank a/c in the past.

agrinnall

I have 5 current accounts at 4 different banks just now, and I'm sure some people will have several more than that to take advantage of the current account interest opportunities.

TheTracker

I've usually around a dozen "current" accounts over half a dozen banks. Without looking it up, I'd be surprised if I hadn't had 40-50 current accounts over 10 years. I've had two dozen at times (long live vantage). I've lived and worked around the world and the UK seems quite peculiar in the idea of a "current" account as the word implies a singular instance. Even the idea of "switching" makes it sound like there should only be one. Meanwhile other countries call them transactional/checking/chequeing/demand. I may be balmy but I think the words current and switching are half the problem.

stclair

Some banks will allow you to do a "partial switch" but you will not be covered by the switch Guarantee.

thebritishbloke

You can open as many accounts as you like, and in order to take advantage of switching offers you merely have to switch a bank account. Doesn't matter whether it's your main one or a spare one you have. I have about 10 current accounts, I think.

LplateSaver

I'd love to know how many everyone has. I read someone who said 22 :eek: I wondered when I read that how they could all be serving a purpose? I have 3. My OH has 5. All paying interest/reward.

YorkshireBoy

LplateSaver wrote: »

I read someone who said 22 :eek:

Might have been me, although others on here say they have/have had 30 (some of these will be joint I'd imagine?).

I wondered when I read that how they could all be serving a purpose?

4 x Halifax Reward: Free fivers
2 x TSB Plus: 5% AER
1 x Club Lloyds: 4% AER (and access to 4% AER regular saver)
1 x Santander 1-2-3: 3% AER
3 x BoS Vantage: 3% AER
2 x Tesco: 3% AER
1 x Yorkshire Bank: 4% AER (and 30+ years held so good for credit rating)
1 x Nationwide FlexAccount: Free UK/European travel insurance
1 x Metrobank: Zero loading ATM withdrawals in Europe

Plus another 6 accounts* doing nothing. Useful to have some ready for switching offers but I should really get round to closing 3 or 4 of them!

I make that 22.


*
2 x Nationwide FlexDirect
2 x Lloyds Vantage
1 x Co-op
1 x M&S

Kim_13

I've got 2. The 2nd one I thought they were just swapping my savings account card to a debit card, but it ended up being another current account to run alongside it. When I had issues with my original bank that the provider failed to sort, I began to use the 2nd account as my main one and later upgraded it to a packaged to get the phone insurance and extended warranty. I keep the first open as it's the oldest thing on my credit file.