Switching Bank Accounts

Cotta

Hi All,

I have one back account namely the Halifax reward which I've had now for 18 months. I got at the time the £100 switching reward and I aways get the £5 per month reward for paying in £700 and having two direct debits setup with the account. I feel I should be making more use of the switching bonues on offer at present but as I like the £5 per month reward at Halifax I am relucant to change - what are my best options?

Thanks.

grumbler

Open a new account, possibly with the same Halifax, then switch it.

badger09

Cotta wrote: »

Hi All,

I have one back account namely the Halifax reward which I've had now for 18 months. I got at the time the £100 switching reward and I aways get the £5 per month reward for paying in £700 and having two direct debits setup with the account. I feel I should be making more use of the switching bonues on offer at present but as I like the £5 per month reward at Halifax I am relucant to change - what are my best options?

Thanks.

Its £750 per month

Best option is to open another account, probably easiest with Halifax as you already have some history with them, and switch that 2nd account to wherever you want.

Always remembering to abide by the T&Cs of the bank to which you want to switch

Cotta

Excellent point regarding the setting up of a duel account, thanks all.

Cotta

Would Halifax not query why I'm setting up a new current account with them and switching over all the DDs from my old account to the new account?

badger09

Cotta wrote: »

Would Halifax not query why I'm setting up a new current account with them and switching over all the DDs from my old account to the new account?

Why should they query this? You can arrange your financial affairs in any way which suits you.

Why would you switch all your DDs to the 'new' Halifax account? Surely you would leave 2 on the 'old' Halifax account, otherwise you will forfeit the monthly £5 :cool:

Delta_1984

Hi All,

I've just opened a second H current account with a view to switching out (prob to FD for welcome and Reg Saver). How long do I need to wait before switching out, is it best to leave a few days/weeks/months?

Does anyone happen to know how often is there a £125 welcome through to FD (through MSE ) rather than the usual £100? I realise I just missed the last one.

Thanks

grumbler

Delta_1984 wrote: »

How long do I need to wait before switching out, is it best to leave a few days/weeks/months?

A thread: How long before you can switch current accounts