How often can I switch?

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
10 replies 1.7K views
bethalbethal Forumite
9 Posts
edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
Hi

Wondering if anyone can help me.

I recently switched to the Coop bank in November and have received their switching bonus. Since switching to them, I've had nothing but bad customer service and would happily switch again.

Does anyone know if there is a limit on how often I can switch banks? I would apply for another account with a switching bonus. I understand that my credit file would be affected, however I'm hoping the next bank I choose will be perfect as I'm quite happy staying in once place after this.

Thanks

Replies

  • grumblergrumbler Forumite
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    bethal wrote: »
    Does anyone know if there is a limit on how often I can switch banks?
    No.
    I'm hoping the next bank I choose will be perfect
    I'd hope to switch for yet another bonus and get the perfect bank at the end when there are no bonuses left.
    We are born naked, wet and hungry...Then things get worse. :(

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
  • colstencolsten Forumite
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    bethal wrote: »
    I recently switched to the Coop bank in November and have received their switching bonus. Since switching to them, I've had nothing but bad customer service and would happily switch again.

    It's not necessary to provide a reason for switching - you just switch if you like to (and if the new bank accepts your application). You don't need to admit that you only want to switch for the switching incentive - lots of us, incl. myself, do this.

    Stop talking about a "perfect bank" - you know as will everyone else that you don't believe that there is such a thing as a perfect bank.
  • Re: the perfect bank

    Different banks have different strengths and weaknesses. None are perfect. You can have as many as you like. So you use the best from all you have.
  • I am interested as to how much your credit file would be effected and for how long as mentioned by OP?
  • grumblergrumbler Forumite
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    jayjay21 wrote: »
    I am interested as to how much your credit file would be effected and for how long as mentioned by OP?
    See 'credit search' - it's the trace one application creates.
    We are born naked, wet and hungry...Then things get worse. :(

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
  • jayjay21 wrote: »
    I am interested as to how much your credit file would be effected and for how long as mentioned by OP?



    I have opened several bank accounts for the incentives over the last two years, some I have kept open for things like the interest rate or reward and some I have closed when doing a switch.


    I haven't had any issues with being accepted in this time for any applications I have made and I have made several more than I normally would.


    Possibly a concern if applying for a mortgage but not sure, although I wouldn't think so as long as they all don't have overdrafts.
    All that glitters is not gold.
  • colsten wrote: »
    Stop talking about a "perfect bank" - you know as will everyone else that you don't believe that there is such a thing as a perfect bank.
    My perfect bank would be one which sends a strip-o-gram every day to deliver my latest statement :D
    Are you for real? - Glass Half Empty??
    :coffee:
  • badger09badger09 Forumite
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    My perfect bank would be one which sends a strip-o-gram every day to deliver my latest statement :D

    Eeeewww :eek:

    Just as well we're not all looking for the same things in life :rotfl:
  • You need to find the perfect bank, which fulfills all your need. It makes no sense to change banks frequently.
  • HerbalusHerbalus Forumite
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    Slightly off-topic, but I would like to see a scenario where a bank account is switched at least six times in a year, and then a payment of £1 is sent to the first account to see if it arrives at the last.

    It would be an interesting experiment to see if the systems could cope with it. Or maybe it actually could cope and it'd be boring...
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