Don't want to burn my bridges!!!

eastofeden

I have wised up to the multiple bank accounts way of maximising saving through favourable interest rates. I am just getting my head round it all and have switched my Barclays account to a Halifax Reward.

I have set up (after advice on here) 3 BOS Vantage and 2 Tesco accounts in anticipation of a lump sum when I retire in September.

On Friday I am switching a second Nationwide account (dummy) to a M and S account. I am just wondering whether my plan to then switch to the Coop and then FD is a good one, or whether the M and S account is worth hanging on to for the Regular Savings account?

Can anyone with multiple accounts (Colsten, Yorkshire Boy, Archi Bald et al) advise on which accounts are better to hang on to, and which can be ditched and switched without a backward glance?

leeroy2009

id switch to fd first (and keep the account) £125 sign up bonus (cash) and the 6% rg saver, and acquire some more dummy accounts for switching.

leeroy2009

should of also said fd have a habit of dropping the sign up back to £100, so makes sense to grab it when its at £125

inspireme247

Keep an eye on cashback websites too e.g. £40 for Halifax through Quidco, £42 for Co-op through Topcashback, etc.

leeroy2009

inspireme247 wrote: »

Keep an eye on cashback websites too e.g. £40 for Halifax through Quidco, £42 for Co-op through Topcashback, etc.

loads of offers on tcb for credit cards and bank accounts at the minute.

Archi_Bald

eastofeden wrote: »

I am just wondering whether my plan to then switch to the Coop and then FD is a good one, or whether the M and S account is worth hanging on to for the Regular Savings account?

The M&S account is definitely a lot more valuable now because of the regular saver. You might keep it, or open another one after you switched out - whatever is easier for you. Agree with leeroy2009, more donor accounts could be easiest overall, especially since you seem to want 2 "keepers" (M&S and FD) now.

I had switched my M&S to Halifax several months ago, before they had the RS. I had kept my M&S online access since I had a savings account with £1 in it. So I transferred £250 into the retained M&S savings account and then called them to open another M&S current account and their RS at the same time. Only took 10 minutes to do the lot as they 'knew' me. They didn't ask why I applied again but if they had, I would have said it's because they now offer the RS. I like sticking with the truth