Reason for opening?

shaneshaneshane

Hi guys

Do you think your more likely to get declined for a current account from a new bank to you with a high interest rate if your honest on sign ups and specify that the current account you wish to open will be used for savings therefore looking like your signing up for the high interest rate and of course, will be unlikely to make the bank any money?

Or do we think the banks aren't THAT worried about a couple of K at 5% or whatever.

Difficult to know for sure so opinions anyone?

Cheers

EarthBoy

I put savings on mine and it didn't cause a problem.

shortcrust

They know that large numbers will sign up just for the interest so my guess is that it's asked more for marketing purposes than as part of the decision making process.

knack92

TSB? If so they say it's not used in the decision making process.

Joe_Bloggs

If a bank presents an opportunity to a potential customer and the customer finds the deal acceptable then I would say agreed terms and conditions are the reason for opening the account. Interest paying or not.

Quite often the savings bonus element with an account collapses into nothing after a time period that you were supposed to have forgotten about.

Savings could also be made by not wasting hard earned money on the usual crap you buy that is not as good as it used to be.

J_B.

jennifernil

I put "savings" when I opened all mine, no problems.

LplateSaver

I put savings as the reason for our 6 TSBs. It didn't cause any problems, they know we're saving for a mortgage anyway so they'll have more money to make from us in the future.