Switching bank accounts

ste1200

Hi, I'm looking for some advice about switching bank accounts. I currently have the following with Natwest

Joint current account
Joint savings account
Personal current account
Another personal current account for my business
Wifes personal current account for her business
Mortgage
Loan

I can see everything together on my internet banking which is great.

I use a cashback credit card where I get 1-1.5% on spend which I use all the time (approx £1200/month) and then pay it all off at the end of each month.

I'm tempted to move our joint account to the Clydesdale with the £150 switch offer, but wondering if it will be inconvenient moving money from and to different accounts like a do with Natwest ? Also, do you know how long I would need to be with the Clydesdale to get the cashback (in case I wanted to do a similar offer again, or move back to Natwest) ?

Also tempted by the Santander 123 as a different option, but not sure if I will gain any more cashback than what I currently get. Any thoughts please ?

Thanks
Steve

Dobbibill

This may help you decide what is best for you....

http://www.moneysavingexpert.com/banking/compare-best-bank-accounts

or this....

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

Some people have reported getting an additional £40 via TCB when doing a switch to Halifax plus the £5 reward each month means it is worthwhile, if you meet the criteria.

see this thread

Your savings account could be moved manually but under the CASS it is only current accounts that they will move with the 7 day guarantee.

For your business's you should have a business account. If Natwest or any other bank see that you are using a personal account for business, they can withdraw the account. Check your T&C's.

With internet banking, you will be able to log in and move money with any of the banks, for you it would just mean logging in to more banks than just the one to see your accounts. FP's between banks mean you can move funds just as easy, they are obliged under the PSR (payment services regulations) to have your funds moved by the close of business on the next working day (although very often it is there within a few hours)

Hope this helps

DB