Open a new account just to switch it?

RossP91

I currently have two bank accounts.

I have good perks on them so do not want to switch them.

To take advantage of the likes of the First Direct switching offer, I would like to open a bank account with another provider (or would it be simpler opening another current with one of my current providers?) to then just switch it out not long after opening it?

What I need to wait a while after opening to switch etc?

Thanks.

badger09

RossP91 wrote: »

I currently have two bank accounts.

I have good perks on them so do not want to switch them.

To take advantage of the likes of the First Direct switching offer, I would like to open a bank account with another provider (or would it be simpler opening another current with one of my current providers?) to then just switch it out not long after opening it?

What I need to wait a while after opening to switch etc?

Thanks.

Probably quickest would be to open one with either of your current banks.

Wait for the debit card to arrive, and if necessary, activate it. Then you can switch.

I personally make sure the account to be switched has an odd balance and some use on it, even just a SO to another account in my name, but that's not really necessary, just my ultra cautious approach

skinnylove

I did exactly that last month with Natwest. Opened it, activated debit card, put £20 in it so the bank did have something to switch, and then started the switch process within a week, to Halifax. £125 later...

RossP91

Perfect! Thanks for the responses. I'll go ahead with opening a new account with one of my current banks and get it switched asap.

RossP91

Just thought I'd give an update on this.

All worked no problem.

Opened a new current account with my current bank, Nationwide.
Then opened a First Direct account and started the switch process over within a week of the Nationwide account opening.

All complete now and received my £125 bonus!

spiritus

How many current accounts can you have with one bank ?


I have one current account with Natwest plus a joint account plus an FR account.


Can I just apply for a new current account and get another debit card ? I didn't think this was possible.

No_6

yes ..........


6

ruudy

What sort of banks/accounts are good for this purpose? Something that perhaps doesn't have any strict conditions.

I currently have Santander 123 and Halifax Ultimate Reward.

badger09

spiritus wrote: »

How many current accounts can you have with one bank ?


I have one current account with Natwest plus a joint account plus an FR account.


Can I just apply for a new current account and get another debit card ? I didn't think this was possible.

As many as each bank's T&C say you can have :cool:

badger09

ruudy wrote: »

What sort of banks/accounts are good for this purpose? Something that perhaps doesn't have any strict conditions.

I currently have Santander 123 and Halifax Ultimate Reward.

Possibly an additional account with your existing bank(s).

It has been reported that RBS accounts are fairly straightforward, but it really depends on your individual circumstances, credit history, etc

ruudy

badger09 wrote: »

Possibly an additional account with your existing bank(s).

It has been reported that RBS accounts are fairly straightforward, but it really depends on your individual circumstances, credit history, etc

Is it easier to open one with an existing bank?

Do you know if they ever ask any questions as to why another is being opened?