Current account switch when splitting with wife

mikec1986

Good Afternoon and please accept my apologies if this has been asked before.

I am beginning proceedings to divorce from my wife over the next couple of weeks and will be opening a new bank account in my name only for when I leave our home. I am wanting to make use of the current account switch bonus that first direct are offering but all indications note that you have to close down this account in order to do this, does anyone know if the old account has to be closed as we are ideally keeping this account open but in my wife's name only.

Thank you in advance for your help.

Michael.

SuperHan

If you have a joint account you will have to switch this to a joint account, and then the account will be closed.

It's not possible to switch from joint to sole account, or to keep the old account open if the new switch guarantee scheme is being used.

It is entirely possible to open a new account with a non-bonus offering bank, switch your direct debits over and then switch this account to its ultimate destination and get a bonus by doing that.

grumbler

You can get cashback for opening a new account, e.g. TCB £52 for Co-op, but all switching incentives require using switching service that resultls in a closure of the original account.

That said, nothing stops you from opening a sole account with the same bank and then switching it.