Opening Current Account for Switching Bonus

darkidoe

Hi

Anyone has experience of opening a current account solely for the purpose of bagging switching bonuses? Which accounts are easiest to open and how long would you keep them open for prior to switching? Would switching a current account affect other savings account you might have with a provider?

Cheers:beer:

eskbanker

darkidoe wrote: »

Which accounts are easiest to open and how long would you keep them open for prior to switching?

Probably easiest to open another account with an institution you already bank with, as this is likely to minimise the risk of being asked to go through ID checks in branch, etc. No need to hold a donor account open for any length of time, just ensure that it's in a fit state to satisfy the Ts & Cs of the switching bonus, e.g. having DDs set up.

darkidoe wrote: »

Would switching a current account affect other savings account you might have with a provider?

No, unless there are any published dependencies between the accounts, e.g. you're only eligible to hold saving account A if you have current account B with the same bank, but in the context of opening a new account specifically for switching then no.