Moving Banks Nightmare

HevJay

In October I moved from Lloyds Bank to TSB and they have been a nightmare. Their level of customer service is absolutely shocking so I want to move again, however I heard that this can damage your credit score. Is that true? If so, how long shall I wait until I move banks again please?

MDMD

Why not just set up a real current account somewhere else and use TSB as a savings vehicle.

I have only had to deal with staff members at First Direct and Halifax. First direct always very pleasant. Halifax give good compensation when they mess up (third time now, switching my 123 account a month before I asked)

It won't have much impact on credit records unless you are applying for something large like a mortgage. There is no such thing in the UK as a universal credit score. Each lender will score you on their own criteria.

HevJay

Thanks for your reply. I don't really want to have TSB as a savings account, I already have one with Nationwide and my ISA with Lloyds (my old bank) so I don't want a third one! I'll sort moving accounts in the new year. Thanks for you help

xylophone

I don't really want to have TSB as a savings account,

The TSB pays 5% on up to £2000 - why not leave £2000 in it, cycling in and out the required £500 a month?

This would not prevent your opening a current account elsewhere - you could even go back to Lloyds for the Club account......