Current (Savings Accounts) - How long between applications?

ScoobyZ

Hi I'm looking to move some money from my ISA (1.6%), How long should I wait between opening multiple bank accounts?

I have open Llyods a week later a Tesco but that has been refferred with no instant decision.

I have a good credit rating and good history with both banks (Llyods BTL Mortgage) and Tesco credit card paid every month.

Next I want to get a Bank Of Scotland (or three) and another Tesco assuming I am agreed.

I already have a Nationwide / TSB from last year.

Thanks

ScoobyZ

Anyone recommend how often to apply between opening accounts?

jimjames

Same day?

It's a bit like asking how long a piece of string is. I've opened multiple accounts with no issues.

colsten

It takes 5-10 minutes to complete an online application for a current account. So you can manage some 6 - 12 accounts an hour.

Some banks/groups of banks might restrict you on how many accounts you can apply for in any given period of time and they will tell you so if you appear to keen.

The only other reasons for hesitating would be that you don't have a need for additional accounts, or that your book keeping is at risk of getting out of control.

I speak from having over two dozen current accounts myself, and I often opened several within half an hour.

ScoobyZ

Ok thanks. Will open up a couple at a time. I thought it might best best to wait a few days between each application but will try a few in a day.

ScoobyZ

Got my tesco approved. Just signed the forms and sent off.

Also got a bank of Scotland and put 5k in. Declined my second one though

https://forums.moneysavingexpert.com/discussion/5382358