Better to switch a current account I no longer need than to close it directly?

Yorkshire_Pud

I have a current account I want to close.

I don't have an account offering an incentive to switch it to but wonder if regardless it is better to switch the unwanted account to one I already have rather than inform the bank directly that I wish to close the account?

The nub being I want to create the least 'impact' on my credibility as a customer with the banks I am a customer of.

colsten

what is the urgency?

YorkshireBoy

When I was left with a glut of YB accounts earlier this year I took the easy step of switching some of them to get them closed.

You say there's none to switch to. What about HSBC, launched just this week? And how long since your last Nationwide RAF incentive?

Yorkshire_Pud

colsten wrote: »

what is the urgency?

I have four Nationwide FlexAccounts and need to get rid of one to make room for a new fourth one:)

YorkshireBoy

Yorkshire_Pud wrote: »

I have four Nationwide FlexAccounts and need to get rid of one to make room for a new fourth one:)

When I was in that position a while ago (when they caught on to my having 3 FlexDirects all paying 5%) I simply closed 2 of them directly with Nationwide.

It appears to have had no detrimental effect on my relationship with them, having had more FlexDirect accounts since, several RAF incentives, and also being allowed to keep a very high limit, yet largely unused, Select credit card.

colsten

Yorkshire_Pud wrote: »

I have four Nationwide FlexAccounts and need to get rid of one to make room for a new fourth one:)

Get rid of one why?

Yorkshire_Pud

YorkshireBoy wrote: »

When I was left with a glut of YB accounts earlier this year I took the easy step of switching some of them to get them closed.

You say there's none to switch to. What about HSBC, launched just this week? And how long since your last Nationwide RAF incentive?

I already have an HSBC account so not eligible.

I referred a friend (Nationwide) and he's now referring me, my first time being referred but not my first Nationwide current account. Don't know if it will work but that's why I need to get rid of one account. Just wondered if banks 'like' you using their switch service for the sake of it for their stats and if doing so ruffles less feathers than phoning up my BSoc and saying I want to close an account then opening a new one:cool:

Yorkshire_Pud

colsten wrote: »

Get rid of one why?

Four is the max Nationwide allow of Flex current accounts.

YorkshireBoy

Yorkshire_Pud wrote: »

I already have an HSBC account so not eligible.

When making my post I couldn't remember if, like me, you were declined Advance last summer and so abandoned the process.

my first time being referred

You've missed out on a lot of free money there. And it's a lot tougher now with only one a year allowed.

colsten

Yorkshire_Pud wrote: »

I have four Nationwide FlexAccounts and need to get rid of one to make room for a new fourth one:)

what sorts of FlexAccountsdo you have? Which one of them do you want to get rid of, and why?