How many current accounts?

littlej0hn

With all the benefits of switching around at the moment I see a lot of people have multiple accounts.

How many have you guys got? and what total return are you getting p/m 7 p/a?

I have only ever had the one bank account (a Santander current account not 123 as the Mrs pays the bills that get cashback) until yesterday when I applied for the TSB classic paying 5% interest on £2K and also a NatWest reward account paying 3% on household direct debits.

So I've now tripled my current account haul and am wondering to what effect it may have on my credit score if I was to have even more? I am reluctant to switch my Santander current account at the moment as I have a decent overdraft which I rarely enter (so good for credit score) and I don't currently have any issues with Santander.

I know I could be missing out on a few hundred by not switching it, but by opening the other two accounts it will give me the flexibility to switch those. If I was to switch my main account would I be likely to get offered a similar overdraft I currently have as the other two accounts only offered my less than half?

New to this but 2016 is all about getting super organised with the finances!

Archi_Bald

If you read about a bit on this forum, you will find multiple answers to literally all your questions, plus answers to questions you haven't yet thought of.

NectarCollector

I have 3 atm, and 4 more current accounts in the process of being opened + 1 help to buy ISA. With the intention of switching my main 'master' account in 3 weeks time for £100 switching bonus.

When all my accounts are open and active, I expect to be netting around £35-£45 in interest per month. ( I could work this out a bit more accurately if I wanted to) As well as £105 cashback from topcashback for opening 1 account and £100 for switching another.

zolablue25

I've got 5 now having just opened a TSB Classic Plus account. The original 4 are all joint accounts but the TSB is a sole one.

Dan83

Currently I have
2 Halifax
2 lloyds
1 tesco
1 nationwide
1 TSB

I've never really had a problem getting credit, I also have 3 credit cards and a mortgage

joe_mcclaine

2 TSB
1 Nationwide
2 Tesco
2 BOS
1 HBOS
1 Santander
1 NatWest
1 HSBC
1 Lloyds

I don't know if it's affected my credit score, as I've never applied for or have any credit.

puwer98

4 TSB 2 in wife name 2 in mine ( we opened them when you could have 2 currant each it is now 1)
1 Halifax
1 YB

I will not be moving the TSB as it pays 5% on up to 2K plus 5% on deposit plus 5% CB on first £100 on contactless on 2 accounts. I may also keep Halifax as it gives £5 every month if in credit

wilsooon

I'm slightly confused, I'd always assumed I could only have one current a/c? I'm very limited in my switching options as I only get ESA and Housing Benefit, but I would like to be able to keep the HBen in a separate a/c so I know I won't inadvertently spend it!

I always assumed that the new bank would expect me to close the old a/c - I know that M & S did for the £100 offer. Can anyone advise how I can set up the second a/c?

puwer98

just open one on line easy or go in branch

colsten

You can open as many current accounts as you like, and that you get accepted for. No bank will force you to close your existing account because you open a 2nd/3rd/4th etc one.

You won't get a switching bonus unless you - - switch an existing account.

wilsooon

:T Many thanks, I'd no idea it was that straightforward! Guess I'd better start researching bank a/c's!!