Accoutn switching query

pete_l

Hi
I have my main bank account with Barclays (where salary is paid) but I also have a second current account with them that I use to use for paying bills from. However now that I also have a Santander 123 account that I use for paying bills I don't really need the 2nd account with Barclays.


If I were to use the 2nd Barclays account (it still has a couple of active direct debits) to switch to a new provider such as Yorkshire Bank to take advantage of their switching bonus, would the switching process only close the 2nd account or would it close both Barclays accounts I have?


Thanks
Pete

eskbanker

The switching process only switches (and therefore closes) one account, any others with the same institution are unaffected, unless eligibility for one account is dependent on holding another (unlikely for two current accounts, this is normally only an issue for regular savers, etc).

Maximum_Saving

I think that the switching would only close the one account that you wish for. The Santander 12 3 account is a very good idea for someone with a very large balance. It has a fee of £5.00 a month which went up this January from £2.00. Therefore it is not worth it for a low balance.

I used to have a current account with Lloyds and then switched it to First Direct. I got a £125 hello and then opened one of their regular saving accounts.

amyjaj

It would only close the one account. I've just moved my Barclays basic bank account to Lloyds basic bank account. I have kept my current account with Barclays.

Katiehound

Switching only closes the account specified by you.

Certainly don't close your second a/c, send it off to receive goodies from another bank!! Always handy to have a 'derelict' account to move onwards.

pete_l

Katiehound wrote: »

Switching only closes the account specified by you.

Certainly don't close your second a/c, send it off to receive goodies from another bank!! Always handy to have a 'derelict' account to move onwards.

Yes, that's what I've unintentionally ended up with. Might as well make some money from it!