Should you close old bank accounts ?

[Deleted User]

mt99 wrote: »

Yes I would definatly leave them open.

1. you never know when the bank will come up with a product you want - easier to apply if you already have an account with them.

2. even more important, you never know when your current bank will block access due to some perceived 'money laundering' or other problem - always wise to have a couple of spares.

Only caveat is don't keep any current accounts open which you aren't using (or getting a benefit out of) and which are charging you a monthly fee. Maybe too obvious to state, so apologies if I'm stating the obvious.

Vortigern

Lloyd90 wrote: »

My partner is currently with Nationwide, so if she is to recommend me to switch one of my current accounts over to them we both get £100 ?

Yes, that will work. Then you can return the favour and refer her. If she then switches another account to NWide, you'll each get another £100.

are there criteria to meet for this or is it a simple switch ?

Not too onerous. Read the terms for refer-a-friend on Nationwide's website .

Lloyd90

Heng_Leng wrote: »

You could ask Halifax to convert your old credit card to Clarity (for holidays etc)

I would personally transfer the Lloyd's account to Halifax for the £100 then transfer Halifax to Nationwide (RAF).

I already have a Halifax account, how can I transfer ?
Both my Halifax and Lloyd's accounts are essentially unused.

YorkshireBoy

Lloyd90 wrote: »

I already have a Halifax account, how can I transfer ?

You go to the Halifax website and read the switching incentive T&Cs, where you'll see it's open to existing account holders (subject to not having had an incentive payment since 2012) and doesn't specify any SOs/DDs are switched. In essence, they'll simply close your Lloyds account and pay you £100 to let them do so! Suggest you pop a couple of quid into Lloyds first though, so it doesn't look like you're completely taking the mick!

Lloyd90

YorkshireBoy wrote: »

You go to the Halifax website and read the switching incentive T&Cs, where you'll see it's open to existing account holders (subject to not having had an incentive payment since 2012) and doesn't specify any SOs/DDs are switched. In essence, they'll simply close your Lloyds account and pay you £100 to let them do so! Suggest you pop a couple of quid into Lloyds first though, so it doesn't look like you're completely taking the mick!

Thank you very helpful

The nationwide switch requires you to have atleast 2 DD coming out of the account in order to get the £100

Katiehound

Answer to your question- a resounding 'NO!' Always useful for the switch bonus

Just to point out that if you want to get the monthly £5 (soon to be £3!) at Halifax there is a minimum monthly pay in of £750 and 2 x DDs going out per month to qualify.
If you only want to get the switch cash then obviously you don't need the above.