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Combining Accounts.
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SYHR
Posts: 45 Forumite
Hi,
Is it possible to switch several different accounts into one?
Ie, I have open accounts with Barclays and NatWest, could I switch these two accounts into my sole Lloyds account, or is it not possible to switch more than one?
Thanks.
Is it possible to switch several different accounts into one?
Ie, I have open accounts with Barclays and NatWest, could I switch these two accounts into my sole Lloyds account, or is it not possible to switch more than one?
Thanks.
0
Comments
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If you have multiple current accounts that you don't wish to retain, why not switch them into institutions that offer switching incentives and then close them down once you've received the bonuses?0
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Yes it is. I've done as many as 4 into one in the past...twice!
But, it'd be a shame to (potentially?) throw several £100s away by not following eskbanker's suggestion above.0 -
YorkshireBoy wrote: »Yes it is. I've done as many as 4 into one in the past...twice!
But, it'd be a shame to (potentially?) throw several £100s away by not following eskbanker's suggestion above.
Thanks for the comments guys!
The accounts are actually the result of me gaining switching bonuses!
Halifax, HSBC, Co-Op Bank and several others. They are the accounts I ended up with at the end of the switching chain, and now I'm done, I just wanted to switch them into my main bank account so I've not got them lingering in the background!
Thanks very much for the advice though :-)0 -
At least Halifax in that list could be paying you £5 (soon to drop to £3) every month reward. Make sure you're not missing out on other rewards before you switch/close.
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If you can't be the best -
Just be better than you were yesterday.0 -
Consider keeping at least two accounts from unrelated banks (so not for example Lloyds and Halifax) perhaps one with a VISA card and one with Mastercard. Banking systems have a habit of breaking down at unfortunate moments so best not to have all your eggs in one basket.0
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Looks like TSB now has a switching incentive through MSE. Perhaps one more switch!0
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