Extra Accounts for switching

TheShape

I've switched a couple of current accounts for switching bonuses. I switched my long held (yeah, I know) but little used Natwest account to FD and set up a Flex account in addition to my Flex Direct and switched it to M&S.

I've since set-up a RBS account with the intention of switching it to HSBC but have not heard from them since making my application so I may switch that to Tesco for their Clubcard points incentive. I've also set up a Santander account (yesterday) to have another account for either switching or access to their Monthly Saver account.

My question is, would I be better off just setting up an additional account with Lloyds (already have a Club Lloyds) and an additional account with TSB (already have a Classic Plus)?

I can see that as a better option as it's one less organisation to deal with, one less set of internet login details to remember so as to check DDs are set up correctly.

Is setting up a new account with a new bank, then switching it straight out likely to affect a future application with them? Is setting up a new account with my current bank(s) then switching out likely to do any harm?

I think I'll go for the Halifax switch ASAP but it would be handy to have a couple of spare accounts ready for future switches.

darkidoe

I recently opened a Everyday Santander Current account (already have a 123 with them), aiming to switch away my 123 account and keep the everyday to maintain a Santander account for the Monthly saver. I think it is should be easier to open a new account with current provider to use as a switch rather than with a entirely new bank. They already know your details, have some history of yours to look at during application etc.

Tragen

personally i'd open donor accounts in the RBS group as I wouldnt care if they got "annoyed" at me switching accounts away.

A few people on here have had LBG accounts closed after switching an account away, although nothing conclusive. I'd rather not risk it.

TheShape

Tragen wrote: »

personally i'd open donor accounts in the RBS group as I wouldnt care if they got "annoyed" at me switching accounts away.

A few people on here have had LBG accounts closed after switching an account away, although nothing conclusive. I'd rather not risk it.

Ooops, jumped right in and opened both an extra Lloyds and TSB.

Might just prepare one of those for a switch to Halifax. Got Monthly savers with Lloyds and TSB and a TSB Credit Card so I hope that will help in keeping me with them.

Not sure I can be bothered to open any more elsewhere. I've opened 4 accounts this past weekend :eek: I need to take a break from account opening (apart from a Halifax).