How long before I can switch current accounts again?

The_Boss

Hi all,

I switched to the Co-Operative Bank in August last year after 4.5 years with my Halifax rewards account. At what point could I switch again to another current account, both in terms of fulfilling any obligations to Co-Op and also in terms of passing any application scoring process? I've got my eyes on the M&S account as a final move if still available in late February before sticking with that for at least two years. (I've had incentives from First Direct in 2010, Santander in 2011 and Halifax in 2012 so believe I don't qualify for any of these rewards accounts).

bigadaj

There's no minimum time period unless specifically detailed, but it's a good idea to maintain at least one long term current account with a single provider as this shows stability and means you can confirm this on credit applications.

There is of course no problem with having multiple current accounts for both switching and interest, incentives etc

johnac

Not what you asked but if you value a mobile banking app don't switch to M&S for your main account. The app is very basic, you can only check your balance.. nothing else.

Their online banking is ok.

If you value trees don't signup, lots of paper will arrive at your door.

d70cw6

9.3 days iirc

The_Boss

johnac wrote: »

Not what you asked but if you value a mobile banking app don't switch to M&S for your main account. The app is very basic, you can only check your balance.. nothing else.

Their online banking is ok.

If you value trees don't signup, lots of paper will arrive at your door.

Good advice, thanks.

The_Boss

bigadaj wrote: »

There's no minimum time period unless specifically detailed, but it's a good idea to maintain at least one long term current account with a single provider as this shows stability and means you can confirm this on credit applications.

There is of course no problem with having multiple current accounts for both switching and interest, incentives etc

Yeah agreed. I have another current account with NatWest that I've had since 1996 - it's so old it doesn't even appear on my credit files though

bigadaj

d70cw6 wrote: »

9.3 days iirc

Plus inflation.

The_Boss

I'm still waiting for my topcashback payment for this account. The amount due is £50.40 and it is showing as confirmed. The date was 26/07/2016 and the estimated payable date was 29 weeks (which I estimate will be around 20 February, although as we know this could be a fair bit longer).

If I switch before the payment is made to me, can it be fully cancelled so that I never receive it even though it is confirmed?