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Switching Banks - any negative effects?

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So my wife and I have both banked with Lloyds for years. We have a Joint Platinum Club Lloyd's account which all household bills come out of, I have a free classic account with 2 DDs and wife has a Club Lloyd's account also with 2 DDs.

I was thinking of switching my account to perhaps First Direct or TSB but just wondered if switching as any negative effects. We are looking to move home in the near future so will be applying for a mortgage.

Any advice would be great.

Thanks

Comments

  • agrinnall
    agrinnall Posts: 23,344 Forumite
    10,000 Posts Combo Breaker
    Probably better to open a sacrificial current account and switch that to preserve your history at Lloyds, although definitely consider switching that after the mortgage has come through.
  • hufc, I would say do this:
    1) open a noddle account and see what the score is now
    2) do the switch and see what noddle says


    Best to spread out the switches and if you intend to do First Direct, be prepared to wait a month+ to get the account sorted, they work at a snail pace.
  • Robisere
    Robisere Posts: 3,237 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Combo Breaker
    I can only comment about the switch we made from NWide Flex to TSB Classic Plus.

    We made the switch physically at branch and it was a painless procedure, efficiently and courteously carried out. The benefit of doing that in branch, was being shown all aspects of the account and savings, etc., and talking face to face. Internet banking was set up later by us at home, after the switch went 'live' which happened within a week. All dd's were moved over by TSB.

    Now we have a local branch again, after NW killed theirs some years ago. It's banking like it used to be: any actions or problems that cannot be sorted online or by phone, are handled in branch.
    I think this job really needs
    a much bigger hammer.
  • Jo_Blogs
    Jo_Blogs Posts: 753 Forumite
    Debt-free and Proud! Mortgage-free Glee!
    edited 10 February 2017 at 8:27PM
    agrinnall wrote: »
    Probably better to open a sacrificial current account and switch that to preserve your history at Lloyds, although definitely consider switching that after the mortgage has come through.

    I definately agree with this :) - better to protect your banking history with Lloyds and open a new current account with Lloyds to use for any bank switch :).
    Saved Nitty Gritty £7440.75 [149%] / £5000-[Sep] £58.44:starmod: for the 'Save 12k in 2017' #157
    2017 Womble #35 £3463.27 ;)Sept NSDs 4/15:staradminCCCChl 9/12 months:D
    Sept PPChl#002 Pts 71
  • michaels
    michaels Posts: 29,085 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Clearscore gives more detail than noddle.

    It also suggests that providers look favourably on having at least one 'long term' (banking) relationship.
    I think....
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Jo_Blogs wrote: »
    better to protect your banking history with Lloyds and open a new current account with Lloyds to use for any bank switch :).
    Won't the "Joint Platinum Club Lloyd's account which all household bills come out of" do this?
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