Donor accounts for switching

ericlered

Hello all,

I would like to take advantage of the switching bonus offered by First Direct (or others) but do not want to close my HSBC current account of over 20 years.

I also have Santander 123 / Nationwide Flexdirect and TSB Classic current accounts that are all serving a purpose so I don't want to switch from these either.

Any suggestions on good easy quick new current accounts to open that I can then use to switch from?

Is there anthing wrong with this idea?

Thanks

Katiehound

Just open a basic a/c from one of the banks with whom you have business already because then you will not have to jump through too many hoops!!
I opened a TSB classic online
Santander don't have switch deals do they? Maybe one from them (as well!)
It's never a bad thing to have a spare account waiting for a good deal to come along......

I do remember being asked how long I had had the a/c open- but guess they can't object. Mine had been open a year. If you want to switch quick do not order a debit card

ericlered

Thanks Katie,

Having not tried to do this before, I guess I'm just a little worried if there are any small print issues with accounts being open for a very small amount of time before being "switched"

Or that certain banks current accounts had restrictions in place making them a bad choice for the switching process.

Or if certain banks such as TSB or Santander will grill you if you're trying to open a 2nd current account with them.

Katiehound

Well as I remember I just opened the TSB Classic online without a huge hassle- it was very easy. It was my 3rd a/c
If asked you say something like you want to keep money in different accounts as a means of budgeting!!
I don't know about the time you hold the account because whenever I have switched I have held that account for at least a year. I can't see that it should be a problem what can they do? At worst close the a/c!!

these days people have multiple accounts- it's not that unusual.

ericlered

Thanks again, have just applied for a TSB Classic, took about 2 minutes.