am I allowed 2 current accounts in different banks

thoragunnr

I want to keep my natwest current account for bills only as I don't want to go through the hassle of switching everything over and becuase all my bills are on this account.

I wanted another current account to transfer spending money to another current account to use as personal spending money to help me track where my actual spending is going/to know i only have that amount to spend on myself in that month as well as to open savings account as the one i'm looking at offers more interest on the savings account compared to Natwest.

datlex

You are allowed as many accounts with as many banks as will accept you and that you can meet the requirements of. Many folk on here have multiple accounts across a number of banks to benefit from rewards.

colsten

It's a wise move to have at least 2 current accounts at two totally unrelated institutions, in case there's a problem with one of them.

Don80

thoragunnr wrote: »

I want to keep my natwest current account for bills only as I don't want to go through the hassle of switching everything over and becuase all my bills are on this account.

Yes you can have more than one account, and they don't have to be at the same bank. For example, some accounts reward you for paying bills by direct debit (Natwest has one, Santander and Halifax). You can switch your Natwest account easily - just open the new account and you ask to switch your account. It takes 7 days, everything is done for you - there is no hassle. Also, for 3 years any payments that should have come out of your old account are automatically paid from your new account.

thoragunnr wrote: »

I wanted another current account to transfer spending money to another current account to use as personal spending money to help me track where my actual spending is going/to know i only have that amount to spend on myself in that month as well as to open savings account as the one i'm looking at offers more interest on the savings account compared to Natwest.

This is exactly what I do. :T

I use the Bank of Scotland for this, they pay 2% interest and you get some cashback for using your debit card using your every day offers. I earned almost £4 last month. You need 2 direct debits set up, so I have 2 small ones, which comes to £15 a month.

bigadaj

Allowed............ it's a basic requirement of you want to hang around on this board.

[Deleted User]

thoragunnr wrote: »

I want to keep my natwest current account for bills only as I don't want to go through the hassle of switching everything over and becuase all my bills are on this account.

I wanted another current account to transfer spending money to another current account to use as personal spending money to help me track where my actual spending is going/to know i only have that amount to spend on myself in that month as well as to open savings account as the one i'm looking at offers more interest on the savings account compared to Natwest.

This can't be said often enough.... THERE IS NO HASSLE!

thecolonel62

anyone done a combo of M&S and San 123 acc,ive not thought this through fully but gut idea im thinking it might be easiest to switch my San 123 acc to M&S and then once done go and open a 123 acc again(for the interest benefits) any tips?

xylophone

Open another account with Santander.

Move or create 2 DDs (for M&S they must be active but need not pay monthly).

Switch that account to M&S.

https://bank.marksandspencer.com/current-accounts/mands-current-account/

Vet

yes absolutely. you can have as many as you need

Zero_Sum

I currently have 8 with 4 different banks. And possibly looking at a couple of others.

thecolonel62

im not married! are you sure i can open a second San 123 account in my position? thanks in advance