Opened Current Account but dont need it, should I close instantly?

infernouk

So i was only half paying attention and opened a halifax current account for the cash back, then saw Id have to move and close everything I have with Santander to get the cash, not worth it.

So my question is, is there any negative impact on me if i close the halifax account right away as I dont need it? Was looking for something to separate my savings out into but it seems perhaps a nationwide account is better for that?

Cheers for the insight and assistance

YorkshireBoy

Open another current account with Santander.
Bung £20 in it.
Wait for the debit card.
Then switch it to Halifax.

Then open another current account with Santander.
Bung a little cash in it.
Move 2 of your DDs to it.
Wait for them to show.
Wait for the debit card.
Then switch it to Nationwide (via their refer-a-friend promotion).

binaryuniverse

Closing it immediately probably won't affect much, to answer your question directly. I've opened and closed quite a few current accounts, since February, and it hasn't affected my ability to get credit.

However, if you are looking to open a Nationwide Flexdirect account, then switching to that account, from your new Halifax account could pocket yourself an easy £100, if you use the Recommend a Friend option.

You will also need two direct debits, in your Halifax account, to take advantage of Nationwide's offer. You could change 2 of the direct debits in your Santander, over to Halifax OR open up 2 Tesco online savings accounts, which allow a direct debit of £1, to pay in to that account.

infernouk

YorkshireBoy wrote: »

Open another current account with Santander.
Bung £20 in it.
Wait for the debit card.
Then switch it to Halifax.

Then open another current account with Santander.
Bung a little cash in it.
Move 2 of your DDs to it.
Wait for them to show.
Wait for the debit card.
Then switch it to Nationwide (via their refer-a-friend promotion).

nice idea, but it seems the switch deadline is tonight for halifax so waiting for a santander account will push me over this deadline?

infernouk

binaryuniverse wrote: »

Closing it immediately probably won't affect much, to answer your question directly. I've opened and closed quite a few current accounts, since February, and it hasn't affected my ability to get credit.

However, if you are looking to open a Nationwide Flexdirect account, then switching to that account, from your new Halifax account could pocket yourself an easy £100, if you use the Recommend a Friend option.

You will also need two direct debits, in your Halifax account, to take advantage of Nationwide's offer. You could change 2 of the direct debits in your Santander, over to Halifax OR open up 2 Tesco online savings accounts, which allow a direct debit of £1, to pay in to that account.

cheers, so move 2 direct debits from santander to the new halifax, then refer a friend on myself to get to the nationwide and transfer the two to that? I actually dont really have any direct debits on my account, i have little to no credit / things to pay for. Is there a way to resolve that?

YorkshireBoy

infernouk wrote: »

nice idea, but it seems the switch deadline is tonight for halifax so waiting for a santander account will push me over this deadline?

Their website says it "reduces", not stops. Expect £75 or £100 from tomorrow. Still worth having?

YorkshireBoy

infernouk wrote: »

I actually dont really have any direct debits on my account, i have little to no credit / things to pay for. Is there a way to resolve that?

You're asking a question that's already been pre-empted and answered in the post you quoted. Did you read all of it?

surreysaver

infernouk wrote: »

cheers, so move 2 direct debits from santander to the new halifax, then refer a friend on myself to get to the nationwide and transfer the two to that? I actually dont really have any direct debits on my account, i have little to no credit / things to pay for. Is there a way to resolve that?

Open two Tesco savings accounts and set up £1.00 direct debits to them. You can have multiple direct debits funding each account.

infernouk

YorkshireBoy wrote: »

You're asking a question that's already been pre-empted and answered in the post you quoted. Did you read all of it?

it seems a lot to open another santander, and 2 tesco accounts as well as the nationwide and halifax accounts? then close all but 1? surely this will hurt my credit rating

YorkshireBoy

infernouk wrote: »

it seems a lot to open another santander, and 2 tesco accounts as well as the nationwide and halifax accounts? then close all but 1? surely this will hurt my credit rating

The Tesco accounts aren't current accounts, so no credit searches.


So long as you've no desperate need for credit in the next 3 months, or for a mortgage in the next 6 months, you've nothing to worry about.

binaryuniverse

infernouk wrote: »

cheers, so move 2 direct debits from santander to the new halifax, then refer a friend on myself to get to the nationwide and transfer the two to that? I actually dont really have any direct debits on my account, i have little to no credit / things to pay for. Is there a way to resolve that?

You need a friend that is already a Nationwide Flex account customer to recommend you. It's £100 for both you and the referrer.
I'd be happy to oblige, if you don't have one.

As I said, 2 Tesco accounts will cover 2 direct debits. And won't leave a mark on your credit file as they are just savings accounts. They really will take you about 15 mins each to open, if that.