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

infernouk

YorkshireBoy wrote: »

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.

Thanks, ive got 1 tesco account opened so just going through the process again.

So to reiterate:

2 tesco accounts with £1 in, debit the 2 accounts into a new santander account

Covert that santander account to the halifax account I opened initially

Refer the halifax account across to nationwide

Close the santander, halifax, tesco accounts

infernouk

Is there a recommended type of santander account to use as the temp account to convert for halifax?

YorkshireBoy

infernouk wrote: »

Thanks, ive got 1 tesco account opened so just going through the process again.

So to reiterate:

2 tesco accounts with £1 in, debit the 2 accounts into a new santander account

Covert that santander account to the halifax account I opened initially

Refer the halifax account across to nationwide

Close the santander, halifax, tesco accounts

No.


Halifax doesn't require DDs for the switching incentive, so no need to set them up on Santander first. Set them up on Halifax whilst you're waiting for Santander to open and send the debit card.


I think you misunderstand the DD operation. Maybe give it some more thought?

YorkshireBoy

infernouk wrote: »

Is there a recommended type of santander account to use as the temp account to convert for halifax?

You can pay a fee (for 123 or Lite), or you can open one without a fee, ie Everyday. Which one do you have now?

infernouk

YorkshireBoy wrote: »

No.


Halifax doesn't require DDs for the switching incentive, so no need to set them up on Santander first. Set them up on Halifax whilst you're waiting for Santander to open and send the debit card.


I think you misunderstand the DD operation. Maybe give it some more thought?

No worries, just getting a bit mixed up at the ammount of information.

So open 2 tesco, debit them into the halifax, open the santander, convert the santander to halifax for the bonus, by then i have the 2 tesco debits in the halifax and can convert it via refer a friend?

Does the timing of the debits from tesco accounts to halifax matter? or can i just do that now and close the tesco accounts?

infernouk

YorkshireBoy wrote: »

You can pay a fee (for 123 or Lite), or you can open one without a fee, ie Everyday. Which one do you have now?

Currently have a 123 graduate. I dont want one with a fee as i wont be using it and essentially am just creating it to convert to halifax.

binaryuniverse

infernouk wrote: »

No worries, just getting a bit mixed up at the ammount of information.

So open 2 tesco, debit them into the halifax, open the santander, convert the santander to halifax for the bonus, by then i have the 2 tesco debits in the halifax and can convert it via refer a friend?

Does the timing of the debits from tesco accounts to halifax matter? or can i just do that now and close the tesco accounts?

I think you're getting confused as to the direction of the debits (or just the terminology is wrong). You're not paying FROM Tesco TO Halifax. It's the way round. You pay the Tesco savings accounts FROM the Halifax account.

However, as so not to muddle the situation. As you have no mentioned you wish to close down the Santander account (or do you? Even I'm getting confused now), I would not bother with Halifax for now. Do the switch from Santander straight to Nationwide. If you really have no direct debits on Santander, then you'd still need to open 2 Tesco accounts, paid in to from Santander.

But, if all this is getting overly complicated, then don't worry about it. You can still switch your Santander account to Nationwide. Just you won't get the bonus money.

infernouk

binaryuniverse wrote: »

I think you're getting confused as to the direction of the debits (or just the terminology is wrong). You're not paying FROM Tesco TO Halifax. It's the way round. You pay the Tesco savings accounts FROM the Halifax account.

However, as so not to muddle the situation. As you have no mentioned you wish to close down the Santander account (or do you? Even I'm getting confused now), I would not bother with Halifax for now. Do the switch from Santander straight to Nationwide. If you really have no direct debits on Santander, then you'd still need to open 2 Tesco accounts, paid in to from Santander.

But, if all this is getting overly complicated, then don't worry about it. You can still switch your Santander account to Nationwide. Just you won't get the bonus money.

thatll be the mix up! the direction of the debits, so i need to put some money into the halifax and push it to the tesco accounts once, then i can convert it to nationwide

essentially i have 1 main santander account I want to keep.

I have opened a second new santander account, i will transfer this one to halifax.

Then i have the halifax account i will transfer to nationwide.

So i need to pay TO the 2 tesco accounts from the new halifax, but not the new santander which can just convert to halifax as is

YorkshireBoy

infernouk wrote: »

So i need to pay TO the 2 tesco accounts from the new halifax, but not the new santander which can just convert to halifax as is

Correct....

infernouk

YorkshireBoy wrote: »

Correct....

Great so its all in place, i just need to wait for the santander debit card number so i can convert it to halifax for that bonus (whatever it ends up being after tomorrow), and wait for the activation for the halifax online banking so i can make the 2 DD to the tesco accounts before doing the nationwide conversion part!

Think i get it all now!