Switch bank account without closing old account

matilda.cs

Hi,

We're looking to open a new account in which all our income will be paid, and regular DD's will be honoured.

The new account would ideally be with someone (coop) offering a lump sum to swap accounts; but I understand these require me close my old account.

We want to keep our current (Barclays) account open for our day-to-day spending.

What is our best option? Do we open a second account now with Barclays and switch to using that in the future? Can we re-open the Barclays account after Coop close it for us?

Seems a bit like the switch guarantee forces you to leave the old bank - but we don't want to do that (but we do want the switch benefit)

Thanks...

eskbanker

matilda.cs wrote: »

Seems a bit like the switch guarantee forces you to leave the old bank - but we don't want to do that (but we do want the switch benefit)

Yes, banks offering incentives are doing so on the basis that they're getting your banking from then on, so if you don't want to fully move in that way then you have to jump through some hoops to qualify.

Open a second account with Barclays, move your direct debits to it (the Co-op incentive requires at least four to be switched) and then switch that to Co-op, leaving your original Barclays account intact.