switching questions

makey1976

Hi i am going to switch a few of my accounts to get bonus payment.
but go few questions.
1. do i need to set up direct debts before or can i do it once account has switched.
2. once switched accounts is it possible to re open the account you switched from.
looking to switch
1 tsb to halifax
1 halifax - hbsc
1 tsb - first direct
looking to get bonus (halifax,hsbc,first direct) and 5% reg saver (hsbc,first direct).
is this possible
thanks as never switched accounts before.

[Deleted User]

makey1976 wrote: »

Hi i am going to switch a few of my accounts to get bonus payment.
but go few questions.
1. do i need to set up direct debts before or can i do it once account has switched.
2. once switched accounts is it possible to re open the account you switched from.
looking to switch
1 tsb to halifax
1 halifax - hbsc
1 tsb - first direct
looking to get bonus (halifax,hsbc,first direct) and 5% reg saver (hsbc,first direct).
is this possible
thanks as never switched accounts before.

(1) Check terms of the switching offer.
(2) No. Once switched, it's closed. But you could open a new current account with the bank you have switched from, to replace the switched from one.

20aday

Before you start your switch you can apply for a new current account online with the Halifax (and I assume TSB) when you log into Internet Banking.

Might be worth doing before going ahead.

Don80

Hi, just a general response, but do check with Halifax, you may not need to open a new account (which would save one credit check but you "lose" one account)
http://www.halifax.co.uk/bankaccounts/landing/bankaccounts-1/

As for the switch, you don't have to close the old account to switch, but all the T&Cs for bonuses I've seen do require you to close the old account as part of the switch. You cannot reopen an old account, but you can always apply for a new one. Or as 20aday said, probably easier to open a new one with the old bank before you switch away.

The other thing is check how many live direct debits, and pay in requirements you need to have when you switch to get the bonus.