Can I switch an old. unused bank account?

KieranMac

Hey,

I have a Student Bank Account with Halifax, which has £50 in but has not been used for more than 3 years. It was my current account, but I set up an account with Santander and just left the old account open.

Can I use this old Halifax account to switch to one of the banks offering £100?

Cheers

BoGoF

You could but will need check and see if new bank needs active direct debits as part of switch and most have minimum monthly pay ins.

radoslaff

You can easily switch to FD or M&S as they don't require DDs. I would go for FD (via MSE link of course) because with them you are not restricted where to spend the incentive.

Katiehound

I think that both of those - M&S and FD will require £1k pay in per month. It is a good idea to 'groom' the account ready for switching by doing a trial pay in and pay out especially if you are setting up SOs.
I am assuming you won't want to leave £1k resting there!!

If you want to earn some interest there are several other accounts but they all require x 2 DDs per month.

Kim_13

This article outlines the top accounts available and the requirements to obtain the various incentives: https://www.moneysavingexpert.com/banking/compare-best-bank-accounts#bonus

About-time

I've just done exactly this to get the £250 from Yorkshire bank.


Halifax account, opened twenty years ago as I worked for them and it was a condition of my employment that my wages were paid into a Halifax account. Untouched since the mid-00s, I didn't even have a current debit card for it. But the switch seems to have gone through fine. So I would say yes, based on my experience, as long as you fulfil all the pay-in, DD requirements etc