Top Bank Accounts Discussion Area

Phoenix_seven

Hi,
Can anyone help me please?
I want to switch my current account from HSBC (from whom I get nothing) to Santander (3%).
I also want to put other funds into other current accounts e.g. Halifax, TSB etc.
Having read about switching, it seems that Santander will switch everything to them and close my HSBC account.
I have 5 Direct Debits. I need to let Santander have 2 of these but I need to use the others to allow me to open new current accounts -- at Halifax for example..
Does anyone know how I can transfer these either direct from HSBC or later from Santander?

Steve_xx

Phoenix_seven wrote: »

Hi,
Can anyone help me please?
I want to switch my current account from HSBC (from whom I get nothing) to Santander (3%).
I also want to put other funds into other current accounts e.g. Halifax, TSB etc.
Having read about switching, it seems that Santander will switch everything to them and close my HSBC account.
I have 5 Direct Debits. I need to let Santander have 2 of these but I need to use the others to allow me to open new current accounts -- at Halifax for example..
Does anyone know how I can transfer these either direct from HSBC or later from Santander?

If you have a 123 account then you could possibly at a later point open one of Santander's Everday Current accounts and then transfer the DD mandates to that before using it as an account to switch out of.

polymaff

Phoenix_seven wrote: »

... I have 5 Direct Debits. I need to let Santander have 2 of these but I need to use the others to allow me to open new current accounts -- at Halifax for example..
Does anyone know how I can transfer these either direct from HSBC or later from Santander?

By contacting the operator of the DD - power company, ISP, Local Council or whatever - and giving them new account details. No need to contact any bank.

ceredigion

Phoenix_seven wrote: »

Hi,
Can anyone help me please?
I want to switch my current account from HSBC (from whom I get nothing) to Santander (3%).
I also want to put other funds into other current accounts e.g. Halifax, TSB etc.
Having read about switching, it seems that Santander will switch everything to them and close my HSBC account.
I have 5 Direct Debits. I need to let Santander have 2 of these but I need to use the others to allow me to open new current accounts -- at Halifax for example..
Does anyone know how I can transfer these either direct from HSBC or later from Santander?

But Santander don't have a bonus for switching, so why switch.
Open a San123 account, manually transfer the DD's you want there. Then switch the HSBC to Halifax for example

RoyCross

I've just had my online application for a First Direct joint account declined and been told I've to wait five working days for a letter explaining why. I work and receive a good salary; my wife is retired. Anyone else had the same experience?

grumbler

FD are known to be 'choosy'.
"I work and receive a good salary" is meaningless as many people with good salaries have huge debts or trashed credit history - and there are many other factors: Credit Scores.

Don't expect too much from their 'explanation'. It's likely to be an evasive formality.

badger09

RoyCross wrote: »

I've just had my online application for a First Direct joint account declined and been told I've to wait five working days for a letter explaining why. I work and receive a good salary; my wife is retired. Anyone else had the same experience?

Many people have been declined by First Direct (and by other banks).

Don't take it personally, but all you're likely to get by way of explanation, is that you 'don't fit their customer profile' or something equally helpful:o

They are not obliged to offer you an account, but many other banks probably will.

Are you on the Electoral Roll? Do you have any credit history? Any defaults or CCJs? Have you checked your records with the 3 CRAs recently?

bonesbones

Steve_xx wrote: »

There wouldn't be anything stopping you from doing that. However, First Direct have a rather attractive 6% Regular Saver account that you might want to have.

Regarding your credit rating: if it's pretty good anyway then the move wont affect it for any length of time, if at all. But, if it's not too cracky and/or you need a mortgage anytime soon, then maybe you would consider more carefully. Especially if say First Direct happened to have an attractive mortgage rate.

Thanks, but do you have info for the FD 6% account?

Unless i'm being blind, I can't seem to find it on their site.

grumbler

>> Regular Savings

ceredigion

bonesbones wrote: »

Thanks, but do you have info for the FD 6% account?

Unless i'm being blind, I can't seem to find it on their site.

http://www1.firstdirect.com/1/2/savings/regular-savings-account