Can I have more than one account

Bluerover

Does anyone know can you have more than one bank account with the same bank I have a Co Op account and am considering opening a basic account with them. My main bank is LTSB. And think I would manage my money better if I had one account for direct debits one for food/living etc.

Thanks in advance for any replies.

System

There is nothing stopping you having more than one account.

We have 2 current accounts. The second one is used as a budget account where the majority of DDs are paid from.
I also have a joint account with my brother at the same bank.

Bluerover

Thanks very much.

realaledrinker

You would have to satisfy more stringent conditions for a 'normal' current account, of course

thebeak

There's no issue having 2 accounts with the same provider, e.g a current account and a seperate savings accounts.

However as far as I know you can only have 1 current account with each establishment, pls correct me if I'm wrong.

Milarky

thebeak wrote: »

There's no issue having 2 accounts with the same provider, e.g a current account and a seperate savings accounts.

However as far as I know you can only have 1 current account with each establishment, pls correct me if I'm wrong.

Yes you are wrong in practice at least. People have reported having two Flexaccounts in their names and I have two A&L current accounts. It's up to individual banks to set a policy in this area (and even then the odd extra application slips through unnoticed, methinks)

System

Both my accounts are Natwest current accounts

dzug

thebeak wrote: »

There's no issue having 2 accounts with the same provider, e.g a current account and a seperate savings accounts.

However as far as I know you can only have 1 current account with each establishment, pls correct me if I'm wrong.

You are wrong - some providers may make that provision but not all.

I've seen accounts designated 'household account', 'No 2 account' and the like.

Bluerover

Thanks all been to the Yorkshire Bank and applied to open a basic account, which I can run alongside my other accounts.
I am in the midst of rehauling my finances as I have had a drastic wake up call and discovered I did not even know how much was leaving my account let alone when and why...so I am getting a grip. Thanks

judderman62

thebeak wrote: »

There's no issue having 2 accounts with the same provider, e.g a current account and a seperate savings accounts.

However as far as I know you can only have 1 current account with each establishment, pls correct me if I'm wrong.

certainly for some establishments you are wrong - I have 3 current accounts with Nationwide, about 5 e accounts and an ISA.

though I am looking for a new bank.

tiamai_d

We have found it to be the best method of managing our finances.

Account 1, money goes into.

Account 2, money goes out of.

We know we need to put so much into the second account each week. We don't have to worry about what date such and such comes out and if there is enough. We are strict and KNOW there is enough. We never touch the money in that account. So far (touch wood) it has worked well, no charges on that account...

Can't say the same for the other....