The One Account closing, need new one.

Magsy99

Hello. Ive been told my acct will be closed next year when the charge on the mortgage ends (although its already paid up), I believe because the One Account has been closed for some years to new customers.

My dilemma is will it be easy to switch to another bank, also the timing of it shall I do it well before the account closes? Or would it be better to switch at the end? Its part of RBS.
Our credit rating may be low as we havnt owed anything for years, will this go against us with other banks?
A bit upset at this as I like the account and have had no problems with them but I suppose they have to shut down properly at some point. I wonder how many customers they still have left.
Thanks for any pointers and info.

Magsy

[Deleted User]

You don't have a credit rating so ignore that

Apply for one whenever you want and use the CASS service to switch everything over

eskbanker

!!! wrote: »

Apply for one whenever you want and use the CASS service to switch everything over

I don't believe a One Account can be switched via CASS as it's not technically a standard current account, as per https://forums.moneysavingexpert.com/discussion/5179311/switching-the-one-account-to-halifax

Edit: seems it is possible, according to subsequent post below

Magsy99

Ok I see.
Maybe I'll give them a ring and see what the options are.

Thanks for the info, very helpful.

System

eskbanker wrote: »

I don't believe a One Account can be switched via CASS as it's not technically a standard current account, as per https://forums.moneysavingexpert.com/discussion/5179311/switching-the-one-account-to-halifax

Halifax had no issue - it becomes a current account / chargecard without overdraft once the mortgage element is dissolved.

It's just an English RBS sort code 16-60-5X

eskbanker

Heng_Leng wrote: »

eskbanker wrote: »

I don't believe a One Account can be switched via CASS as it's not technically a standard current account, as per https://forums.moneysavingexpert.com/discussion/5179311/switching-the-one-account-to-halifax

Halifax had no issue - it becomes a current account / chargecard without overdraft once the mortgage element is dissolved.

It's just an English RBS sort code 16-60-5X

Are you saying you successfully switched a One Account to Halifax using CASS?

Happy to be corrected if this is possible but have seen multiple references on here to it not being possible when attempted with switching to other banks, such as these two from last year....

FD: https://forums.moneysavingexpert.com/discussion/comment/72194943#Comment_72194943

TSB: https://forums.moneysavingexpert.com/discussion/5745901/tsb-refusing-to-pay-130-switching-bonus

It seems difficult to locate definitive published proof one way or the other though, but actions do speak louder than words!

andi2

I def couldn't switch my One Account (I did try).



First Direct paid me the switching bonus anyway (which was very nice of them).

andi2

Although I will qualify that statement with the fact that mine still has 11 years to run (although it's paid up).



I wonder if it makes a difference if the facility has dropped to zero?



& Halifax wouldn't even accept the account number/sort code on the application (First Direct did, which is why they agreed to pay the switching bonus anyway).

System

eskbanker wrote: »

Are you saying you successfully switched a One Account to Halifax using CASS?

Happy to be corrected if this is possible but have seen multiple references on here to it not being possible when attempted with switching to other banks, such as these two from last year....

FD: https://forums.moneysavingexpert.com/discussion/comment/72194943#Comment_72194943

TSB: https://forums.moneysavingexpert.com/discussion/5745901/tsb-refusing-to-pay-130-switching-bonus

It seems difficult to locate definitive published proof one way or the other though, but actions do speak louder than words!

Yes, I personally switched (using CASS) once the mortgage element was dissolved.

Magsy99

Just to finish this thread.

I had to switch everything over manually, a pain but managed it.