Switch bank accounts

geoffbott

Hi
I have a Santander 123 bank account & am thinking of taking up the National West £150 offer to switch to them. Once the switch is completed, does anyone know whether there are any restrictions to opening another Santander 123 account so that I then have 2 current accounts, both giving monthly cashback etc as long as both accounts meet the full criteria.
Thanks in advance
Geoff

badger09

geoffbott wrote: »

Hi
I have a Santander 123 bank account & am thinking of taking up the National West £150 offer to switch to them. Once the switch is completed, does anyone know whether there are any restrictions to opening another Santander 123 account so that I then have 2 current accounts, both giving monthly cashback etc as long as both accounts meet the full criteria.
Thanks in advance
Geoff

In theory, there is nothing to stop you doing that.

Santander can, however, decide whether they want you as a customer or not - ie don't assume you have an automatic right to open another account.

Have you considered the Santander 123 Lite account? Same cashback terms but only £1 per month fee.

geoffbott

Thanks for advice. I'll look into it. Cheers

eDicky

Instead of switching your 123 account you could open a Santander Everyday account in addition, quick and easy online, then switch that instead. I've done this a couple of times already for switching incentives.

Zero_Sum

Why?
The cash back is very similar but you'd be paying 2 lots of fees, so would be worse off (unless you have a santander mortgage or phone & Sky bills are massive)