Considering switching banks and am looking guidance

d45611

I live in Northern Ireland and have a current account with Bank of Ireland. I have had a few issues with them in the past that got resolved but am now considering switching to a more modern bank - one that at least offers Google Pay.

My current considerations are Barclays, Halifax or Nationwide.

I just need a current account and I never use overdrafts and never will. I will have at least £200 a month going into the account.

Any advice is appreciated.

Willing2Learn

Hi,

I use the Danske Cash Reward current account. It pays you cash £5/month (must have made £1,200/month deposit)

https://danskebank.co.uk/personal/products/current-accounts/cash-reward

PRAISETHESUN

I'd probably pick any of those banks with a branch local to you - there isn't much difference between Barclays, Halifax or Nationwide. Of those 3 I'd lean towards Nationwide FlexDirect account for their 5% interest on up to £2500 for the first 12 months, as well as access to their 5% regular saver, but if you don't have a large amount of existing savings to take advantage of it then it probably isn't worth opening an account since you'd be wasting the bonus as you can only ever have it once.

Otherwise the Danske Bank account above is a good one for NI residents - much easier to open when you live in NI compared to mainland UK.

d45611

Thanks guys. I'm leaning towards Nationwide at the minute but haven't made a definite decision.

Danske Bank is tempting but I wouldn't have £1200 a month going into my account. I would have some savings that I would be putting into the Nationwide account however.

PRAISETHESUN

d45611 wrote: »

Thanks guys. I'm leaning towards Nationwide at the minute but haven't made a definite decision.

Danske Bank is tempting but I wouldn't have £1200 a month going into my account. I would have some savings that I would be putting into the Nationwide account however.

The £1200 doesn't have to be from salary, or even put into your account all at once I don't think. If you had £300 spare, you could just set up a weekly standing order to pay into your account (it will fire off 4-5 times per month, transferring £1200-1600 every month) and then set up a matching standing order for the same day, or the next day even to send it back to where it came from.