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  • It amazes me that so many people frantically race round every 5 minutes to switch their savings to the new kid on the block who is topping the interest charts ( for a few days usually). It is similar to those who switch current accounts every time there is a cash offer as an incentive. Re the former, I just haven't got the time or inclination, so I stick with 3 or 4 savings banks that are always consistently competitive ( though, to be fair, most of my assets are in properties and my shares portfolio);

    Re the latter, I think finding the best bank you find suitable for you and staying with it ( unless it has completely lost its original shine altogether ) is the most sensible thing to do, as well as being part of the old fashioned loyalty that the older generation know the meaning of; having a Premier Select Account also has some bearing for me personally but does not interfere with the view I take which is aimed at everyone.
  • I'm finding it takes more than the odd 20 minutes at this point in time. It's the busiest time of the year, a long Christmas break is almost on us, the post office and trains are on strike, many organisation are overwhelmed by account applications......it's not a good place to be. I have lots of problems with account opening.....here's a few examples:
    * Kent Reliance......ISA transfer out delayed.
    * Monmouthshire regular saver......held up
    * HSBC new current account/ regular saver......been waiting ages for details.

  • Stargunner
    Stargunner Posts: 998 Forumite
    Fifth Anniversary 500 Posts Name Dropper
    edited 18 December 2022 at 9:06AM
    I'm finding it takes more than the odd 20 minutes at this point in time. It's the busiest time of the year, a long Christmas break is almost on us, the post office and trains are on strike, many organisation are overwhelmed by account applications......it's not a good place to be. I have lots of problems with account opening.....here's a few examples:
    * Kent Reliance......ISA transfer out delayed.
    * Monmouthshire regular saver......held up
    * HSBC new current account/ regular saver......been waiting ages for details.

    On Thursday evening I opened a first direct account and switched an old Halifax account to them that I don’t use, to take advantage of the £175 switch offer. I also opened a regular saver with them to take advantage of the 7% interest rate. All was done within around 20 mins and both accounts are operational within their app. I found the process very easy and although there may be a delay in me receiving my debit card, it doesn’t matter as I won’t be using it. 
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