Minimum time to have current accoutn before switching?

A_DMP_Vetereran

Hi all,

I switched my TSB current account into Natwest a couple of weeks ago to take advantage of the £125 + £50 switcher incentive.

Anyhow - I have no idea why but they have opened 2 accounts for me... I now have 2 select accounts - one of which has my balance etc from my previous bank and the other is just there doing nothing. Got a debit card for it and everything!

I've been having a look and can see that First Direct have a good deal on.

Is it inappropriate for me to take advantage of their screw up and switch my "pointless" account into First Direct for some extra £? Is there a minimum time I should wait? The account has only been open for week...however if I dont do this I'll just be closing it anyway

Thanks in advance

[Deleted User]

You can switch it any time.

Or if you want NatWest to remove it you could ask them to close it and remove any associated credit file entries for it

A_DMP_Vetereran

Thanks Gary,

To be honest my credit profile is shot at anyway (it's all in my username) so I'm more tempted to take the approach that gets me the money at this point rather than worrying about the credit profile having a hard search.

Good to know there isn't some sort of rule though - their screw up is £200 in my pocket it seems!

Zero_Sum

You can just open a 2nd basic current account with whoever just to use to get a switching bonus.

Btw its always a good thing to have a backup account with a different bank anyway as a just in case.

18cc

Just one point if I were you I would make sure I transfer a little bit of money into the account so that there is something to switch i.e. don't switch zero balance

Zero_Sum

18cc wrote: »

Just one point if I were you I would make sure I transfer a little bit of money into the account so that there is something to switch i.e. don't switch zero balance

Why not?
I switched a zero balance to Nat West & got my switch bonus.

A_DMP_Vetereran

I got declined for it anyway - probably too soon after my DMP and they seem to want to give you an overdraft as part of the package.

Nevermind!

Cheers guys

18cc

FD are very very picky so don't take it to heart!

Look out for another switching deal.

Zero_Sum

Could always try M&S as they have a switching offer although its m&s vouchers rather than cold hard cash. But they also have a 5% reg saver. Both m&s and FD are part of HSBC so dunno if they have same checks resulting you being declined again.

A_DMP_Vetereran

Aye I'm not too put off to be honest least I have the 2nd NatWest account now and can wait on another good deal to come up

I'm not too keen on the M&S deal tbh. I dont usually shop in M&S so the gift card is just forcing me to spend in there if I get one