Can I switch 3 bank accounts into 1

DavyJones61

I have 3 bank accounts, Bos Vantage, Halifax Reward and Santander 123.
All joint accounts with my wife.

My wife and I's 5 pensions go into the BoS Vantage account and DDs come out of the Reward account, 2 to keep getting the £2 reward and the rest from Santander to get the cashback.

However the amount of DDs I now have coming from the Santander 123 account no longer covers the £5 fee and the 2 I have coming out of the Reward account for the £2 are 1 for the lottery and 1 for a credit card I only ever spend £1 a month on to keep it going .

Same with the BoS account, 2 DDs from hardly used credit cards.

If I decide to switch to HSBC to get the £175 bonus will HSBC switch the DDs from the 3 accounts and my and my wife's pensions or will I have to switch our 5 pensions myself?

Or should I just get HSBC to switch and close the Santander 123 account?

[Deleted User]

Have you looked at the 123 Lite Account from Santander instead of the £5 one?

You can only switch one account at a time but I believe you should be able to switch them all gradually to the one HSBC account.

colsten

No problem switching several current accounts into a single one - as long as the name(s) on all the accounts are the same. All the DDs and SOs on all of the accounts will get moved to the single account. I have switched as many as 4 accounts concurrently into Santander. Whether HSBC can handle multiple concurrent switches into the same HSBC account, I don't know, you'd have to ask them.

On general points, be aware that HSBC are quite picky who they accept for their Advance account, and we've seen many reports that say they take ages over it. Also, having more than one current account, at different banks, is prudent, just in case there is a problem with one of the banks.

PRAISETHESUN

No reason why you can't switch several different current accounts into the same HSBC account - each separate account will have to be a separate switch, but other then that you shouldn't have any issues - all money in/out each of the individual accounts will be redirected to your HSBC account after the switch completes. The limiting factor may be HSBC's acceptance of you - as above they are known to be rather picky about who they accept.

badger09

I've switched several sole accounts into one, but over a period of time. Switching feels tidier to me, as in the event of random payments coming in later, they will automatically be forwarded.

As others have said, all DDs, SOs and payments in should switch automatically.

I'd also echo colsten's comments about HSBC being picky, and the wisdom of maintaining at least 2 current accounts with different banking groups.

Zero_Sum

Keep santander & downgrade to lite version

pinkdalek

Yes you can provided the accounts match (name/address etc), for example if one was joint to a sole it would not work, but yes technically you can switch all into one.