Switching Barclays Bank Account to Monzo - can I keep Savings accounts?

monetxchange

Hello,

This may be a very stupid question, but Googling isn't throwing up much information. If I was to switch my current account fully from Barclays over to Monzo, could I still keep my Barclays Instant Saver and ISA accounts, or do they need a current account to link to?

Has anyone made the switch to fully using Monzo? I currently use it for day to day spending and savings pots for upcoming expenses and find the functionality brilliant. I believe I read it was secured up to £85,000, which is why I'd like to keep bigger savings accounts with Barclays too so my saved money is split up a little.

I'm frustrated with paying for a Barclays packaged bank account when the features aren't there. Am I right in thinking I don't have to pay for the packaged bank account as a requirement of keeping the account open? This is something that popped up this morning when I did a quick research. If so, I'm annoyed I've spent years paying for an expensive 'Tech Pack' and will be looking into making a claim - anyone had any luck with this too?

Thanks

penners324

Why keep the Barclays savings accounts when there are far better alternatives?
Why not just downgrade your account with Barclays to stop paying a fee? They do offer fee free accounts.

[Deleted User]

Just downgrade it to a normal account.

Why do you want to make a claim against the packaged part of it?

Or have you just been reading stories on MSE and thought you could do it just because?

monetxchange

Hi,

Thanks for the responses. It makes me sound incredibly stupid, but I have always thought it was a requirement of the account to pay a monthly charge (hence my mention of claiming). I think the Tech Pack got upgraded from an old graduate account, from memory. I'll look into moving to a fee-free account.

Flobberchops

The Barclays savings accounts you mentioned don't require a linked Current Account.


Barclays hasn't had packaged accounts for several years now. It sounds like you had an Additions account which was migrated to Current Account with Tech Pack (either with or without overdraft). You wouldn't be the first person to realise you've been paying for years for a service you didn't need but to be fair to Barclays, you would have received a letter before the migration explaining the coming changes and therefore acting as an opportunity to opt out of paying the monthly fee, a follow-up letter after the change, and then an annual eligibility statement summarising your account's features and fees and encouraging you to review your account to decide whether the features are still right for you. Unless for some reason you hadn't received any of these regular letters (for example your address wasn't updated after a move and it was the bank's fault) I don't think they will entertain giving you a refund backdated several years. You're welcome to try, though.

born_again

Quite clearly stated in the switch scheme that only CURRENT accounts are switched to your chosen new bank.
If you losing bank have any issues with accounts left with them, or a overdraft. They will contact you to advise actions needed to resolve.

PRAISETHESUN

You'll need to check the T&Cs for your savings accounts to be sure, but if you switch your current account using CASS only your current account will close, initially. Depending on the T&Cs, they may require you to maintain a Barclays current account to keep the savings accounts open - if they do and you close it, expect your savings account to also follow suit.

System

Change to the Barclays Bank Account and retain the account as a secondary account - never stick with a single current account provider.

[Deleted User]

Robbedbymonzo wrote: »

Please search the group on facebook 'monzo stole our money' so many horror stories about the way they are treating people. Please avoid this bank

No.
Stop spamming the forum

colsten

!!! wrote: »

No.
Stop spamming the forum

:SPAM: button time for Robbedbymonzo

monetxchange

Thanks for the responses, spam aside.

You’re right, it’s my fault I didn’t realise I didn’t need to pay for the account so won’t make a claim. Think I just got a bit carried away with annoyance at myself. They definitely gave me fair notice.

I’ll split the money between Barclays and Monzo for now, cancelling the tech pack and leaving Barclays as my current account for bills still. I’ll look into better savings accounts, but the two I have with Barclays are for my emergency fund and tax bill fund, so aren’t long term savers.

I’ll continue with general saving and day to day spending in Monzo. I’ve had a search on Monzo complaints and they seem very small in number and specific to a few people who’ve had account issues, so I remain confident about them for now.

Cheers all