Multiple Accounts with Same Bank Question

xlnc99

ahhhhh got it. i thought it was a bank term or computer software of some sort

EarthBoy

A Basic account IS a current account, so you've already got a current account, it just offers limited facilities. With many banks the only difference is the lack of an overdraft.

xlnc99

i believe that is somewhat true. But i have read a new rule is in place where basic accounts show up as basic accounts on your report instead of current accounts. Also no cheque book, overdraft, online offline bank cards etc etc. Quite a few disadvantages

EarthBoy

xlnc99 wrote: »

i believe that is somewhat true. But i have read a new rule is in place where basic accounts show up as basic accounts on your report instead of current accounts. Also no cheque book, overdraft, online offline bank cards etc etc. Quite a few disadvantages

Overdrafts are always subject to a full credit check, so there's no guarantee you'll get one even if the bank lets you have a standard current account, instead of a Basic account.

xlnc99

Well i have just got a current account approved but no overdraft. I logged on and its showing up as an additional account on my app. I may have jumped the gun as i called the bank and shut down my basic accounts ASAP. In hindsight may have been a bit pre mature as ive heard that banks can sometimes reverse their decision about new accounts a week or two after its open.

System

xlnc99 wrote: »

Well i have just got a current account approved but no overdraft. I logged on and its showing up as an additional account on my app. I may have jumped the gun as i called the bank and shut down my basic accounts ASAP. In hindsight may have been a bit pre mature as ive heard that banks can sometimes reverse their decision about new accounts a week or two after its open.

Why didn't you just make further enquiries about upgrading your basic account(s) - you'd have kept the same details and just got a new debit card.

xlnc99

i do have the same details, log in etc. So nothing has really changed including all my memo info etc when logging in. Just a new sort code and bank account number and debit card which im not fussed about as i never used this account when it was a basic before due it being the worst basic account ever. U could not use ur basic card for anything online and subscriptions etc. Its the worst basic account i have ever seen, prepaid bank accounts offer more facilities

northwalesd

xlnc99 wrote: »

Just a new sort code and bank account number and debit card which im not fussed about as i never used this account when it was a basic before due it being the worst basic account ever. U could not use ur basic card for anything online and subscriptions etc. Its the worst basic account i have ever seen, prepaid bank accounts offer more facilities

Why are you so coy about naming the provider of this 'rubbish' basic account? And if your new 'current' account is closed you appear to have lost nothiong other than a rubbish basic account that you didn't use anyway.