Starling as main bank account?

BelpOggledon

Hi folks,



apologies firstly if this has been discussed already there is a wealth of information on this website and it is sometimes difficult for me to add and subtract the parts that I need/don't need.

I have recently, finally, balanced my RBS Student account and got rid of my overdraft whilst also opening a Starling account, as I liked the idea of the pots where you can save some money, or round up to the nearest pound etc etc.

My question is fairly simple, would it be a wise move to close down my RBS bank account and have Starling as my primary? Ultimately, I'm trying to become smarter with my finances and step into the world of a real grown up and any advice that I can pick up along the way would be absolutely fantastic.

The idea of app based banking appeals to me and it seems to be far more interactive than the RBS app in terms of just giving you basic information. I'm not sure if this would be considered factually correct, but it certainly feels that way to me.

Any advice like I say, or guidance or even just busting my chops if this is a stupid idea is appreciated!


Thanks,



Belp

eDicky

BelpOggledon wrote: »

would it be a wise move to close down my RBS bank account and have Starling as my primary?

No, it's unwise and unnecessary to limit yourself to one bank account. Use both in ways that suit you, and see how it goes...

And welcome to the forum.

gordonbennet

I agree. By all means make Starling you main account (I use mine a lot and like it very much) but keep the RBS open for the time being anyway, as long as there are no charges, and you have it to fall back on if starling doesn't suit you after all.

PRAISETHESUN

I echo the comments above about keeping your RBS account - it's good to have a backup option in the event that something happens to your access with your one and only bank account. Apart from that, if Starling appeals to you then there is no reason why you shouldn't give them a shot. They are a UK current account provider with full FSCS protection. Only downside really is the lack of physical branches, but their app is very straightforward in my experience and I've never had an issue getting in touch with them when needed.

colsten

It is also good from a credit worthiness point of view to keep your oldest account, even if it's in a dormant state. Lenders check for stability, and for your ability to manage credit. Having a longstanding current account w/o going overdrawn in it looks favourable.

sal_III

No problem in using Starling as a main current account both me and my wife have been doing that for about 2 years.

As above, you should always have access to at least 2 bank accounts. There are myriad of reasons why you might lose access to your bank account, you should always have backup.

At the very least don't just close the RBS account, use it as a donor account to get a switch incentive from another bank.

Polarpenguin

Another vote for keeping the RBS account open & use both while you figure out what works best for you.
Even if you decide to ditch the RBS use it to switch to another account as a back up account. Not having access to your money for whatever reason is a right pain . I would never again only have one current account.

penners324

Use the RBS account as a donor account for switch incentives, keeping Starling for actual usage...

BelpOggledon

Do you mind me asking what these reasons may be? I'm coming to the understanding that keeping my RBS account is probably the route I will go down (thanks everyone!) but more for my own knowledge going forwards.

Apologies if I sound stupid here, I am financially illiterate and am trying to remedy this.

Thank you!

BelpOggledon

Also, if I use the starling switch service, their customer service team have told me that it will automatically close down my old account.

Does this mean I will manually have to change my direct debits etc to my starling account to keep my old one open? That's a pain in the behind if so!

colsten

BelpOggledon wrote: »

Also, if I use the starling switch service, their customer service team have told me that it will automatically close down my old account.

Does this mean I will manually have to change my direct debits etc to my starling account to keep my old one open? That's a pain in the behind if so!

All the switches done with CASS, i.e. which come with a switch guarantee, will close your old account.

Changing DDs yourself is actually dead easy to do. Many payees allow you to do it online. Others do it on the phone. Very few, if any, need to sent a new DD mandate form. All you need to change is the sort code and account number. It's best done immediately after a DD has been paid, as the payees sometimes need a few days to update their systems.