If i have more then one bank account is bad for credit score ?

Daniel87

I have a basic account from santander which is ok but i don't have contactless card or payments using my phone.
I am looking to make another account at hsbc to get their contactless card to use it for shopping because is free with zero taxes if i use it only for payments

Is it a bad idea what i want, do you recommend something else?

[Deleted User]

It's always wise to have more than one bank account.

bradders1983

Also a credit score is meaningless.  This really should be a sticky at the top of this section as everyone seems to be obsessed by what it says.

D3xt3r5L4b

If you only have a basic account you may struggle to get a fully fledged current account especially with HSBC who are notoriously picky with who they have as customers. 

GibbsRule_No3.

Thank you for asking this question. Until now my basic Co Op account card that is non contactless has been used via Apple Pay on my phone with face recognition. Of course now with mask wearing I have a problem, even with a clear face visor, it does not recognise me at the till.  So I was thinking either banks who offer basic accounts would need to do something or I will need to change accounts. Is the HSBC that you mention a basic account or not? Shame as I actually like the basic Co Op account.

Daniel87

Deleted_User said:

It's always wise to have more than one bank account.

i have only one job ,so only one source of income, i am thinking to transfer each week a part of money from santander ( where i get the salary) to hsbc (only for spendings using the contactless card) but if i am doing this regulary they don't earn a pence from me , so i don't know if santander or hsbc will have a problem with that

jimbo26

No they won't have a problem with this

bigadaj

Daniel87 said:

Deleted_User said:

It's always wise to have more than one bank account.

i have only one job ,so only one source of income, i am thinking to transfer each week a part of money from santander ( where i get the salary) to hsbc (only for spendings using the contactless card) but if i am doing this regulary they don't earn a pence from me , so i don't know if santander or hsbc will have a problem with that

I always try and ensure that banks don't make money out of me and it hasn't affected me adversely. 

adamp87

I think HSBC has stopped new current Account members at least that’s what my overdraft fee update email said. Just basic bank accounts/premier are still available 

D3xt3r5L4b

adamp87 said:

I think HSBC has stopped new current Account members at least that’s what my overdraft fee update email said. Just basic bank accounts/premier are still available 

Still being offered on the website 

Neil49

If you just want a basic bank account for contactless card shopping etc and have a smartphone then I would recommend either Monzo or Starling banks. They are totally Internet based operations and transactions appear on your phone instantly. 

I use my Monzo contactless debit card for all my day to day use and top up the account by transferring funds from my Lloyds bank account as required. It's also set up as my Google pay account although I haven't used it yet.

It is also excellent when used overseas (should we ever get back there again!) as they use the best exchange rates going.