Getting rid of old current accounts no longer used. Switch or just close?

Yorkshire_Pud

Have a few redundant VM current accounts. One benefit of a switch is any activity post dating closure can be dealt with by a new provider.
My experience of simply phoning to close an account has often been that after agreeing closure they don’t action it!

In the past I switched to Barclays and Nationwide I think to get rid of a few accounts but no longer with Barclays and can’t find any facility in my internet banking in Santander, Nationwide, or tsb.

Only option seems to be to open a new current account and switch as part of that process which I don’t want to do. Lloyds is a long winded form external to being logged in, can’t see a way to do it within my internet banking.

Any clue what to do!?

I don’t need any donor accounts!

northwalesd

Yorkshire_Pud said:

Lloyds is a long winded form external to being logged in, can’t see a way to do it within my internet banking.

Any clue what to do!?

I don’t need any donor accounts!

I am assuming from the above that you do have at least one Lloyds current account. From the app select Apply from the menu bar, expand Current accounts and there is an option to switch into an existing account there.

Daliah

I am keeping most of mine for switching for now, in the vain hope that I will qualify for one of the future switching offers. It's a double-edged sword though - by keeping them, I might be disqualified from switching offers because I am an existing account holder.

Also, you might get excluded from re-applying for a period of time. E.g. Monzo and Starling apparently won't let you apply again within 12 months. I also just experienced this with Barclays, having switched out because I genuinely didn't need the account any longer. Now they have announced a lovely 5% savings account for their current account holders, I went and applied for a current account. No such luck, application rejected before I even got as far as the credit file search.

Yorkshire_Pud

Daliah said:

I am keeping most of mine for switching for now, in the vain hope that I will qualify for one of the future switching offers

Good idea. I’ve got too many so can afford to shed many and still have as many as I should need if and when an offer comes up again.

Yorkshire_Pud

northwalesd said:

Yorkshire_Pud said:

Lloyds is a long winded form external to being logged in, can’t see a way to do it within my internet banking.

Any clue what to do!?

I don’t need any donor accounts!

I am assuming from the above that you do have at least one Lloyds current account. From the app select Apply from the menu bar, expand Current accounts and there is an option to switch into an existing account there.

Brilliant many thanks 🙏 Did/set up three switches in three minutes!

Rob5342

I closed an old Halifax one by switching, simply becuase it was easier than wirting to them to close it which seemed to be the only way.

I guess it's the classic renetion trick where they let you sign up to things easily online but make it a hassled to cancel.

Yorkshire_Pud

Rob5342 said:

I closed an old Halifax one by switching, simply becuase it was easier than wirting to them to close it which seemed to be the only way.

I guess it's the classic renetion trick where they let you sign up to things easily online but make it a hassled to cancel.

Yes it does seem a lot more reliable and less hassle  to switch, then they can’t ‘forget’ to close the account and the new bank has the incentive to make it happen within a specified time. 

Can’t help feeling it’s a shame I’m ‘giving the account away for free’ but that’s what happens when you’ve bagged most incentives!