Should I switch from First Direct?

I have a current account with First Direct, which i like.  But I want to take advantage of the cash offers for switching.  I've opened a Starling account for this purpose.  Question is, do I just switch the Starling account to Nationwide (which looks a pretty good account and best cash offer), so I can keep my main First Direct account open, or do I switch the First Direct account to Nationwide and move the Starling account to another bank offering cash (possibly TSB)?  As I have a Regular Saver linked to my 1st Account, I'd lose that and the potential future interest if I close this account, however Nationwide seems to pay a higher rate of interest than the saver, so this may not be an actual loss?  Also not sure if this will look bad on my credit score if i open 2 new accounts within a matter of days.    I also wasn't clear on whether it is possible to switch both a single and joint account to Nationwide and be paid the cash twice?  Has anyone done this?  Sorry for the many questions!  


  • eskbankereskbanker Forumite
    25.4K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If you like FD and the regular saver then leave that alone, but if you've set up a Starling account with switching in mind then just switch that to Nationwide.

    If you want to keep earning switching incentives from other banks then you'd need to open more donor accounts, these would entail credit searches but that's unlikely to be an issue unless you're planning on taking out significant new credit within the next 6-12 months.
  • km1500km1500 Forumite
    970 Posts
    500 Posts Name Dropper
    The general advice is to open and keep a 'main' account (however you define that) - one that is stable over the years and which you use as your real bank account

    when it comes to switching just open donor accounts as and when and switch those
  • Bigwheels1111Bigwheels1111 Forumite
    1.1K Posts
    1,000 Posts First Anniversary Name Dropper
    Keep First Direct account.
    I have 4 other accounts for switching.
    Each account has a months bill money in it.
    Just in case it gets blocked, most banks seem very twitchy at the moment.
    See pages on bank blocked my account, why.
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