Switching current account

Redhead24

So have a current account, Cash ISA and a savings account with HSBC. Looking at switching to First Direct - can I just switch the current account and savings account and leave the Cash ISA with HSBC. Please, thank you. Bit nervous about this as been with HSBC all our life but they have done nothing for us, interest rates are very poor. 

Katiehound

Perhaps better to open an account with  another bank as a donor account and then keep the HSBC one? That way you retain you long term bank relationship.
Is the HSBC regular saver not paying a fairly decent rate?

wmb194

Redhead24 said:

So have a current account, Cash ISA and a savings account with HSBC. Looking at switching to First Direct - can I just switch the current account and savings account and leave the Cash ISA with HSBC. Please, thank you. Bit nervous about this as been with HSBC all our life but they have done nothing for us, interest rates are very poor. 

First Direct is literally just a brand of HSBC - it even shares the same banking licence - so you're not exactly going very far... Apart from its 7% regular saver FD doesn't offer much in the way of interest either. Better to look farther afield if that's something you want.

Zanderman

Redhead24 said:

So have a current account, Cash ISA and a savings account with HSBC. Looking at switching to First Direct - can I just switch the current account and savings account and leave the Cash ISA with HSBC. Please, thank you. Bit nervous about this as been with HSBC all our life but they have done nothing for us, interest rates are very poor. 

Savings accounts cannot be switched.  The Current Account Switching Service only does one thing - switching current accounts.  Any savings accounts etc stay where they were. 

eskbanker

Zanderman said:

Redhead24 said:

So have a current account, Cash ISA and a savings account with HSBC. Looking at switching to First Direct - can I just switch the current account and savings account and leave the Cash ISA with HSBC. Please, thank you. Bit nervous about this as been with HSBC all our life but they have done nothing for us, interest rates are very poor. 

Savings accounts cannot be switched.  The Current Account Switching Service only does one thing - switching current accounts.  Any savings accounts etc stay where they were. 

....and worth checking if the savings account is dependent on retaining a current account with HSBC, as some are:

https://forums.moneysavingexpert.com/discussion/6409278/unable-to-move-money-out-of-hsbc-savings-accounts/p1