We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Switching current accounts if you’ve only ever had one current account
Options
Comments
-
I missed out on the Lloyds offer didn’t I. Oh well! I am a bit suspicious of Lloyds.. but probably unfounded… shame about the cinema tickets!!0
-
MargeryKempe said:Ah i see i have to wait for the Starling debit card to arrive before I can do any switch…0
-
Jitterywreck said:I've had my main current account with barclays for 25 years. I naively switched this one for the natwest bonus (oops) however I also have a graduate account with barclays which I've held for 18 years so I could technically use that for future credit checks ? I also have a monzo account as I travel a lot and use their travel insurance product and their spending abroad.
I'm keen to take advantage of first directs offer too, just not sure what my next move should be ?! I am confident with shifting balances as I already do this regularly anyway, but I would like to take advantage of the first direct saving incentive which is better than the natwest one (can pay more in for a start) any advice ?1 -
danny13579 said:MargeryKempe said:Ah i see i have to wait for the Starling debit card to arrive before I can do any switch…1
-
piker57 said:danny13579 said:MargeryKempe said:Ah i see i have to wait for the Starling debit card to arrive before I can do any switch…
0 -
Band7 said:Jitterywreck said:I've had my main current account with barclays for 25 years. I naively switched this one for the natwest bonus (oops) however I also have a graduate account with barclays which I've held for 18 years so I could technically use that for future credit checks ? I also have a monzo account as I travel a lot and use their travel insurance product and their spending abroad.
I'm keen to take advantage of first directs offer too, just not sure what my next move should be ?! I am confident with shifting balances as I already do this regularly anyway, but I would like to take advantage of the first direct saving incentive which is better than the natwest one (can pay more in for a start) any advice ?0 -
MargeryKempe said:I missed out on the Lloyds offer didn’t I. Oh well! I am a bit suspicious of Lloyds.. but probably unfounded… shame about the cinema tickets!!
It's worth considering the long game and have a load of accounts ready to go for when a decent switch offer comes along. They tend to offer more money each time, so missing out now just means you'll get more eventually.
I wouldn't switch a starling account, they are more likely to refuse you an account in the future if you want one. While the high street banks don't care at all.
0 -
phillw said:MargeryKempe said:I missed out on the Lloyds offer didn’t I. Oh well! I am a bit suspicious of Lloyds.. but probably unfounded… shame about the cinema tickets!!
It's worth considering the long game and have a load of accounts ready to go for when a decent switch offer comes along. They tend to offer more money each time, so missing out now just means you'll get more eventually.
I wouldn't switch a starling account, they are more likely to refuse you an account in the future if you want one. While the high street banks don't care at all.0 -
So I could open a RBS or NatWest but it’s one of them I might want to switch to. So I am best off starting off with Lloyds?0
-
Switching today is really easy and all banks will assist you in the process. All you really need to do is apply online for a new current account, provide the details of your old bank while applying and everything will be switched for you, and there's a guarantee that if something goes wrong, your money is safe. Everything is nearly transferred for you, apart from your debit card purchases and an overdraft.
Setting up an overdraft is easy, just contact your new bank and most are quick at setting it up. Plus, you'll get an incentive for switching sometimes and ideally a better banking offer.
In terms of the effect on your credit score, it's usually minimal and after a year or two will be nearly non-existent as long as you keep up good credit habits.
In terms of banks to switch to, I've heard quite a few bad stories about RBS and the quality results are worse than HSBC, so I'd suggest Virgin Money or Nationwide.
Virgin Money has a better product though and I'd only really recommend Nationwide for the 'second best' option. Although Virgin Money don't get as good service ratings as some of the others, I've never had a problem and find their service really friendly and products fair, overdrafts are a lot lower than all the other banks too.2
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.7K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.4K Spending & Discounts
- 243.7K Work, Benefits & Business
- 598.4K Mortgages, Homes & Bills
- 176.8K Life & Family
- 256.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards