Bank switch query

punkapunka Forumite
19 Posts
Part of the Furniture Combo Breaker
Do any of the current switch bonus offers NOT automatically close your old account?

Been with FD for years but I want a second account for bills and food shopping transactions as I'm trying to plan for the next year, with a bit of flexibility. Really anxious about something going wrong if my old account is closed. I would like to use it as a place for everything to go in and chunks go out for certain things. With all the price rises, I need to separate my expenses or will struggle.

I would be paying in 1300 a month to bills account which gives me between 10 and 100 spare for unforeseen expenses.

That leaves me with 600 ish to cover my  train to work 1 to 4 days per week, sundries and a bit of fun money. This is currently fielded into a chase account weekly with 1% cashback and round up. This has worked really well for me in past 2 months to plan weekly! 

I want to keep my FD account as a back up/safe place/dump for income. Ultimate goal, maximise some offers! 


  • ZandermanZanderman Forumite
    4.3K Posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    The whole point of the switching offers is that they close the old account - giving all the account business to the new bank.

    So a partial switch won't trigger any offers. 

    If you want to keep your old account don't switch it.  Open another account (you say you want another!) and switch that.

  • danny13579danny13579 Forumite
    66 Posts
    10 Posts
    punka said:
    Do any of the current switch bonus offers NOT automatically close your old account?
    No, they all require full switches under the Current Account Switch Service, which means the old account is closed once the switch completes.
  • Rob5342Rob5342 Forumite
    571 Posts
    500 Posts First Anniversary Name Dropper
    The switching process is quite streamlined these days so there isn't much risk of it going wrong and all incoming payments get redirected to the new account.

    If you really don't want to lose the FD then just in open a dummy account for switching. I've kept my main account and opened a second account with a couple of direct debts that I've switched around.
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