I am on my 3rd bank account for 2023 already, now with NatWest and will keep this but opened 2 digital banks to use for, which I further offers and will end up with 3-4 current accounts in the end as they all will have benefit (Santander cash back, Lloyds free Disney, NatWest regards etc).
I also use chase for day to day spending so it’s just a few standing orders to move money to meet the requirements which I will be happy to do.
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Thoughts required on frequently switching current accounts to get more offers / rewards

MoneySaverUK123
Posts: 38 Forumite


I'm currently switching my current account from the co-op to hsbc, and a thought occured to me that once i receive hsbc's £200 new customer join offer, should i then look around for the next offer or reward from some other bank, and switch again? (and keep switching, to get more offers / rewards.)
has anyone tried something this?
thanks for your thoughts / advice on the subject.
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Comments
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Many on here switch repeatedly, yes, although some question the ethics of this approach, but doing so with your main current account is perhaps more risky than it needs to be, so many will use a secondary account for serial switching purposes....2
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If you switch it places a hard search on your credit record so it does depend if you are looking for any credit in the future I.E. a Mortgage renewal so bear that in mind.Challenges
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generally easier to keep your 'main' account intact then if something goes awry you won't have any worries.
Open a donor account with that original bank and switch it- as many times as you want!
However,sometimes the 'new' bank has a feature that you like ( rewards, RS) , so, open a new donor account with them ...etc... repeatBeing polite and pleasant doesn't cost anything!
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