Repeat Switching - recommend a second/burner account

boingy

eskbanker said:

[Deleted User] said:

Katiehound said:

or set up a second account with your existing bank, that's usually very easy

you can then use that for successive switching

Yes but your 'real' bank might take a dislike to being (ab)used and close all your accounts.

Are you aware of any verifiable examples of a bank doing this to someone who opened one additional account and switched it away?

Not for one additional account but there is at least on regular poster on these forums, not too far away from this post, who had it happen for quite a few additional accounts. It does surprise me that banks don't put more effort into blocking serial switchers, of whom I am one. We're pretty easy to spot. 

Bridlington1

boingy said:

eskbanker said:

[Deleted User] said:

Katiehound said:

or set up a second account with your existing bank, that's usually very easy

you can then use that for successive switching

Yes but your 'real' bank might take a dislike to being (ab)used and close all your accounts.

Are you aware of any verifiable examples of a bank doing this to someone who opened one additional account and switched it away?

Not for one additional account but there is at least on regular poster on these forums, not too far away from this post, who had it happen for quite a few additional accounts. It does surprise me that banks don't put more effort into blocking serial switchers, of whom I am one. We're pretty easy to spot. 

5 in total if my memory serves me well. I did open quite a few savings accounts in a single day though so I don't think that helped the situation either.

Rob5342

boingy said:

eskbanker said:

[Deleted User] said:

Katiehound said:

or set up a second account with your existing bank, that's usually very easy

you can then use that for successive switching

Yes but your 'real' bank might take a dislike to being (ab)used and close all your accounts.

Are you aware of any verifiable examples of a bank doing this to someone who opened one additional account and switched it away?

It does surprise me that banks don't put more effort into blocking serial switchers, of whom I am one. We're pretty easy to spot. 

I've been refused new accounts at banks I've used for donor accounts before so perhaps they do to a degree. I'd imagine they want to keep the  process quite free so they gain the people that will stay. I'm not sure how many are serial switchers there actually are either. We talk about it a lot here but most people I know have been with their banks for ages and wont even entertain the idea of switching as they have a misconception that its difficult. They are the same with utilities too, I've pointed out better energy deals for them in the past but they wtill stay with the same provider for years because "they like british gas"

Katiehound

Well, I've certainly opened the 'odd one' donor account with an existing bank and nothing has happened.
 I am not talking several accounts.

The point is once you have switched a donor account you can open a new account at your new bank if you want, or you can just switch the donor account again. Sometimes there are products that you might like, such as the RS. I have often kept my 'new' account for a year and then moved on. It really depends on the 'rewards'

I have been with my 'main' bank for about 15 years and I wouldn't dream of moving that but I have a clutch of 'also rans'

frosch411

I'd be interested to hear if one could open a Chip account also as a burner one. 
My current account is the Halifax Reward account (have had this for years/decades) which I want to keep, including the DDs.
But the FD switch offer is a lucrative one (£175 cash plus 7% regular saver; the £30 Amazon voucher is an extra bonus).
Thanks for your insights, Forumites 😊

boingy

Chip are not part of the CASS scheme. Full list here:

Banks & building societies signed-up to the Current Account Switch Service

As an existing customer you can open a second Halifax current account in a few minutes and use that for switching.

frosch411

boingy said:

Chip are not part of the CASS scheme. Full list here:

Banks & building societies signed-up to the Current Account Switch Service

As an existing customer you can open a second Halifax current account in a few minutes and use that for switching.

Oohhhh..never thought of that..thanks @boingy 👌🏼😊

frosch411

Last question from me: 
Second Halifax current account opened in minutes indeed so will use this for the FD current account switch.
After the switch to FD has been completed, is there anything else to do? I'll assume the switch means the burner account gets closed and that's it.
(Sorry if this all rather simple for the experts here, but I am finally getting to grips with making more of my hard-earned money 🤑).
Thanks 😊

Rob5342

Yes, if you request a full switch then the old account automatically gets closed as part of the process There's nothing else to do

frosch411

Rob5342 said:

Yes, if you request a full switch then the old account automatically gets closed as part of the process There's nothing else to do

Great..thank you @Rob5342 😊👌🏼