Easiest current accounts to use for switch deals?

tg99

Outside of the main players / high street names, any thoughts on currently the easiest current accounts to use for switching to someone else in relatively short order? (Am looking at the new TSB switch offer.) Think I recall Monzo and Starling being mentioned previously though not sure if this is still valid or if there are any reasons why you might not want to use them (eg stopping you from opening another account if you close it, any lack of function like direct debits etc).

Guess alternatively I could use one of my four virgin M+ accounts given they have fallen way behind in interest rates both for the current account and associated saver.

thks.

boingy

I found Metro and Starling to be quick. Starling wouldn't let me open another account after I switched the first away. I've used Metro twice now.

WillPS

If you have any Lloyds, Bank of Scotland or Halifax accounts it's dead easy to set up another and usually* you wont be hard checked. Just don't take the mickey with it - stick to 1 every so often.

*YMMV

Starling tend to bar CASSed out customers for one year.

Monzo are less clear about their restrictions but if you want a Monzo account, or think you might in future, it's best not to use them for this.

Of course any bank might decide they don't want to deal with people who've left previously, but in reality most are eagre to (re)capture customers.

jbrassy

I can confirm Monzo is a good choice. They don't do a hard credit check when you sign up. Monzo also never have switching deals. Finally, I think Monzo's offering is inferior to other digital banks (Kroo, Chase, Starling), so even if you can't open an account again for a long time, I doubt you'll be missing much. 

I would not suggest Starling because Starling is a bank account worth keeping in my opinion (good app and customer service plus no fees for overseas usage).

Munchkinsmum

I just applied for RBS for the switch offer and they hard searched me

gary1312

I'd always recommend the Santander Basic and TSB Cash accounts to use for switching - no hard credit search and easy to open.

worriednoob

As someone who's just recently posted a similar question about switching HERE, I managed to open 3 accounts each for myself and my partner, which are: CHASE, MONZO & SANTANDER.  No issues whatsoever and each account was opened within 15 minutes or so. 

Also AFAIK Chase don't do any credit checks - Only ID checks

I've even applied for Natwest today for the 2 chase accounts and they've been successful.

alco_pop

jbrassy said:

I can confirm Monzo is a good choice. They don't do a hard credit check when you sign up. Monzo also never have switching deals. Finally, I think Monzo's offering is inferior to other digital banks (Kroo, Chase, Starling), so even if you can't open an account again for a long time, I doubt you'll be missing much. 

I would not suggest Starling because Starling is a bank account worth keeping in my opinion (good app and customer service plus no fees for overseas usage).

How long does it take to open, then be able to transfer from Monzo?

MikeJXE

I have found most banks require you to have the debit card of the bank you are going to switch 

jbrassy

alco_pop said:

jbrassy said:

I can confirm Monzo is a good choice. They don't do a hard credit check when you sign up. Monzo also never have switching deals. Finally, I think Monzo's offering is inferior to other digital banks (Kroo, Chase, Starling), so even if you can't open an account again for a long time, I doubt you'll be missing much. 

I would not suggest Starling because Starling is a bank account worth keeping in my opinion (good app and customer service plus no fees for overseas usage).

How long does it take to open, then be able to transfer from Monzo?

I don't think it takes long to set up the account (1 day max). Then it probably takes around 1 week for the card to arrive. Once you have this, I think you can switch.

alco_pop

jbrassy said:

alco_pop said:

jbrassy said:

I can confirm Monzo is a good choice. They don't do a hard credit check when you sign up. Monzo also never have switching deals. Finally, I think Monzo's offering is inferior to other digital banks (Kroo, Chase, Starling), so even if you can't open an account again for a long time, I doubt you'll be missing much. 

I would not suggest Starling because Starling is a bank account worth keeping in my opinion (good app and customer service plus no fees for overseas usage).

How long does it take to open, then be able to transfer from Monzo?

I don't think it takes long to set up the account (1 day max). Then it probably takes around 1 week for the card to arrive. Once you have this, I think you can switch.

Thanks, have opened the account now, so will wait for the card before doing the switch.