Can you have 2 of the same current account with the same bank?

j813ys

For the purpose of bills and disposable segregation? If not can you have 2 different current accounts witht the same bank, such as reward and standard?

eskbanker

In principle you can have as many accounts as you like, but any individual bank can set its own restrictions, so you'd need to check the terms of any that you have in mind.

PRAISETHESUN

It'll depend on the bank and the T&Cs of the specific accounts, but in practice most banks are perfectly happy to let you open multiple current accounts. Out of interest, which bank accounts are you considering?

grumbler

Yes, you can - the same or different.
This doesn't mean that you have the right. Theoretically, a bank can reject your application.

Rob5342

It's easier to open an account with Monzo or Starling then you can use their pots/spaces to segregate things as much as you want. Alternatively Chase let you open up to 20 accounts, each with their own account number, and you can attach the debits card to whichever one you like.

DullGreyGuy

j813ys said:

For the purpose of bills and disposable segregation? If not can you have 2 different current accounts witht the same bank, such as reward and standard?

Legally you could have a thousand or more accounts with them however most banks have their own rules about the number of accounts each person can hold; Starling for example allow each person to have two personal accounts and one joint account. Other banks may allow more or less.

Various challenger banks try to do away with people needing multiple accounts by allowing you to subdivide a single account into various sections with a separate debit card etc. Starling for example call them "pockets".

CliveOfIndia

In practice most of the "traditional" banks will let you hold several accounts.  We do exactly this, for much the same reasons as you outline - one account for everyday bills & spending, another for holiday savings, another for rainy-day savings, etc. 

As others have said, a lot of the "newer" banks let you split things up into pots, which you may find convenient.  But for old dinosaurs like myself, multiple accounts with the same (or even different) high-street banks has always worked fine and I've never encountered any issues with it.

Rob5342

The nice thing about Monzo and Starling is that you can create and remove pots/spaces and set which direct debits and standing orders come out of them on the fly. That's far more convenient than having separate accounts and having to tell the companies to change which account they take the direct debit from. 

j813ys

Rob5342 said:

The nice thing about Monzo and Starling is that you can create and remove pots/spaces and set which direct debits and standing orders come out of them on the fly. That's far more convenient than having separate accounts and having to tell the companies to change which account they take the direct debit from. 

Yes I have used these banks extensively, but have ultimately found it better to have banking business with a major bank. Its just as easy moving money between accounts of the same bank.

rider22

Rob5342 said:

The nice thing about Monzo and Starling is that you can create and remove pots/spaces and set which direct debits and standing orders come out of them on the fly. That's far more convenient than having separate accounts and having to tell the companies to change which account they take the direct debit from. 

can i open another account t with monzo and then switch to tsb so one of my account will still be active whilst i switch away ?