Changing to different savings account.

tsmiggy54

How many of you, when it comes to changing from one savings supplier to another, mainly to get a better rate, leave a small sum in your previous supplier. Or do you close the account completely. 

mebu60

I usually leave £1, has paid for itself many times over with ease of subsequent switching when that provider is ToTP again or for qualifying for loyalty issues.

Occasionally, when the provider has been a PITA, Chorley, looking at you, I will close the account if I have no desire to use them again. 

wmb194

If the minimum balance is zero I leave zero and keep it open.

Bigwheels1111

The £1 pry bar special.
Worked for Skipton last year, I just leave a pound in and low and behold a 7.5% regular saver was offered.
For members that had had an account for a year or more.

Middle_of_the_Road

I have previously, but now I never close a savings account. I find it easier to maintain records by having online access to previous statements.

allegro120

tsmiggy54 said:

How many of you, when it comes to changing from one savings supplier to another, mainly to get a better rate, leave a small sum in your previous supplier. Or do you close the account completely. 

I keep them opened, it saves the time and effort opening them again when they become competitive again.  And if they don't, keeping them doesn't do any damage. Some of them don't even have a minimum operating balance.

friolento

I generally keep on account open, with a minimum balance

boingy

I'm a bit of both. Some of the savings accounts I've had have been with institutions who seem to be stuck in the dark ages and are just slow and unresponsive. So I kick those into touch. Others I keep open with about a quid in them. 

tsmiggy54

Thank you folks, some great advice. And some i had not thought about. Thanks

brucefan_2

I mostly keep them open for the reasons mentioned already.

I have also specifically opened a number of accounts and deposited the minimum to build membership time for possible future 'Members only' special rates.