Switching question

Summersoon1

Hi, probably a stupid question but wanted to check: have never switched before but been tempted by the Santander offer, but want to check. I have my individual current account, and two credit cards, and our joint account and our joint savings account at HSBC; can we just swap our joint account to Santander,and keep my current account (no salary into it,or DD/so out of it)and credit cards open with HSBC? I was concerned the switching service just closes every bank account you have somewhere 🙃
Thanks in advance 

Brie

I believe you tell them which specific account you are switching from.  Credit cards would certainly not be an issue. 

mebu60

Yes.

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flaneurs_lobster

Could you not wangle it so that you and your joint account partner switch an individual account each for double bubble?

PRAISETHESUN

When you switch, you nominate one specific account to switch. Any other products (other current accounts, savings accounts, credit cards, etc) you hold with that bank remain unaffected. If you elect to switch your joint account, only that specific account will move.

If you're tempted by the Santander offer though, you're better off having you and your OH each do an individual switch. That way you both get £175 each (ie. £350), instead of just £175 for switching the joint account.

Summersoon1

flaneurs_lobster said:

Could you not wangle it so that you and your joint account partner switch an individual account each for double bubble?

I hadn't even thought of that🤣🤣 will definitely consider it,but in all honesty,as I'm the one who manages the money, think this might over complicate things.
Also,and this came as a big suprise as I'm pretty switched on and would say bit above "the man on the street" with household finance stuff,but felt a little anxious and nervous about switching, which is why I thought I'd ask the excellent brains here: thank you all. I'm off to get some free money 😁👍

MikeJXE

Summersoon1 said:

flaneurs_lobster said:

Could you not wangle it so that you and your joint account partner switch an individual account each for double bubble?

I hadn't even thought of that🤣🤣 will definitely consider it,but in all honesty,as I'm the one who manages the money, think this might over complicate things.
Also,and this came as a big suprise as I'm pretty switched on and would say bit above "the man on the street" with household finance stuff,but felt a little anxious and nervous about switching, which is why I thought I'd ask the excellent brains here: thank you all. I'm off to get some free money 😁👍

I was like you a year ago and I didn't want to switch my mail account. 

I first opened a Metro account and did my first switch to FD for £200

Now after opening multiple bank accounts and switches I am over £2000 richer and have 10 bank account waiting for the next surge. 

Go for it 

jameseonline

Honestly set up a few spare (burner) current accounts purely just for switching, then you don't have to worry about switching your main account, easy enough to do then you can still have the benefits of your main + any the new account has + the switch money, done this over a few years & proud of it 🙂

Some people on here switch the one account then switch that new one and switch that new one.

I like to keep the accounts I get because it makes it easier to jump on new accounts should they come up as I have an existing relationship with a bank etc, but each to their own.

steven141

jameseonline said:

Honestly set up a few spare (burner) current accounts purely just for switching, then you don't have to worry about switching your main account, easy enough to do then you can still have the benefits of your main + any the new account has + the switch money, done this over a few years & proud of it 🙂

Some people on here switch the one account then switch that new one and switch that new one.

I like to keep the accounts I get because it makes it easier to jump on new accounts should they come up as I have an existing relationship with a bank etc, but each to their own.

The thing I always wonder is if this will affect a mortgage decision. I have about 6 bank accounts at the moment but have been up at about 7/8 at one time. I may be applying for a mortgage in the future so I have stopped all switching but I have exhausted all apart from the Virgin one. I have chosen not to go with that one for now. 

jameseonline

steven141 said:

jameseonline said:

Honestly set up a few spare (burner) current accounts purely just for switching, then you don't have to worry about switching your main account, easy enough to do then you can still have the benefits of your main + any the new account has + the switch money, done this over a few years & proud of it 🙂

Some people on here switch the one account then switch that new one and switch that new one.

I like to keep the accounts I get because it makes it easier to jump on new accounts should they come up as I have an existing relationship with a bank etc, but each to their own.

The thing I always wonder is if this will affect a mortgage decision. I have about 6 bank accounts at the moment but have been up at about 7/8 at one time. I may be applying for a mortgage in the future so I have stopped all switching but I have exhausted all apart from the Virgin one. I have chosen not to go with that one for now. 

I only do current accounts & savings accounts so can't answer in regards to mortgages.

I've done things gradually as much as possible over a few years, applying for several current accounts in a short time can damage your credit score though.

I had a few Nationwide Flex Accounts spare I setup a while back, used up the last recently to get an Ulster Bank Account, £200 switch bonus.

Still got a spare RBS Current Account & spare Halifax account I could use for switching if needs be, but I'm pretty much done now for high street banks/building societies, think there's only Metro left for me.

Hopefully someone else can help you soon.

Nasqueron

jameseonline said:

steven141 said:

jameseonline said:

Honestly set up a few spare (burner) current accounts purely just for switching, then you don't have to worry about switching your main account, easy enough to do then you can still have the benefits of your main + any the new account has + the switch money, done this over a few years & proud of it 🙂

Some people on here switch the one account then switch that new one and switch that new one.

I like to keep the accounts I get because it makes it easier to jump on new accounts should they come up as I have an existing relationship with a bank etc, but each to their own.

The thing I always wonder is if this will affect a mortgage decision. I have about 6 bank accounts at the moment but have been up at about 7/8 at one time. I may be applying for a mortgage in the future so I have stopped all switching but I have exhausted all apart from the Virgin one. I have chosen not to go with that one for now. 

I only do current accounts & savings accounts so can't answer in regards to mortgages.

I've done things gradually as much as possible over a few years, applying for several current accounts in a short time can damage your credit score though.

I had a few Nationwide Flex Accounts spare I setup a while back, used up the last recently to get an Ulster Bank Account, £200 switch bonus.

Still got a spare RBS Current Account & spare Halifax account I could use for switching if needs be, but I'm pretty much done now for high street banks/building societies, think there's only Metro left for me.

Hopefully someone else can help you soon.

The credit "score" is a gimmick from the CRAs - no lender ever sees it and it is never used in any lending decision.

A credit account switch, without an overdraft, may involve a hard search but the odd one or two a year in an otherwise well maintained credit history isn't going to mean very much in the grand scheme of things. It's just wise not to apply for anything, credit specifically, in the lead up to a mortgage application.