Should l do this for switching offer?

Bob2000

I've currently  have a Natwest current account and  am thinking of trying  to open a second one for the sole purpose of switching to Santander.
The original  NW account  is attached  to an isa with a few thousand in it. Hence  why l wouldn't use it for the switch.

If l do go ahead  with it and switch the NW account straight away (empty), will l get flagged by NW?

I also have an RBS current account, which l use for the regular saver, so I do t want to jeopardise that.

Both Natwest and RBS  were switches themselves  earlier in 2024.

Jami74

I've switched second accounts with both NatWest and RBS more than once (at least a year in between switches though). 

Rob5342

I don't think anyone can say for sure really, no bank is obliged to give you an account. I would guess that probably the worst thing that could happen would be that Natwest wouldn't let you opem more accounts further down the line. If you are worried you could open one elsewhere. 

sparky0138

You could open a Chase account and then a second account to use for switching. Many people have had success with this (myself included) and found the accounts easy to set up. There are a couple of threads about it here...

https://forums.moneysavingexpert.com/discussion/6570245/chase-switching/p1

https://forums.moneysavingexpert.com/discussion/6465116/first-direct-switching-bonus-from-chase-account

PRAISETHESUN

It's unlikely they will care if you do this as a once off, but if you were to open and switch away repeatedly I suspect they might start to get annoyed.

But as above I also use Chase for this and they haven't cared about the number of accounts I've open and closed so far. Added bonus that they don't do a hard credit check for each new account like NatWest/RBS do. Just make sure you open at least 2 accounts and always keep at least one account open at all times, because if you close your final account with them they won't let you open new ones in future.

Bob2000

Jami74 said:

I've switched second accounts with both NatWest and RBS more than once (at least a year in between switches though). 

Yeah that's what l was wondering it not even a year with both NatWest or RBS. 

Bob2000

Rob5342 said:

I don't think anyone can say for sure really, no bank is obliged to give you an account. I would guess that probably the worst thing that could happen would be that Natwest wouldn't let you opem more accounts further down the line. If you are worried you could open one elsewhere. 

I could live with that got more than enough  accounts  anyway:)

Bob2000

sparky0138 said:

You could open a Chase account and then a second account to use for switching. Many people have had success with this (myself included) and found the accounts easy to set up. There are a couple of threads about it here...

https://forums.moneysavingexpert.com/discussion/6570245/chase-switching/p1

https://forums.moneysavingexpert.com/discussion/6465116/first-direct-switching-bonus-from-chase-account

Thanks for the links.

Bob2000

PRAISETHESUN said:

It's unlikely they will care if you do this as a once off, but if you were to open and switch away repeatedly I suspect they might start to get annoyed.

But as above I also use Chase for this and they haven't cared about the number of accounts I've open and closed so far. Added bonus that they don't do a hard credit check for each new account like NatWest/RBS do. Just make sure you open at least 2 accounts and always keep at least one account open at all times, because if you close your final account with them they won't let you open new ones in future.

I'll keep chase in mind  for the future.