Bank of Scotland Current Account question

waterman10

I've got 2 Bank of Scotland current accounts - one with 3 direct debits and one with 4 direct debits.  Both are earning rubbish interest.  I want to switch to another bank to get a better rate and just have the one current account.

I'm just wondering whether I should say to BOS I want to amalgamate the 2 accounts into 1 and then later on switch away to somewhere else?

flaneurs_lobster

Switch one to Santander for free £180 and the other to First Direct for £200. Both offer decent savings products once you've opened the current accounts.

If you don't want two current accounts then close one (after the bonus has been paid), or leave it alone to be switched to the next bank offering a bribe.

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/#switch

WillPS

There's not really such a thing as an 'amalgamation' of accounts. They both exist as separate entities, and can be used or closed as such. The Switch Service (which can only be used when moving banks, not combining within one) doesn't really amalgamate, it just streamlines the process of moving stuff over and closing an old account.

The advice above is good. 

PRAISETHESUN

Switching can only be used to move between different banks. You unfortunately can't use CASS to switch and "amalgamate" as you put it, your two BOS account. You can switch both of them into a single account with another bank however, but you're better off using them as donor accounts to take advantage of two switch incentives with different banks.

35har1old

flaneurs_lobster said:

Switch one to Santander for free £180 and the other to First Direct for £200. Both offer decent savings products once you've opened the current accounts.

If you don't want two current accounts then close one (after the bonus has been paid), or leave it alone to be switched to the next bank offering a bribe.

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/#switch

If OP isn’t happy with the interest being paid he likely wouldn't be happy paying a fee to Santander to get excess to the savings account given he is transferring DD be OK if he qualifiers for the incentive