Keeping current accounts when doing bank switches

subjecttocontract

Essential ? I don't think so.

I had mortgages continuously between the ages of 21 & 65. 10 mortgage loans at the same time at one point. I've spent my life opening various bank accounts & credit cards all without issues.

I think we'll have to agree to disagree on this point.

confederated

https://forums.moneysavingexpert.com/discussion/comment/82120516#Comment_82120516

Interesting. A good friend also had a J D Williams account opened in her name by someone else. It happened a few months ago, and she was very pleased to have access to her credit files. She and I are 69 years old. Being aware is far better than not being aware. So much these days happens online and I want to know what is out there about me!

friolento

https://forums.moneysavingexpert.com/discussion/comment/82120603#Comment_82120603

I am most happy to disagree with you on the importance of credit files, and so would Martin Lewis, I am sure. It would be pretty terrible advice to younger people not to bother. MSE provides great guidance on how to use credit file information for free, and for the avoidance of doubt, I'd never suggest anyone should pay a CRA for access to their information.

confederated

https://forums.moneysavingexpert.com/discussion/comment/82120690#Comment_82120690

Indeed. Some send alerts when any new activity is detected. That is really useful. Deliberately not checking them is like sticking your fingers in your ears doing 'la la la'.

subjecttocontract

https://forums.moneysavingexpert.com/discussion/comment/82120697#Comment_82120697

Indeed they do, my Nat West account alerts me when there is activity detected.

confederated

https://forums.moneysavingexpert.com/discussion/comment/82120900#Comment_82120900

So you are using a credit reference agency! You said you had no interest in them!

subjecttocontract

No. I'm just a Nat West account holder. I'm not responsible for their choice to automatically notify me when they detect activity on my file.

confederated

https://forums.moneysavingexpert.com/discussion/comment/82120992#Comment_82120992

I'm sure I had to sign up for that. Surely they can't access your credit reference without your permission. They always ask you, even if you're applying for a new account - they can't just dip in. In any case you could ask them to stop sending these messages, given you have no interest in your credit reference. If you're happy to receive the alerts then much of what you said earlier is nonsense.

Maegi

Checking your credit reports every month is probably overkill as identity theft isn't that common.

I tend to only check one (Experian) when i think I have a problem.

pfpf

i have lets say 10 current accounts with one Bank, from a consolidation POV would it be better to switch them all to another Bank or simply close them? said bank does have a "close account" button.

i am thinking from a credit report POV.