Is it possible to have two current accounts?

lush_walrus

I am currently with HSBC for my current account, and I know they are pretty bad interest etc but I want to leave this account as is this account has my mortgage etc coming out of.

However my dillema is I want to open another current account, just for certain direct debits and payments, nothing dodgy just that I want to keep things separate.

Anyway my question is: Is it possible to have two current accounts?

Can I open a (for example) new current account with A & L and keep my HSBC also?

Thanks guys

spendaholic

In a word, yes.

lush_walrus

Thank you understanding finance is a big weak point for me!!!

Just one other little question, assuming I run off and open another account, do I tell them about my other account or doesnt it make a difference. What I don't want them to do is moveeverything attached to my HSBC over to their account.

spendaholic

You don't have to tell either of them anything. Well, you can if you want, but you don't have to.

Grumpy_Old_Duffer

In 2 words ..... Yuppity Yup!!!

Cardew

Some savings accounts - Nationwide E Saver for example - can only be operated in conjunction with a current account as monies are paid in(and out) via the current account.(Flex Account)

It is also possible to have an additional current account without some of the 'normal' facilities - cheque book, overdraft etc

mummytofour

I have two a/c one for all my dds and one for my day to day spending, dh pay goes into the day to day a/c and then money is moved from this to the bill a/c on pay day, then there is money for all the bills for the month.
Vxx

aliasojo

Lol....I've got 5 spread about all over the place, although 2 are in the same bank keeping each other company. I don't tell any of the banks I have other accounts...I figure it's none of their business.

I opened some to take advantage of opening offers but haven't got around to closing them again. I really must tidy things up I think.

italiastar

Some banks may give you grief if you don'y pay your salary into it - I opened a second account up with First Direct without any problems - In fact, I'm running 3 current accounts

lush_walrus

Thanks everyone, just to give you an update Ive applied for an A&L account, and told them that I have a current account, but Im going to keep both going and just move some of my direct debits over. I think they do have a minimum of £1,000 to be paid in per month, but thats fine I can split my wages which is what I was wanting to do anyway to separate out expenses.

So thanks again guys, helpful as always x

dealseeker

lush_walrus wrote:

Thanks everyone, just to give you an update Ive applied for an A&L account, and told them that I have a current account, but Im going to keep both going and just move some of my direct debits over. I think they do have a minimum of £1,000 to be paid in per month, but thats fine I can split my wages which is what I was wanting to do anyway to separate out expenses.

So thanks again guys, helpful as always x

Would be surprised if your payroll would split your wages paid to 2 separate account.

I guess the pay in can come from anywhere (check T&C) so it may just mean a standing order from one current account to another.