Can you have more than one current account with the same bank?

56cheffy

As in the title:
Can you have more than one current account with the same bank?

I have a couple of BTL properties and I would like to keep things separate from home stuff and I dont want a buisness account.

Thanks

CarolynH

I have my current account and mine and my boyfriends 'joint' current account both with HSBC if that's any help? Not the same thing I know.

skyrider007

Yes you can. Most high street banks will certainly be able to open a second current account for you.

cheekyweegit

Hi there,

Not sure what bank you bank with but I'm with the Royal Bank of Scotland and I've got two current accounts with them. One I've had for donkey's years, maybe 20ish and the other 4 years past Christmas.

One's got an overdraft, the other doesn't but did have up until recently but I never used it so the bank asked if I wanted it removed and I said yes.

Hope this helps.

Joey_3

In a similar vein, does anyone have two accounts with A&L?

I currently have the 8.5% A&L account for my joint account with my partner but I'm looking to change my personal account, would I be able to have another account with A&L?

dr_adidas01

Yeah it can be done, I have a Lloyds TSB Platinum Account which is my main account. I Also have a Classic Account which I use as a direct debit account.

janetteosborne

56cheffy wrote: »

As in the title:
Can you have more than one current account with the same bank?

I have a couple of BTL properties and I would like to keep things separate from home stuff and I dont want a buisness account.

Thanks

Hi

Yes, you can with the Nationwide. We have two accounts one for everyday spending and one which we transfer a large amount for the bills each month. Then we know how much comes out and only the bills from one and we have spending in the other. I know that Lloyds and Nationwide both do this - ask for a budget account and they will gladly allow you do it.

Cheers

JOsborne:j

Scousebird_2

Do you operate your BTL houses as a business and do you declare the income. Surely it's taxable and therefore has to be in a business account for tax purposes??

Correct me if i'm wrong but this was a thought that popped in my mind??

Night-owl_6

The simply answer is yes, so long as your current account with them has been operated correctly and that you pass the credit check, yes you will have to go through another the same as new customers!

56cheffy

Scousebird wrote: »

Do you operate your BTL houses as a business and do you declare the income. Surely it's taxable and therefore has to be in a business account for tax purposes??

Correct me if i'm wrong but this was a thought that popped in my mind??

Do you operate your BTL houses as a business (YES) and do you declare the income (YES). Surely it's taxable (YES) and therefore has to be in a business account for tax purposes?? (Not that I am aware of)

Poosmate

Hi 56Cheffy,

I am with HSBC and have 2 current accounts with them, 1 for bills and one for me.

I must admit I thought the same as Scousebird maybe you should seek some advice before you open a new account to use for your BTL finances through. It would be awful if they twigged 6 months down the line and started charging you and requesting backpayments too - it might just be worth shopping around to find out just how much a business account might cost you.

Hope this helps

Poo