Switching accounts

keef-WhatStandards · 12 May 2018 at 4:09PM

I am looking to switch my Santander 123 account into my Barclays one. According to moneysavingexpert.com this is possible, but using the link on there just results in a new account being set up, as does using a link provided by Barclays.

I'd like to keep my Santander account open, but transfer it to a non-fee paying one, but Santander seem even less helpful than Barclays. Can anyone offer a link as to how I go about this please? Given the current switch insentives, you would think banks would be helpful so as to retain customers.

eskbanker · 12 May 2018 at 5:04PM

keef-WhatStandards wrote: »

I am looking to switch my Santander 123 account into my Barclays one. According to moneysavingexpert.com this is possible, but using the link on there just results in a new account being set up, as does using a link provided by Barclays.

https://www.barclays.co.uk/current-accounts/switch-bank-account/ states that the process is

Step 1: Open your new account online. Or visit a branch if you already have a Barclays current account

and the need to switch in-branch is referred to quite a lot in the main thread on this offer at https://forums.moneysavingexpert.com/showthread.php?t=5837228

keef-WhatStandards wrote: »

I'd like to keep my Santander account open, but transfer it to a non-fee paying one, but Santander seem even less helpful than Barclays. Can anyone offer a link as to how I go about this please? Given the current switch insentives, you would think banks would be helpful so as to retain customers.

If you use the Current Account Switching Service to benefit from the above offer then it'll close your Santander account, so if you want a Santander account and a Barclays one then you'll need to open an extra Santander one to use to switch, or open a new one after you've switched away.

keef-WhatStandards · 12 May 2018 at 5:16PM

Thanks. I did try online, but just ended up with multiple accounts. I was expecting to be able to use my existing account.

I'll have a read of the other thread: thanks.

I thought the account closure was only done if the bank is CASS, whatever that is.

I do have another Santander account, but the reason for me wanting to switch the 123 one is because I am being charged. The interest no longer covers the charge since they increased the fee and decreased the interest.

and Santander aren't interested in switching my account to a non-fee paying one!

Nebulous2 · 12 May 2018 at 5:54PM

Changing your Santander account is likely to require a phonecall.

I found switching from a 123 to a 123 lite very straightforward. Done and dusted in about 10 minutes. Kept the same sort code and account number.

Katiehound · 12 May 2018 at 6:34PM

switching an account automatically closes the existing account unless you opt for a partial switch in which case you (generally) will not qualify for any 'goodies'
If you want to partake in the switching deals, now or in the future, it is always handy to have a basic 'donor ' account already opened which can be groomed to satisfy the t&cs.

keef-WhatStandards · 12 May 2018 at 6:39PM

My point is they seem to prefer losing customers rather than reversing what they originally did to my Abbey National account to make it a 123 one.

keef-WhatStandards · 12 May 2018 at 6:53PM

You are forgetting "But if you'd rather keep your old account open, or your old or new bank is one of the few not signed up to CASS," as quoted from moneysavingexpert.com.

I have other accounts I can use, but I want to use the 123 account as it has two active direct debits and no longer pays 3% plus the fee has gone up from £3 to £5.

AirlieBird · 12 May 2018 at 8:02PM

keef-WhatStandards wrote: »

I am looking to switch my Santander 123 account into my Barclays one. According to moneysavingexpert.com this is possible, but using the link on there just results in a new account being set up, as does using a link provided by Barclays.

I'd like to keep my Santander account open, but transfer it to a non-fee paying one, but Santander seem even less helpful than Barclays. Can anyone offer a link as to how I go about this please? Given the current switch insentives, you would think banks would be helpful so as to retain customers.

keef-WhatStandards wrote: »

Thanks. I did try online, but just ended up with multiple accounts. I was expecting to be able to use my existing account.

I'll have a read of the other thread: thanks.

I thought the account closure was only done if the bank is CASS, whatever that is.

I do have another Santander account, but the reason for me wanting to switch the 123 one is because I am being charged. The interest no longer covers the charge since they increased the fee and decreased the interest. and Santander aren't interested in switching my account to a non-fee paying one!

I think you may be confused. To switch an account you need to open a new account with the new bank and switch the existing account into the new account. It isn't a case of the existing account just been reallocated to the new bank.

If you are switching because you want to avoid the fees, then why are you leaving the 123 account open?

keef-WhatStandards · 12 May 2018 at 8:15PM

No, not confused; at least not about switching. Got my £125 (I think) off of Halifax a while back.

The reasons I want to keep my Santander account are that I use it to transfer monies into and secondly it is a useful "donor" account (see reply from Katie above). What I don't want is a fee paying 123 acciunt, which is why I asked Santander to change it back to a standard current account.

p.s. I like to wear a lose jacket this weather, if I put it down I might loose it. LOL

Switching accounts

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