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  • FIRST POST
    • Samsung_Note2
    • By Samsung_Note2 13th Feb 18, 5:25 PM
    • 462Posts
    • 184Thanks
    Samsung_Note2
    Switching accounts..worth keeping ?
    • #1
    • 13th Feb 18, 5:25 PM
    Switching accounts..worth keeping ? 13th Feb 18 at 5:25 PM
    Ok so i now find myself in the position of having several accounts and only use 2 of them regular.

    Main account is B which i really cant fault...nice and easy to use and is salary account and direct debits.

    Second is Halifax..transfer each month my day to day spending money.

    Natwest (just waiting on bonus)..HSBC Advance (just received bonus),First Direct which i dont pay fee"s on as have Credit card with them.

    Any real reason to keep the three accounts above..i hear people state 1st direct and HSBC can be picky on who they accept,just wondering what benefit in keeping them,only save a small amount each month so can do that with either B or Halifax.

    Looking at Remortgage in september if that makes any difference.
    If my appalling spelling offends you that much...dont read my posts.
Page 1
    • binaryuniverse
    • By binaryuniverse 13th Feb 18, 9:56 PM
    • 686 Posts
    • 434 Thanks
    binaryuniverse
    • #2
    • 13th Feb 18, 9:56 PM
    • #2
    • 13th Feb 18, 9:56 PM
    How long is a piece of string? Whether or not you should keep an account depends on how it benefits YOU, not us.

    I keep my accounts as they give rewards, interest, or rewards to access to high interest regular savers. That's what benefits me. I only use two for day to day spending.
    • Samsung_Note2
    • By Samsung_Note2 14th Feb 18, 9:50 AM
    • 462 Posts
    • 184 Thanks
    Samsung_Note2
    • #3
    • 14th Feb 18, 9:50 AM
    • #3
    • 14th Feb 18, 9:50 AM
    How long is a piece of string? Whether or not you should keep an account depends on how it benefits YOU, not us.

    I keep my accounts as they give rewards, interest, or rewards to access to high interest regular savers. That's what benefits me. I only use two for day to day spending.
    Originally posted by binaryuniverse
    Sorry but thought that's what i just asked..savings aside (dont use any of the three for savings) is there any benefit in keeping them,for instance would a decent APR credit card be offered or preferential rates on mortgages,if that's the case id look at moving money through an account rather than leaving it dormant.

    If that's not likely to happen then will simply close them down and continue to wonder why people insist 1st Direct and HSBC are choosy in who they offer accounts to,dont seem anything special to me..
    If my appalling spelling offends you that much...dont read my posts.
    • beefturnmail
    • By beefturnmail 14th Feb 18, 9:52 AM
    • 703 Posts
    • 223 Thanks
    beefturnmail
    • #4
    • 14th Feb 18, 9:52 AM
    • #4
    • 14th Feb 18, 9:52 AM
    Potential mule accounts for future switch bonuses?
    • Samsung_Note2
    • By Samsung_Note2 14th Feb 18, 1:34 PM
    • 462 Posts
    • 184 Thanks
    Samsung_Note2
    • #5
    • 14th Feb 18, 1:34 PM
    • #5
    • 14th Feb 18, 1:34 PM
    Potential mule accounts for future switch bonuses?
    Originally posted by beefturnmail
    That was initial thoughts..but think i've hit every single switch.

    Assuming an account that's not used will be of benefit when looking at remortgaging,was told 1st direct have some good deals,could move money through that if needed.
    If my appalling spelling offends you that much...dont read my posts.
    • Kim_13
    • By Kim_13 14th Feb 18, 1:55 PM
    • 1,901 Posts
    • 2,035 Thanks
    Kim_13
    • #6
    • 14th Feb 18, 1:55 PM
    • #6
    • 14th Feb 18, 1:55 PM
    First Direct and HSBC Advance are worth keeping for the 5% Regular Savings accounts that they allow you to hold. HSBC will take 250 per month and First Direct 300.

    There is also additional money to be made by keeping the accounts at this stage - HSBC will give an extra 50 after a year if you meet the criteria, see here: https://www.moneysavingexpert.com/banking/compare-best-bank-accounts#hsbc

    First Direct also have a leaving bonus after 6 months, but it would mean closing your credit card and any other accounts with them, see http://www1.firstdirect.com/1/2/banking/switching-bank-accounts
    Last edited by Kim_13; 15-02-2018 at 10:26 PM. Reason: Broken link
    Sealed Pot 11 #520 ~ /100
    VSP 2018 #9 ~ 19.55/180.00
    CCCC 2018 #1 ~ 20.75/180.00
    • beefturnmail
    • By beefturnmail 14th Feb 18, 2:54 PM
    • 703 Posts
    • 223 Thanks
    beefturnmail
    • #7
    • 14th Feb 18, 2:54 PM
    • #7
    • 14th Feb 18, 2:54 PM
    That was initial thoughts..but think i've hit every single switch.
    Originally posted by Samsung_Note2
    Every switch which is available today...
    • ValiantSon
    • By ValiantSon 14th Feb 18, 7:38 PM
    • 2,034 Posts
    • 1,887 Thanks
    ValiantSon
    • #8
    • 14th Feb 18, 7:38 PM
    • #8
    • 14th Feb 18, 7:38 PM
    Ok so i now find myself in the position of having several accounts and only use 2 of them regular.

    Main account is B which i really cant fault...nice and easy to use and is salary account and direct debits.

    Second is Halifax..transfer each month my day to day spending money.

    Natwest (just waiting on bonus)..HSBC Advance (just received bonus),First Direct which i dont pay fee"s on as have Credit card with them.

    Any real reason to keep the three accounts above..i hear people state 1st direct and HSBC can be picky on who they accept,just wondering what benefit in keeping them,only save a small amount each month so can do that with either B or Halifax.

    Looking at Remortgage in september if that makes any difference.
    Originally posted by Samsung_Note2
    As there is the potential for future switching bonuses, then having accounts already set up and ready to go puts you in an advantageous position. I see no reason to close these accounts, as long as you can continue to meet the terms and conditions.

    That was initial thoughts..but think i've hit every single switch.
    Originally posted by Samsung_Note2
    You don't know what might be offered in the future. Not many people were expecting the Yorkshire Bank/B offer, nor the NatWest one.

    First Direct and HSBC also have linked regular savers allowing you to save 550 p/m between them (300 First Direct and 250 HSBC) at 5%. This is a pretty good reason to keep them both open. Even if you don't have the spare money to make use of these now (although any that you do would be well placed in these) you might in the future, so keeping your options open makes sense.
    Last edited by ValiantSon; 14-02-2018 at 7:40 PM.
    • Samsung_Note2
    • By Samsung_Note2 15th Feb 18, 9:23 PM
    • 462 Posts
    • 184 Thanks
    Samsung_Note2
    • #9
    • 15th Feb 18, 9:23 PM
    • #9
    • 15th Feb 18, 9:23 PM
    Well think im going to give HSBC the elbow as just had the switch bonus and still cant fully use the Online banking.

    Opened a 12 month saver with them and after the 15 or might have been 16th call over the last several weeks to resolve the activation key (was told go into branch as they couldn't help over the phone...went into branch and the woman said how could she issue a digital activation key).

    So any and all transfers out of the account had to be verbal over the phone,now they have transferred Money twice by mistake,both amounts have hit my Halifax.

    Wasn't aware until chap who done the last transfer called me and made me aware...when asked if i was liable to repay it,he said No....hmmm really but went onto say expect a letter to clarify what happened.

    Complete shambles and all down to requesting numerous times a damn activation key.
    If my appalling spelling offends you that much...dont read my posts.
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