Changing Current Account (but keeping savings etc)

DorsetDude

DorsetDude

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Hi has anyone done the switch to a different current a/c?

Im with barclays and also have about 5 savings accounts with them, one I top up monthly for car and house bills, one for general savings, an ISA and so on.

If you swap *current* accounts can you keep your savings a/c in the original bank? Also I wonder will the swapping process amend the standing orders so that I still keep topping up the relevant savings a/c in barclays? Maybe until I get round to moving them. Will barclays let me have just saving accounts I wonder if Im not putting my salary in once a month to a current.

Can anyone recommend a bank to switch to? I fancy either first direct or Halifax and get the £100 for swapping thing, why not.

Cheers!
 
Personally I wouldn't be swapping just for £100 I would have to be also unhappy with my bank.
As to savings why don't you look at better vehicles for that the bank will be giving you very little return.
try virgin money.
 
We swapped current accounts last year. We were with Co-op bank and had two savings accounts and two children's accounts with them. We still have one of the savings accounts and the two childrens, the other savings account was linked to the current account so closed at the same time we switched. You would probably need to check the terms of the savings accounts but if they are not linked to the current account (the one we closed could only be opened at the time if you had a current account) then there shouldn't be any problem keeping them.

It was a pretty painless experience transfering over, the banks sorted all the automatic payments (DD, SO's etc), I would have thought if the transfers to your savings accounts are SO's that they would get swapped across to the new account the same as any other.

We went with first direct due to recommendations from friends, particularly about there customer service and we have been happy with them so far but have also not had any issues so cannot comment personally on their customer services.
 
DorsetDude said:
Hi has anyone done the switch to a different current a/c?

Im with barclays and also have about 5 savings accounts with them, one I top up monthly for car and house bills, one for general savings, an ISA and so on.

If you swap *current* accounts can you keep your savings a/c in the original bank? Also I wonder will the swapping process amend the standing orders so that I still keep topping up the relevant savings a/c in barclays? Maybe until I get round to moving them. Will barclays let me have just saving accounts I wonder if Im not putting my salary in once a month to a current.

Can anyone recommend a bank to switch to? I fancy either first direct or Halifax and get the £100 for swapping thing, why not.

Cheers!
Click to expand...



It's possible to set up a ring of accounts and bounce funds from A to B to C etc. and back to A. And, yes, it's possible to have savings in Barclays but do other banking elsewhere - Mrs Nod swapped recently.

If you can leave the savings untouched for 12 months, there is an easy way to get 1.45% return or 2.15% (gross, pa) if you can leave the funds in for 3 years - look at nsandi.com for more info. Bear in mind that I'm not an investment guru so there may well be even better deals available at a greater risk.
 
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