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Current Accounts

Discussion in 'General Discussion' started by ZeroG, Feb 9, 2016.

  1. Zefan

    Don

    Joined: Jan 15, 2006

    Posts: 29,157

    Location: Tosche Station

    Lloyds is higher than Santander isn't it? Admittedly only up to 5k on the current.
     
  2. Redgie

    Wise Guy

    Joined: Nov 18, 2008

    Posts: 2,430

    Location: Liverpool

    Provided you don't need to apply for credit/loans/mortgages any time soon. Otherwise turning over 10 current accounts in 24 months looks a bit odd.
     
  3. Freakbro

    Capodecina

    Joined: Jul 29, 2010

    Posts: 15,673

    Location: Lincs

    You don't turn them over, only the first direct one offers money on leaving, so that's the only one you would look at closing, the rest you keep open.

    The others you mainly earn that amount of money from the interest on the account, so you need quite a bit to start with to max out the limits (like ~£40k)
     
  4. Redgie

    Wise Guy

    Joined: Nov 18, 2008

    Posts: 2,430

    Location: Liverpool

    You're talking about normal interest, he (and subsequently I) was referencing Peerzy's post on switching bank accounts to earn money:

     
  5. Freakbro

    Capodecina

    Joined: Jul 29, 2010

    Posts: 15,673

    Location: Lincs

    Hmm, yea, I didn't think there were £1000 worth of switch incentives out there, but maybe there is if you look at the smaller/more obscure banks like Clydesdale, M&S etc
     
  6. Peerzy

    Soldato

    Joined: Nov 9, 2008

    Posts: 6,727

    Some of them have now gone but new ones do pop up. The recent ones I've done are;

    First Direct
    M&S
    Halifax
    Nationwide
    TSB
    Clydesdale
    Yorkshire
    Santander (Quidco)

    The Yorkshire one you can actually do multiple times, people on MSE got over £1000 just from them as an example.
     
  7. Zatoichi.uK

    Mobster

    Joined: Sep 13, 2005

    Posts: 2,674

    Switched to Santander 123 last year and it was quick and painless. Earning around £20 per month currently that I wasn't before. Can't argue with that.
     
  8. MaX_PoWah

    Wise Guy

    Joined: Oct 18, 2002

    Posts: 1,941

    Location: Sheffield

    I didn't realise you can do it with second "current account" bank accounts. For example Halifax will give you the bonus if you move a current account from somewhere else even if you do it to set up a second "current account".
     
  9. mame

    Sgarrista

    Joined: Jul 16, 2007

    Posts: 7,682

    Location: Stoke on Trent

    co-op now offer a current account that pays you £4/month plus 5p for each time you use your debit card up to a maximum of 30 times a month so you'd get between £4 and £5.50
     
  10. Basher

    Soldato

    Joined: Oct 18, 2002

    Posts: 7,403

    Yep, same with joint accounts. At Santander you can have a current account each and a joint account = 3 lots of Interest :)
     
  11. PapaLazaru

    Capodecina

    Joined: Dec 23, 2009

    Posts: 17,528

    What went wrong?

    I have found their CS to be flawless. They impress me every time I call them.
     
  12. anything I don't mind

    PermaBanned

    Joined: Dec 28, 2009

    Posts: 13,054

    Location: london

    I have been considering moving to that santander account with 3% interest on the balance.
     
  13. Basher

    Soldato

    Joined: Oct 18, 2002

    Posts: 7,403

    Their CS is great, but I called them maybe once every 6 months. They didn't provide much of an incentive to stay vs getting £100 a month from Santander.

    Also, I've called Santander maybe 2 times and have not had a single issue.
     
  14. PapaLazaru

    Capodecina

    Joined: Dec 23, 2009

    Posts: 17,528

    Your post indicated they had caused you problems, not just because they did not offer you money to stay!

    2 calls and not a single issue is hardly a measure of competency either. :D

    Unless they have made significant improvements over the last 2 years I would not touch them with a bargepole, £100 or not.

    They have lost cheques of mine on more than one occasion worth way more than that.
     
  15. The_Abyss

    Capodecina

    Joined: May 15, 2007

    Posts: 12,108

    Location: Ipswich / Bodham

    I've been with FirstDirect for years. Great service, as others have said, but little other incentive. I've been keeping a watch on the developments at Atom Bank just to see what the challengers may offer.
     
  16. Basher

    Soldato

    Joined: Oct 18, 2002

    Posts: 7,403

    No, it says it's the best thing I have done. I get paid £1,200 a year to be with Santander which is a whole lot better than any deal FD gave me.
     
  17. TheOracle

    Capodecina

    Joined: Sep 30, 2005

    Posts: 11,514

    I've been with Natwest for years. Don't know why though, I've never received any loyalty rewards. My friend who uses Nationwide always seems to be getting freebies.
     
  18. Redgie

    Wise Guy

    Joined: Nov 18, 2008

    Posts: 2,430

    Location: Liverpool

    Time to switch :) Or at least start taking advantage of RBS/NatWest's cashback deals!
     
  19. Uther

    Capodecina

    Joined: Jun 16, 2005

    Posts: 10,283

    Do it, took me about ten minutes. We have two 123 accounts now, easy money.
     
  20. Redgie

    Wise Guy

    Joined: Nov 18, 2008

    Posts: 2,430

    Location: Liverpool

    Yup, and lots of it too!

    Just a note to everyone considering it though, if you're going to have less than £9,200 in a Santander 123, you're better off with a Club Lloyds!