Do You Have More Than One Bank Account?

I slimmed mine down a lot recently.

HSBC - current, salary goes here for cheap rates on loans
Monzo - daily spending & bills

I may have some savings accounts with not much in them, but I closed all the accounts below within the last year, mostly due to not needing them or the benefits no longer being better than the monthly fees.

Lloyds Current Account - in-case others go bad
Natwest Current Account - Direct Debit cashback
Santander - Cashback
Starling - Bills / trialing

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In this use case, whatā€™s the benefit over spending direct from Monzo card?

It was because I could have a secondary card that my partner could use

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Monzo - primary current account

Halifax savings account - Had a current account with Halifax and also the savings account before I moved to Monzo. Keeping my savings in my Halifax savings account as whilst I trust Monzo (and my money would be covered by the FSCS guarantee), thereā€™s (currently) no benefits to moving it out and I wouldnā€™t get any interest either.

Starling - Holiday money and a shiny purple card to show-off.

Revolut - I got the card free, and also handy for travel.

Use the Current Account Switch Service in Monzo to automatically close your TSB account, as you wonā€™t need to deal with TSB at all (catastrophic IT failureā€“induced ballsā€“ups notwithstanding).

Even better, lots of banks give away free money (up to Ā£125) if you switch to them, so why not use your TSB account as the CASS donor for one of these?

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That was the first thing I did\tried but it failed at TSBā€™s end so I did it manually.
Iā€™ve yet to go into the branch to close the account

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Poor TSB. Such high hopes.

I do wonder when they pull through the current shit show, if their owner Banco Sabadell will have a change of heart over the separate branding for the UK, and euthanise the TSB brand for the good of putting it all behind them.

Itā€™s not too dissimilar:
image

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Couldā€™ve been worse. At least they didnā€™t switch somebody elseā€™s account, nor cancelled his direct debits for ā€œaccount holder deceasedā€ (Iā€™m not joking - check the TSB thread for such gold).

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Yeah, there have been companies that have done that before to change perception

OMG :open_mouth:
They are poo

That was a golden opportunity for an emoji

:poop:

I have monzo and two virgin money accounts

Virgin money essentials current account - there new current account paying interest of 0.75%

Virgin money current account - this account was northern rock account and discontinued to new customers but I keep it as I have a cheque book on it which virgin money want give on my other account though one is available so I have to keep the two accounts as this has very little interest 0.01% but lucky to have interest though but no virgin money account has full internet banking and app access yet but itā€™s comong in the future but still not happened

I have two current accounts with permanent tsb in Ireland I have one current account with KBC Ireland and three current accounts with AIB in Ireland

I also have revolut card and I can do international transfers on that back and forward with out effecting the money I have as I have the real rate and can do top ups in euros so I donā€™t get non Euro fee

All from living in the UK

Legacy banks have frozen me out off accounts cause I changed like the weather at times and they are fed up with me so I joined monzo and Iā€™ve been happier

Tsb will say your dead when you switch account

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The FCA will say theyā€™re dead when they revoke their banking license. :joy:

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Tsb fiasco went beyond belief when people switching from tsb to another bank was classed as dead or deceased meaning the bank you switch to stop your account you have how bad is that

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To be fair, that was a simple admin error where they gave the wrong code on a redirected direct debit. They returned code ā€˜25ā€™ instead of ā€˜24ā€™ or whatever, which turned out to be the code for customer deceased, by accident. It couldā€™ve been any incorrect code to be honest, it wasnā€™t widespread (it was only a couple of people) and itā€™s only worth Daily Mail levels of outrage.

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Monzo for my salary, direct debits and spending
B by Clydesdale for scanning cheques
Santander for back up

Oooā€¦ Long listā€¦ Can I remember them all:

  • Monzo ā€“ main day to day CA now; Originally used the Monzo PP as an ā€˜oyster replacementā€™
  • First direct ā€“ had it for years - most of my money goes through here at least once!!
  • Santander ā€“ used as ā€˜savingsā€™ (not as good as it wasā€¦)
  • Nationwide ā€“ rarely used
  • Metro ā€“ For good rate/no charges spending in EUR zone (holidays, business trips)
  • Revolut ā€“ For EUR/USD spending - either holiday (EUR) or stuff from Chinese web vendors (USD)
    I had a couple more but I trimmed things a littleā€¦ should do some moreā€¦

Itā€™s all the fault of the banks in the 80ā€™s offering stuff for kids with their accounts ā€“ my dad encouraged me to open accounts at all of the banks to get the freebies!

Monzo - slowly becoming my main account
Starling - used for certain direct debits and standing orders
First direct - still my main account for salary & bills and joint account
HSBC - still to decide what to do with this
Barclays joint - to CASS to Monzo joint when ready
TSB - closes just before the meltdown when they finally accepted I had one open with them.

Monzo my only main nowā€¦ Does me perfect. Had a Yorkshire bank and HSBC before, but all legacy banks are a pain for me. When i went through a rough patch last year no bank would helpā€¦ Plus all CS not fit for it purpose.

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