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Moving current account to a new bank

(8 Posts)
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Nonogran Thu 31-Mar-22 20:26:21

I would like to close one of my current accounts with First Direct bank & move it over to a different bank.
I am struggling to find a normal account which does not require me to have at least two direct debits going out each month as this will be a mostly incoming account with occasional payments out for which I’ll need a debit card,
I’ve looked up several banking websites to see what’s on offer but I’m coming across hurdles I cant fulfil.
I’ve also been into Martin Lewis’ money saving website & followed up some of his leads but drawn a blank.
I need to reduce what I’m holding across the board with my current bank because the Financial Services Authority will only invoke protection up to £85 grand if a bank “goes under.”
Any ideas please,

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62Granny Thu 31-Mar-22 20:32:02

Have two accounts in two banks have DD between the two accounts every month e.g account 1 on the 2 nd of the month has 2 direct debit to account 2 on on the 15 th of the month you do it all in reverse. Would that work for you?

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Kim19 Thu 31-Mar-22 20:32:14

I have both RBS current & deposit a/cs. Neither has any particular demands or requirements whatsoever.

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Pittcity Thu 31-Mar-22 22:06:13

Could you use a purely online bank such as Starling or Monzo? Martin Lewis is recommending Chase this week which is app based and pays 1.5% interest on it's savings account that is linked to the current account.
None of these have rules on what must go in or out.

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crazyH Thu 31-Mar-22 22:09:01

Same as 62Granny

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mokryna Thu 31-Mar-22 22:24:36

I don’t have any direct debits with HSBC but I am problems with their non delivery of secure key pads, however you may not need those living in England.

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Keeleklogger Thu 31-Mar-22 23:01:57

Use Chase bank account, it also pays you 1% on all debit card purchases for 1 year

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Luckygirl3 Fri 01-Apr-22 09:24:29

I have pared my finances down to a simple situation: one current account and everything else in Premium Bonds.

I did have ISAs and so on, but I never knew where my money was and felt it was far too complicate and that I had to expend too much time on it instead of living.

We did have the Granny Bonds when they came out and made a fair bit on those.

My Premium Bonds make a good return.

I bank with the one that we joined on campus when we were at university - those bank on campus know what they are doing! - stayed with it for life.

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