Closing a bank account that I been using for many years

16
Posted 19th Jan
I am looking into accounts that give me the greatest return on using it as my main bank e.g., salary, bills and mortgage - and lloyds seems to be a good fit. I have been with Santander for 12 years but since I be using lloyds for all my daily expenses, there will be hardly any transactions in my Santander, other than if I do standing out form lloyds or transfer money over every now and then. So I am thinking of closing my Santander account - considering I been with them for over 12 reasons, any reason I should keep them as well e.g., bank statement proofs.

Anyone else went through something similar?
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16 Comments
No
Not really only if tax man knows about the account then you need to show him that you have closed it. Just get a Stirling online account if you don't use much give you intrest every month.
If your not using the account may as well close it.
If you haven't already opened a Lloyd account, they can arrange to transfer everything across to them from your existing Santander account and close your old account for you ..
So there are no benefits for me to just keep it for the sake of it?
adamey1919/01/2020 15:41

So there are no benefits for me to just keep it for the sake of it?



nope
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adamey1919/01/2020 15:41

So there are no benefits for me to just keep it for the sake of it?


Nyet.
Why don't you put 2 DDS in it and transfer to HSBC for £175
tomdavidrichards19/01/2020 16:10

Why don't you put 2 DDS in it and transfer to HSBC for £175


I have already switched to HSBC in 2018, according to the terms I don't qualify again until 2021 I think but other really good idea.
First direct £100
tomdavidrichards19/01/2020 16:18

First direct £100


switched to that too I switched to all banks already expect M&S, might switch Santander to them and then close it
Does M&S count for the transfer if you've previously had a First Direct and/or HSBC one (just with them all being same company?).
markmc99919/01/2020 16:38

Does M&S count for the transfer if you've previously had a First Direct …Does M&S count for the transfer if you've previously had a First Direct and/or HSBC one (just with them all being same company?).


Last time I checked it didn't mention any other bank but I needed 4 direct debits which I did not have at that time. So I probably say, M&S is separate to them and for that matter, I switched to HSBC and First Direct in the same year and received payout for both so I probably say they are also treated as separate
adamey1919/01/2020 16:59

Last time I checked it didn't mention any other bank but I needed 4 direct …Last time I checked it didn't mention any other bank but I needed 4 direct debits which I did not have at that time. So I probably say, M&S is separate to them and for that matter, I switched to HSBC and First Direct in the same year and received payout for both so I probably say they are also treated as separate


Nationwide?
If you use the switching service they close your old account anyway.
baalberith19/01/2020 15:32

Not really only if tax man knows about the account then you need to show …Not really only if tax man knows about the account then you need to show him that you have closed it. Just get a Stirling online account if you don't use much give you intrest every month.


starling doesn't offer any benefits/cashback for bills
markmc99919/01/2020 16:38

Does M&S count for the transfer if you've previously had a First Direct …Does M&S count for the transfer if you've previously had a First Direct and/or HSBC one (just with them all being same company?).


Yes all separate
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