Bank accounts

[Yellow Fang]

I have been thinking I should change my bank account to one of those instant access cash savers. My bank nags me to do it when I go in. However, if I do that, does that mean I would need a new card, transfer all my direct debits, standing orders and stuff, and tell everyone I need to tell my account has changed? If that's the case wouldn't it be as easy to change banks.

 

[paddy01]

You don't say who you bank with, but if they have online banking then if you want a savings accounts like an ISA etc. then why not open a second account with the same bank and use online banking to move savings into it? Keep your existing account as your daily current account.

 

[xxmimixx]

They are only nagging you to because the cashiers gets bonuses on how many referrals and accounts they open. It sounds like a book account in which case it wouldnt very be very practical to use as you main account where your wages gets paid into, as obviously you wont be able to make any purchases on a book account as you would on a card account. Nowadays if you use online banking, the savings account linked to your online banking give you just as good interest rates, if you are thinking of saving.
With regards direct debits, they give you a form to fill and they do all the paperwork which means you dont have to inform all your creditors.