Clarification on making saving accounts work in the UK?
Hello all, I'm new here so please don't be too harsh. I've read a lot but I'm sure there's plenty more to learn.
I'm wanting to check a few things
1) At what point do the banks start asking why I need so many accounts? I have my main current account with the co-op and an old current account with the halifax, these were linked to my suspended ebay account. I have since set up the following; 3x natwest instant savings accounts, 2x halifax online savings accounts and 2x coop online savings accounts. I also have 2x old yorkshire bank basic accounts that have been unused for 8 years, apparently I can reactivate these if I go into branch but for now they are dormant. Am I taking the mick?
2) Would the bank be suspicious if I used the account to verify, withdrew some cash from the paypal (in a different name), then closed the account and opened another? All the while, using it for nothing else?
3) How can I limit the damage to my credit rating? Does the account type matter, or does the application itself have a negative impact?
4) The exact process for adding saving accounts is unclear. I know the DD will be rejected if left on there long term, so should I add the savings account, get the 2x deposit amounts, verify then remove the card? Adding it later for withdrawal? Or do I need a different savings account added for withdrawal?
Sorry if these are newbie questions but I can't seem to find clear answers anywhere.
X
|