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Which bank allows you to create sub accounts online through internet banking
 

Hi

It's a quick question, most banks will allow one customer to have multiple accounts, for example a

1) Current Account
2) Savings Account
3) Business Account

Some people have to have multiple business accounts with the same bank if they have multiple businesses.

What I would like to know is if any banks whose online banking system will allow you simply to just add a sub account online through internet banking?

Thanks in advance

Good question - if you are referring only to UK system then all the best.

i have no problem with hsbc to have 2 business account linked to the same business banking. i can't see why it should be a problem?

i just read the sub account bit... in my case they are two legal entities. not sure what you mean under sub-account...

Bank of America offers this, as many businesspeople use different accounts to keep money segregated for tax purposes.

Once you have been approved, it should be no problem for get a couple of new accounts. A rep actually told me that one customer has over 100 accounts with BOA. They don't seem to think anything of it.

I've heard halifax (think abbey also) allow online savers accounts that can be set up in a matter of minutes, you get the sort code and account number straight away, dont quote me though, cos its only something I heard!!

@jason, you needs watch Halifax savers. They are not recommended. Accounts need the direct debit mandate or be known as current accounts.

@autosweeper, sighs. There's many accounts in the UK that allow this.
I recommend RBS. :pop2:

Look at the well known High Street banks and check what t'internet options they offer :spy:

thanks a lot for the feedback

as a matter of fact its painfully slow with barclays as they require you to go down the branch with each additional account and re supply identifaction documents, not that this is a problem but an online option would be easier.

thanks a lot for the pointer gb i'll talk to rbs

I'm in the USA of course... but I do use HSBC, very well. I've got 11 online savings with them at the moment.

hi bank of scotland/halifax let you have multiple accounts i have 3. you can apply online too.
hope this helps

If you already have an account with Natwest and you have online banking, you can easily log on to your online banking and open up numerous savings accounts which work perfectly with paypal so you can verify it and withdraw money to it...!!!


They even tell you your sort code and account number on the last page of the savings account creation so you dont need to wait the 4-7 days for it to come in the post...!!

Are we sure that you still need a current account ??

i have just signed up for a business pp account and had the option of using a savings account or current .

i didn't have a savings account to see if it worked so used my current


i have used an ISA that allows dd although its not supposed to but thats not the same thing .

you could always add a savers, but whether it was compatilbe once added, was hit and miss so was avoided by us..

hmm, ok if savers are tested, list them here, thats a good thing..

savers often have minimum deposit requirements though right?

has anyone changed their existing current account number to a new one?

if so what was the process? :deadhorse:

Process is to ask bank to close account and open new one for own security purposes. Banks can do that with minimal problems.

I believe there is a cooling off period for closing an account. This is to resolve any outstanding issues which *may* result related to transactions with the account.

Sounds alot like PP donit?

Still better to close an account than leave dead ones open.

Yes i know that, i just cant remember seeing an option to add one for verifcation.

100% llodys isa works and you can open them online if you already have an account .

Smile are the best in my opinion. No fuss, just straight with what you need.

I firstly opened a savings account thinking that I could use it as a bank account but as it doesn't accept direct debits I couldn't - Although it was still useful to link to my eBay.

Then with no hassle I opened a current account within the space of 24 hours. Sent me the documents through the post and even gave me an overdraft limit of £500 pounds. There is also option for other accounts such as a Smilemore Account and an ISA.