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You can open unlimited savings accounts, but the risk is too great.

I go for 1 current and 5 savers per bank.

[blobby]

Originally Posted by peghmeypong

11 is too many at one bank.

That may well be your opinion but it wouldn't be based on fact and would be incorrect.

There is a general rule of 5 savers to a bank account as a max. However that is a very basic presumption and should only be used as a guide.

There are some banks I wouldn't even risk 5 with, and only have 4 and would never go above that with them.

There are two others that spring to mind, one of which is Santander, where there is no problem having around 10 - 12 accounts if opened correctly.

Most banks terms and conditions do say you can open unlimited savings accounts.

However some users have reported issues when opening too many at once.

5 is the limit advised here at the forum. It doesn't mean you can't have more or less. Just that 5 is a safe number for the majority.

[blobby]

Originally Posted by just_smile

However some users have reported issues when opening too many at once.

I think this is a major point. Mine were opened over several years.

Too many people want to rush opening bank or saver accounts and want to have 15 or 20 opened in a month or two because they have just been booted off ebay and need that many stealth accounts to compensate for account limits they may have lost.

Bank and saver accounts should always be opened slowly and steadly over a long period of time.

Originally Posted by blobby

That may well be your opinion but it wouldn't be based on fact and would be incorrect.

There is a general rule of 5 savers to a bank account as a max. However that is a very basic presumption and should only be used as a guide.

There are some banks I wouldn't even risk 5 with, and only have 4 and would never go above that with them.

There are two others that spring to mind, one of which is Santander, where there is no problem having around 10 - 12 accounts if opened correctly.

No, that's the forum's recommended advice.

If you were to, perhaps, spend a little time reading and maybe slightly less time telling actual experienced stealthers they are wrong, you'd know that.

Thanks.

[blobby]

Originally Posted by peghmeypong

No, that's the forum's recommended advice.

If you were to, perhaps, spend a little time reading and maybe slightly less time telling actual experienced stealthers they are wrong, you'd know that.

Thanks.

Yes, If you read what I wrote you would see I acknowledged it was a BASIC rule and should only be used as a GUIDE. Because if people open 5 savers with certain banks, they may well get a nasty shock. My advise to new stealthers would actually be don't open more than 3 savers at any bank to start with, over a period of time and spread the risk. I am not in that catagory though and my question was actually directed at a specific member, whom I was trying to get specific info from hence highlighting his quote, before you decided to ambush and derail yet another thread through your constant trolling.

However as an experienced stealther of many years, I feel qualified to tell people they can open more at a limited number of banks if they operate correctly over a long period of time with no problem.

You are however WRONG to say 11 accounts at any bank is too many, far too general and sweeping a statement, which is factually incorrect, and just shows how ignorant you are.

Keep it up though, at the end of the day people can make there own minds up.

[JamesNorth101]

Most the time 11 accounts at a single bank would be too much but you are right in that it is possible to have that many if not more if done over years with certain banks. As a general rule though 4/5 would be the maximum advised.

[blobby]

Originally Posted by JamesNorth101

Most the time 11 accounts at a single bank would be too much but you are right in that it is possible to have that many if not more if done over years with certain banks. As a general rule though 4/5 would be the maximum advised.

There are VERY few banks that would let you have more than 6 though IMO, no matter how long you have been with them and no matter what your relationship. That is why I would only recommend 2 to do it with but it is very much a long term plan and not something that should be done in less than a few years.

I am actually even more conservative than you on the whole and wouldn't recommend as a 'general rule' to new stealthers opening more than 3 or 4 with a single bank and that would still need to take into account how many current/basic accounts you have with them also. For a new stealther there is no need to have more really.

Originally Posted by blobby

Yes, If you read what I wrote you would see I acknowledged it was a BASIC rule and should only be used as a GUIDE. Because if people open 5 savers with certain banks, they may well get a nasty shock. My advise to new stealthers would actually be don't open more than 3 savers at any bank to start with, over a period of time and spread the risk. I am not in that catagory though and my question was actually directed at a specific member, whom I was trying to get specific info from hence highlighting his quote, before you decided to ambush and derail yet another thread through your constant trolling.

However as an experienced stealther of many years, I feel qualified to tell people they can open more at a limited number of banks if they operate correctly over a long period of time with no problem.

You are however WRONG to say 11 accounts at any bank is too many, far too general and sweeping a statement, which is factually incorrect, and just shows how ignorant you are.

Keep it up though, at the end of the day people can make there own minds up.

Blobby,

This thread was set up by somebody who is struggling to open a single savings account because they are being questioned by their bank manager. This is not the 'Blobby is awesome and has 11 bank accounts' thread.

You coming on here talking about having 11 accounts with Santander is unhelpful and dangerous to the new, inexperienced member is rather thoughtless.

You may feel that me insisting it is clear to new members that opening 11 accounts is a bad idea is 'ignorant'.

However, I'm more than happy to have you insult and criticise me in every which way if it means new members aren't mislead by your thoughtlessness.

[JamesNorth101]

Originally Posted by blobby

There are VERY few banks that would let you have more than 6 though IMO, no matter how long you have been with them and no matter what your relationship. That is why I would only recommend 2 to do it with but it is very much a long term plan and not something that should be done in less than a few years.

There are 6 or 7 about.

Opening that many with a single bank always seems a bit like too many eggs in a single basket.

While its pretty easy to get 5 with most banks, I personally still stick to just 3 per bank. 3 savings accounts across 20 odd banks that are easy to get accounts within in the UK offers more than enough bank accounts for 99% of stealth users.

[arktech]

i have e smile current accounts open plus 3 smile savers and closed and opene them over th eyears but not sure what latest situation is. alos have a cooperative bank account open a coop clubs and society account open. (crafting club ) as well. The crafting club raises fund by selling donated items on ebay.