How many bank accounts should you have? Watch

aj4660
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How many do you have? i got 2 current accounts. but only use 1.
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Emma:-)
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(Original post by aj4660)
How many do you have? i got 2 current accounts. but only use 1.
You can have as many or as few as you like really. Ive got 4. A current account with one bank. Then with the building society i have a normal savings account, a regular savings account (where you have to put money in each month) and an ISA.
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Tiger Rag
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I have 2 ISAs and a current account. As a student, I had a student account, ISA and a current account.
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XxelliexX
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Two - a student account and a savings account with a high interest rate where I put any money I have leftover at the end of the month
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FlavaFavourFruit
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I have 2 current accounts.
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SophieSmall
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However many you need, at the moment I have 2 current accounts and one savings account. The only reason I have 2 current accounts is because I needed to set up a separate one for standing orders for house rent as it can be quite confusing having a bunch of standing orders being put into and in turn taken out of your day to day account.
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kumori
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I have 4 current accounts, one student account, one ISA and a credit card, I'm sure I have a paper book savers account somewhere too. I think I have too many accounts.

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Alarae
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6 Current Accounts
5 Credit Cards

No savings account anymore as my current account pays me better interest, lol.


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Welsh_insomniac
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(Original post by Alarae)
6 Current Accounts
5 Credit Cards

No savings account anymore as my current account pays me better interest, lol.


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What do you need 6 current accounts for, may I ask?

Your title asks "how many should you have?" - which is obviously.. how many you need. Your OP asks how many do you have which is:

1 current account
2 savings accounts (simply just to break up money easily) - Travel Fund + Emergency Fund
1 ISA

I do want to open up another savings account though.
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Alarae
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(Original post by Welsh_insomniac)
What do you need 6 current accounts for, may I ask?

Your title asks "how many should you have?" - which is obviously.. how many you need. Your OP asks how many do you have which is:

1 current account
2 savings accounts (simply just to break up money easily) - Travel Fund + Emergency Fund
1 ISA

I do want to open up another savings account though.
Student account (Lloyds) - 0% overdraft
Current account (Lloyds) - tiered interest
Current account (Nationwide) - 5% interest on balance up to £2500
Current account (HSBC) - Needed in order to hold one of their regular saver
Current account (Halifax) - £5 per month free
Joint Account (Halifax) - Free £5 per month plus account for bills

They all have a purpose, other than perhaps the HSBC one now.


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Curiouscollege
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I'm now confused why a very nice (but obviously dumb) woman at the bank told me I would need to close one of my current accounts before I could open another... and this was with a new bank.
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kumori
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(Original post by Curiouscollege)
I'm now confused why a very nice (but obviously dumb) woman at the bank told me I would need to close one of my current accounts before I could open another... and this was with a new bank.
They are scared that you won't use theirs as your "main" account. Haven't known a bank enforce that you close the other ones first, well other than a few years ago Yorkshire tried to for a second account with them (first one was a savers) but they backed off when I said it was just for one direct debit they was good all with it.
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tehFrance
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Should you have? Well at least one is required for working life, 2 is good for changing money between accounts to meet minimums should there be any, example Citigold is £5kpm, you change your salary of £1k between Citi and HSBC 5 times to meet the minimum for free Citigold, therefore you need 2 accounts

Personally I've got a Citigold (GBP), Deutsche Bank (Euro), M2M (Russian Ruble), Standard Chartered Dubai (AED) and Hong Kong (HK$) accounts along with Barclays Stockbrokers and Reitumu Latvia (different markets covered) for brokerage. That's a total of 7 accounts, so yes you can have more and there's no limit on what you should have.
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Alfissti
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Generally the case that my missus and me share a joint current account and hold some savings jointly. Has been that way even in the early part of our relationship as regardless of who earns the money all money by default belongs to her

In Norway, we have 1 joint account with my missus, all our incomes goes into that account.We or rather I don't engage in any aggressive tax avoidance when in Norway as your tax details are a public record and your neighbour can view it for any reasons he or she wishes. The tax laws and systems makes it quite difficult to avoid tax anyway.

Businesses and investments I have in UK, I still use one joint account which we opened in UK when I was still a student in UK. I only use it to receive money from my businesses and investment, these investments and businesses have various accounts though mainly in Iceland, Isle of Man, Hong Kong, Singapore as well as in UK. Done it this way to avoid some taxes and also to make it appear that the businesses I run is actually smaller than it really is.
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Runninground
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I have a current account which all my money is paid into, a maxed out ISA which is just sitting there earning a small but nice amount of interest and a regular savings account which is earning a horrific 0.10% interest :lolwut:. But i'm thinking of changing it around a bit so I can get more interest.
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jckh12
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#16
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I say it's always best to have 2 bank accounts just incase. I lost my debit card the other week and I just transferred money to my other bank account while they issued another card.


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Rakas21
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I have a current account with Lloyds however i plan to open a basic account with Barclays to have my phone, gym and rent direct debits come out of. At some point in the future i will also open a fixed rate ISA and probably another for future investments.
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Wattsy
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#18
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I have 2 current accounts (one is a student account), 1 savings account which doesn't have much in the way of savings in.
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emobambam
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#19
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#19
I am poor.I only have two a checking account and savings account
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DeceitfulDove
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#20
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One current account, one ISA and one save the change account.
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