Current Account

[msemma]

Are there any rules about how many current accounts you can have?

[Oneeyedvic]

Whilst some banks may not like you having more thatn 2 current accounts, there are no laws in place to say that you can't. A lot of banks will want to see wages / money going in though.

(I have two current accounts with NatWest and two with Halifax - one personal and one joint)

[jake-the-pig]

NO - you can have as many as you want. You may find a particular bank will pull a face if they get to know how many you have - that is their choice. They may even say they are not allowed to open another account (inferring it is not legal) but it is none of their business.

[Oneeyedvic]

Well, actually it is their business (banking) and it is their decision as to whether or not they allow you to open up another account. They are well within their rights (as it is their business) to say, no you can't have another account unless you close x account.

[stevie21]

Part of the criteria for opening a current account is that you promise to pay in a regular sum every month, probably a minimum of �250.

To open a current account, a credit search is carried out so each current account carries financial risk to the bank. They might not like having this risk multiplied too much by giving you 8 accounts. Especially if this means that you've got 8 overdrafts, 8 cheque guarantee cards (�100 limit?) and 8 chequebooks (say there's 25 cheques in each book, that's 8 X 25 X �100 that you can guarantee without actually having any money!).