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In the UK - that's simply untrue. Many accounts will stipulate in the T&Cs that you use the account to deposit your salary and 1 or 2 utility payments from, or
by alibarber 4y ago
In the UK - that's simply untrue. Many accounts will stipulate in the T&Cs that you use the account to deposit your salary and 1 or 2 utility payments from, or they might levy a charge or remove benefits (free overdraft, fee free card usage abroad etc) - this is pretty easy to game though. It is fairly common for people to have more than one current account.
- bowsamic 4y agoThat's just what Nationwide told me when I was in the UK. I guess it is a common myth. If I google it, it sounds like it is
- alibarber 4y agoIt does sound like you were mis-informed, and sadly that seems to be common with banks all over. The only account that is legally restricted that I can think of is the ISA which offers good tax incentives for saving but with a limit to how much can be contributed in a year, and I think you can only open with one provider in a given tax year.