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  1. #1

    Legality of having two bank accounts?

    Alright, so I already have an account with HSBC, but for reasons I won't go in to (No dodgy dealings, overdraft or anything like that) I would quite like a second account.

    I was thinking Lloyds TSB - partly because NUS tell me I can get a NUSExtra card for free for 3yrs with a new Lloyds account (until end Dec).

    Am I within my right to do this? I don't want to switch completely, so please don't advise me to do anything like that, I just can't seem to find out if there's any legal differences being U18 as far as multiple accounts go.

  2. #2

  3. #3
    you can't have 2 student accounts, but you can have as many normal and 1 student.

  4. #4
    It's perfectly legal. Plenty of people - including me - have two accounts - one for savings which pays more interest, and one for a debit card to which I transfer some money when I need it.

  5. #5
    I'm with natwest and lloyds, and so far the old bill haven't turned up on my doorstep.
    It's more against specific terms and conditions than anything.

  6. #6
    Perhaps I should have been more specific...

    The HSBC package includes a current and savings account. The idea would be to have a second situation the same with Lloyds.

    I'm well aware its legal in general, but 'Youth', 'Under 19' 'Student' whatever they choose to call them accounts are much less documented - and how was I supposed to know whether it's the same sit?

    And yes, as pointed out above, legal was a lazy word to use. I should, I suppose have said 'allowed by the banks concerned'.


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