Is changing banks a nightmare?

[NemophilistRebel]

Currently with natwest

Both DH and I have our current accounts
Along with joint account
And credit cards
And savings accounts
And child’s account

Now they have dropped the savings interest rate to 0.10% and increased overdraft to nearly 40% all whilst charging us £9.99 a month for a reward account which we have made use of previously but I’m not too sure it’s the best value now I’m now considering a move to first direct who have a free £250 overdraft and savings interest of 2.75%

Has anyone done it and been glad they did?
Is it as bad as I imagine?
Is it worthwhile?

We've changed banks twice and very smooth both times. They Automatically sort out direct debits etc and you are not charged for any overdraft during that time. Go for it.

easy peasy, done it lots of times. The bank takes care of everything for you. Can highly recommend first direct.

I change banks at least once a year for the free money! You’d be crazy to be loyal to a bank tbh! You gotta move around and get the best deals! They take care of the switch

I really love the ease of use of the natwest app. I do everything on it

Does anyone find the first direct app really good and user friendly?

I have both FD and NatWest apps. Both are easy to use. I find FD customer service really good, quick to answer the phone etc, as well.

Don’t stay with a bank because you like the app :(

The apps l basically work the same and you will learn quickly

Go on martins money website and see which banks are offering switch rewards

Make sure you use the current account switch service, don't try to do it yourself. All DDs will be moved, your remembered payees will move with you etc.

I did it in November and it was faultless. If something does go wrong and you incur any fees e.g. for a late DD, it will be refunded

I did it several times, in the days when switching incentives were offered.

Easy, max effort about 20 mins.

Did it a couple of years ago, absolutely faultless.

Did it 15 years ago, monumental fuck up.

I switched to First Direct and the switching itself was no problem but the interest rate on my account is reduced every year too so be prepared to move your money again in a few years to get the best deal.