Two current accounts....one Bank

E

Esme

Registered User
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Hi Everyone,

I am closing the sale on my house in the next two weeks and in order to help me budget with the mortgage I was thinking of opening a second account with my bank to transfer my money for my mortgage into it and then for the direct debit to come out every month out of this account.

Is it possible to have two current accounts with the one Banking institution?

Thanks in advance.

Esme
 
Some can be a little sticky about it as there are operating costs for accounts and if you're not having salary paid in, some may even refuse to open a current account for you. By all means try, but they may say no.

Another way of doing it is to set up your direct debit for your mortgage for a couple of days after you are paid, so there is always (or usually!) money in the account.
 
I was told by my mortgage broker that EVERY mortgage comes out the last working day of every month.
 
I THINK IIB can only direct debit accounts on 1st of month, but in my case I had mortgage with AIB that came out every 25th (was my payday) then I switching to UB & pay of 11th now, as I moved jobs & salary date changed.

Ask your mortgage broker to check again!
 
Broker definetly wrong I have one moortgage coming out on the 24th and another on the 26th.

I also have 2 current accounts with BOI. the second was set up with no fuss and I was given cheques book/laser card for this even though I had a current accoutn already. I declined these as I only use the second accoutn to pay bills online
 
Esme said:
I was told by my mortgage broker that EVERY mortgage comes out the last working day of every month.
Click to expand...

As already stated by a few other posters this is untrue, maybe some banks can only do this but I'm with AIB and I had a choice of the same day the following month as the drawdown or any other day of my choosing. I chose a day a few days into the month. If you are paid on the last day of the month I personally feel more comfortable with a few days leeway so if for some reason your salary is delayed your direct debit does not bounce.
 
I have two bank accounts with AIB in two different branches........I set the second one up for the same reasons as you, to pay mortgage and all bills online. My salary is paid into one account and I transfer what I need into my 'bills' account and whats left is savings!!!!!!

No problems setting up a <i>second</i> bank account with AIB but they do/did have a drawn out process for opening an account but this would have been applicable whether it was my first or second, third account with them.
 
I have 3 current a/c's. My mortgage is paid out of my a/c on payday. I have a bridging facility which i pay on the 26th monthly and no problems with any of it.
 
Hi there,

My friend has done exactly this with PTSB, she recently changed to them on the 'switcher' and they have set up two accounts, one a 'budget' account, which she transfers money to each month from her 'spending' account. I'm sure most banks would do it for you.

Ginger
 
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