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  • Special_Saver2
    • #9
    • 27th Nov 07, 10:41 PM
    • #9
    • 27th Nov 07, 10:41 PM
    Best Feeder Accounts

    These are accounts where you can leave a large lump sum and drip feed the money into your regular savers each month. Certain accounts are not listed here as they cannot transfer money directly to regular savings accounts. The accounts listed below can do this.

    Nationwide FlexDirect Account

    Paying 5% fixed for 12 months on £2,500. This is a current account. You need to pay in £1,000 per month. Note that posters on pages 225 and 226 of this thread have informed us that despite the terms and conditions of this account, they have been able to continue getting 5% on this account after 12 months by downgrading and upgrading the account.

    TSB Classic Plus Account

    Paying 3% variable on £1,500 from 4th January 2017. This is a current account. You need to pay in £500 per month.

    Bank of Scotland Current Account with Vantage Option

    Paying 3% on £3,000-£5,000, 2% on £1,000-£2,999.99, 1.5% on £1-£999.99 from 27th June 2011. You have to pay in £1,000 per month, maintain a credit balance and pay out 2 direct debits. From 11th June 2017, the interest rate will be 2% on £1 - £5,000, as announced by Martin here. Although this is a current account, some people have been opening multiple accounts, transferring £1,000 around between the accounts and effectively using these accounts as savings accounts. There are several threads on this subject, e.g. see this thread.

    Tesco Bank Current Account

    Paying 3% on up to £3,000 from 10th June 2014. Collect Tesco Clubcard points by using your debit card with this account. You can open two of these accounts. You need to pay in £750 per month and have 3 active direct debits. Interest rate of 3% guaranteed until 1st April 2019.

    Lloyds Bank Club Lloyds Current Account

    Paying 2% variable on balances from £1 to £5,000 from 8th January 2017. The interest rate applies to your whole balance up to £5,000. No interest is paid on amounts over £5,000. Each year, you also get annual Gourmet Society membership or 6 Vue cinema tickets or annual magazine subscription from a list of 14 printed or digital titles. You have to pay in £1,500 per month and pay out 2 direct debits per month.

    Santander 123 Current Account

    Costs £5 per month but pays 1.5% from 1st November 2016 if you have a balance up to £20,000 and pays 1% cashback on water and council tax bills, 2% cashback on gas and electricity bills, and 3% cashback on mobile phone, landline, broadband and paid-for TV packages
    Last edited by Special_Saver2; 29-05-2017 at 1:04 PM.
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