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Current Account with no upper balance limit?

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Hi all,

I am looking for a new current account with no upper limit/high limit, and a reasonable interest rate. I have tried the link from Martin's mailing list, and it recommends Citibank, as being 4.07% and £500,000 upper limit (not gonna need that much!) but it seems now the account is closed?

I earn well (£50k plus) but currently have the LloydsTSB current account, which as I'm sure you know, drops the interest rate above £5,000. I like to build up my current account to around £12,000/£14,000 to pay income tax twice a year, so that's a lot of interest being lost.

Plus, the LloydsTSB account has this login 3 times monthly annoyance, which I will admit I forget regularly. So this account is worse than useless for me. I recognise the problem as being one with me, not the bank, but that's the way I am, scatty.

So, basically, are there any 'clean' accounts, no login/internet hoops to jump through, that pay a reasonable interest rate, and allow me to keep up to £15,000 ish?

Thanks for all your help,

Eddie.
Treat everyday as your last one on earth! and one day you will be right.

Comments

  • The best I know of is Cahoot who pay 4.00% if you don't need a chequebook or 3.90% if you do. Customer service pretty good too by the sounds of it.

    Both apply up to £250,000

    JC
  • Rache_2
    Rache_2 Posts: 107 Forumite
    Probably a daft question but is there any reason you need to keep all that money in your current account? My husband and I are both higher rate taxpayers (most of the time) and self employed. We keep our income tax money in an INGDirect account which is paying 4.5%. The transfer back to our linked current account just takes 3 days (sometimes less) and is also a good way of keeping tax money separate.
    Lightbulb moment: 2nd January 2006

    "If you do what you've always done, you'll get what you've always got."
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I don't see any point in keeping large amounts on current account. Most banks and BSs have instant-access online saving accounts linked to a current one. Lloyds TSB is not the best example of this with 4.25% (that includes bonus).
    IMO one of the best 'clean' accounts is Nationwide's flexaccount. Now it pays 3% (if £1000+ paid in each month) and I am not aware about any limits. From April it will pay up to 4.25% on first £3000 (Earn 4.25% on your current account with Nationwide ). Linked instant-access online savings account pays 4.55-4.65%.
    A&L have current account with 5% (first £2500) and online saver with 5.15% (max. £25000), but their rates tend to fall for old customers after about a year.
  • I know, I'm just a bit useless, I salt away some money into a savings account, and think of that as my tax money. But, I don't spend that much and so my current account keeps building up. I know I 'should' move it, but I keep forgetting, so this is the the next best option. It's more of a way around my limitations really!

    I will check out Cahoot too.

    Cheers, Eddie.
    Treat everyday as your last one on earth! and one day you will be right.
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