moving money between banks

chihiro

hi
I would like to split the sum of £200K in four banks -hsbc, lloyds tsb , barcley and abbey.

Which would be the best and safest way of doing it,please?

the bank transfer cost around 30 pounds for each, by cheque I think is free,but not sure if safe, what other option do i have ?

thank you

napoleon

Put it all in B+B or N Rock, government guarantee, and do away with all of this messing about with 4 different accounts

mah_jong

I have three bank accounts, all with internet banking, I dont pay charges for moving money around.

chihiro

what you mean by 'internet banking' can you please explane me more please?what kind of accounts?

barak

Plenty of info here -

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

Rebchappers

I believe that there is a limit of £10k that can be moved in internet banking. If you are looking at moving £50k to each account, it must be done by TT (CHAPS) for which there is usually a charge. Either that, or a cheque

opinions4u

napoleon wrote: »

Put it all in B+B or N Rock, government guarantee, and do away with all of this messing about with 4 different accounts

If the B&B savings book is sold off, this won't be the case.

ad44downey

mah_jong wrote: »

I have three bank accounts, all with internet banking, I dont pay charges for moving money around.

You'll be losing interest when you move the money.