Savings Accounts Question

ScotFiona

This will probably seem like a stupid question but I'd rather look daft here than in a bank and I really have no idea what to do.

I'm wanting to spread my money about into new savings accounts but I don't know how to go about it. Do I go into the new bank first and set up an account and get them to transfer the money electronically or do I have to go to my existing bank and get bank drafts for the money? Or is there any other option (other than get cash, I can't be dealing with that kind of worry ). I can't find answers to this anywhere and I really want to get it moved as soon as possible. Hope someone can help. Thanks.

Lansdowne

You really need to tell us where your money is now, particuarly what sort of account. However...
If you have a cheque book with that account, the answer is obvious, use that to open your new account(s). If it has a cash/debit card, some banks/BS will be able to take the money from your account using the card (like in a shop).
Next, make sure you know the conditions that apply to your existing account. For example there may be a penalty to withdraw money without notice.
Best suggestion: go to the new bank, make an enquiry about the account you want to open, take your existing account details with them and ask for their suggestion of how to transfer funds.

ScotFiona

It's an instant access savings account.

Thanks for the advice. Now I can go to the bank and look like I know what I am talking about.