Account for irregular payins and over £5000

thenextbigthing

Hi, i'm 21 and need some advice on where to my money.

I've read the stuff about the best accounts, but the best ones require you to put in £1000 a month. I don't work, i left Uni in the summer of 2003, and since have helped work in my fathers chip shop. I don't get a wage, though i'm on the books, he pays my bills (credit card & phone), and gives me lump sums every now and then. I don't claim any benefits (cos i've got pride and don't like helping suck the puplic dry).
I alread have an ISA, which i've filled, and my only income is from the lump sums and a few dividend cheques i get, so could anybody surgest an appropriate account for irregular payins and for over £5000.
Thanks

Debt_Free_Chick

Alliance & Leicester Online Saver pays 5.35% currently. Bradford & Bingley is paying 5.5% (? might be more) for six months.

Egg & Cahoot had an offer of 5% for first six months - not sure it's still available. If so, you would need to check the rate after 6 months and move to another account if it's not competitive.

The AA has a competitive rate too ...? ... 5.36%, I think

All the above are instant access and do not require a regular saving. You just put money in when you have it and take it out when you want it

Try here

https://www.moneysupermarket.com

Walletwatch

You can give the egg account a shot, it offers 5.5% for the first six months, after which it reduces to 4.75%, so good for the near term, plus transfers are fairly quick.

Of course, after six months, there is a sneaky way to still get the 5.5% by opening a new account with them. See other chat topics under Savings and Investments for more details.

johnllew

Of course, after six months, there is a sneaky way to still get the 5.5% by opening a new account with them.

That's if the Egg offer is still on; they don't tend to last that long. And there may be another Best Buy from someone else by then.

Robert_Sterling_3

and since have helped work in my fathers chip shop. I don't get a wage, though i'm on the books

Why are you not paid a wage.
Is it not illegal not to pay at least the minimum wage.
Are you failing to make use of the nil rate band for income tax purposes. It might be better if you were paid a wage and then took complete control of your finances.

thenextbigthing

I don't really consider it a job, i just help out, so i don't do that many hours, maybe 12hrs a week, 4 days at 3hrs a day, and dad pays my bills, and if i took a wage i'd have to pay my bills and bills > wage, so this way up on my money.

Robert_Sterling_3

I may be a bit slow but I still can't see why you are not paid a wage.

thenextbigthing

i'm not payed a wage because i don't ask for one.
If i took a wage, i wouldent earn very much, and it wouldent cover my bills, which I would have to pay if i were to get wages.
Instead dad pays my bills and i get money every now and then, and when i need, so i'm saving money.