Buffer zone in your current account?

heppy23

I have three accounts on one electron card. The primary account is used for money to go out through the card (petrol, small bits of shopping).
I keep the available balance of this at £30 so I know I can always get petrol or cash (if the petrol station doesn't take electron).
The secondary account is my current account. I always keep the available balance on this at £150. This is on the basis that my biggest dd/so is £120 so it will always be covered.
The third account is an e-saver account. Anything above the £30 and £150 sits in here and can top them up if they drop down.
It means I have to go onto online banking every day but I don't mind that.
I get paid weekly so that works well for me. If I was on monthly pay I don't think I could do it.

Walshy

I bank with Cahoot and I try to keep my account at -£79 (interest free overdraft of £100). When I get paid, I switch the whole amount into my Cahoot 5.3% savings account, then drip-feed into the current account during the month.

I have a calendar on the wall which reminds me when to transfer money into the current account to pay dd's and credit cards.

pin

I think it will depend on how much your monthly spend is. However for me (using my Nationwide account), I keep around £250 - £500 as a buffer. I also keep £500 in my ESavings account as a last minute back up.

System

I only use one bank account, up until recently i didnt let my account go overdrawn if i could help it. If i spent more than i had, i would take the money from my online saver and put it in my current account to fund my spends even though i dont get charged when i am overdrawn. However i am not so rigid about it now, prefering to use the £100 overdraft interest free than robbing my savings account. I settle up from my online saver as i reach £100 overdrawn.