'How much is in your bank account?' poll discussion

King_Weasel

First Direct - they're efficient, and let me overdraw up to £250 for free.

Nationwide - I stick money in there before going abroad and drawing it out again in foreign holes in walls. The cheapest way.

aj9648

I have over 100K in my accounts - looking for house but cnt find one we both like !!!

birduk

Well Barclays have given me a £2000 interest-free overdraft (I don't think they realise I am not a student anymore), so I might as well use it! On payday I get up to zero (sometimes) and then the DD instantly come out (including monthly savings). I still have a 6% regular saver, so thanks bank!

suweb5

The reason I have over £5k in my current account is that it is a Lloyds TSB Vantage account which pays 4% on balances between £5k and £7k. More than I could get on an instant access account anywhere so part of my balance is savings.

dougz_2

If you assume 80% of all those in credit balances are not earning any interest, then it totals over £1 MILLION a year in lost interest! :eek:

withabix

I think a lot of people are voting wrongly.

The poll is about what's in your CURRENT account, not the total you have in savings.

hermanmunster_3

laughing_cow wrote: »

I'm amazed that 443 people (at the time of writing) have over £10k in their current account. If I had that much spare I wouldn't be leaving it in a current account which usually have terrible rates, I'd be sweeping it over into a higher interest account.

.

Yes well over 10k but it is offset against the mortgage and I am a higher rate tax payer so would struggle to get a better interest rate than that!

minerva_windsong

K - Overdraft within limit to £500.

Tis an £800 limit student overdraft (I wasn't properly MoneySaving when I got it and just took out what I needed), balance now just over -£500 and interest free til July next year. I'm planning to see if I can cut it back to a £500 limit once I get to -£300, hopefully by Christmas, mainly because I don't like owing the bank money, and then keep going until I don't need to have an overdraft any more.

However the plan when (if!) I get a proper job is that it'll be somewhere around £1000 a month going in, anything left over from which will be used to finish paying off the overdraft or go into savings.