i would like some help in 'tidying up' my banking etc...

Axel

Unfortunately it is necessary to have several accounts to get the best for your savings and you need to keep track of them and open and close as required. Personnaly I use an Excel spread sheet, although I could just as easily use Word as there are no calulations, just lists.

Accounts as follows:

Alliance Premier Current to get the 6% for first year on the first £2,500. Limited to one account and no point depositing more at point 1%

3 x Abbey Current again 6% on first £2,500 in each account. No limit on number of accounts so more accounts as required.

3 x TSB Vantage 4% up to £7,000 on each account. Now at the limit of three accounts. Above £7,000 is point 1%

Halifax Reward for salary bills etc. £5 per month reward.

Halfax Joint Reward for household expenditure. £5 per month reward.

Halifax Regular Saver at 5% on maximum of £500 per month only one allowed.

Intelligent Finance ISA in process of transfer to First Direct at 3% after IF cut the rate to 2.5% on 1st October.

If you simplify and consolidate all into one account you will lose out and not make the best use of your savings. I only carry a debit card for my Halifax account as the rest are basically saving accounts. If possible when opening a new account I say that I do not want a card and if forced to take one it goes in the drawer. I aslo go for paperless billing to keep it simple. I sit down about once a month on a rainy Sunday afternoon, when the Grand Prix is not on and review the lot, it only takes about an hour or so as I read the news letter from this site every week and keep up with the best rates.

Trust this helps.

Axel

hostertlady

Axel wrote: »

Unfortunately it is necessary to have several accounts to get the best for your savings and you need to keep track of them and open and close as required. Personnaly I use an Excel spread sheet, although I could just as easily use Word as there are no calulations, just lists.

Accounts as follows:

Alliance Premier Current to get the 6% for first year on the first £2,500. Limited to one account and no point depositing more at point 1%

3 x Abbey Current again 6% on first £2,500 in each account. No limit on number of accounts so more accounts as required.

3 x TSB Vantage 4% up to £7,000 on each account. Now at the limit of three accounts. Above £7,000 is point 1%

Halifax Reward for salary bills etc. £5 per month reward.

Halfax Joint Reward for household expenditure. £5 per month reward.

Halifax Regular Saver at 5% on maximum of £500 per month only one allowed.

Intelligent Finance ISA in process of transfer to First Direct at 3% after IF cut the rate to 2.5% on 1st October.

If you simplify and consolidate all into one account you will lose out and not make the best use of your savings. I only carry a debit card for my Halifax account as the rest are basically saving accounts. If possible when opening a new account I say that I do not want a card and if forced to take one it goes in the drawer. I aslo go for paperless billing to keep it simple. I sit down about once a month on a rainy Sunday afternoon, when the Grand Prix is not on and review the lot, it only takes about an hour or so as I read the news letter from this site every week and keep up with the best rates.

Trust this helps.

Axel

hey you have more accounts than me! just a quick question, are they all in your name? and how would your other half/partner/children/?? ( got to be careful not to leave anyone out and also assume things) get their hands on things if anything happened to you.. sorry to be so blunt but these things bother me when one person is solely responsible for doing the 'paperwork' as such .....

i have done my tidying up, I have got rid of a poorly paid iSA, closed a bank account that only had one DD coming out of it, and updated my 'little black book' accordingley..

Axel

The accounts are all in my name except the Joint Current account.

I have an free encrypted safe on both my desk top computer and on my laptop:

http://www.truecrypt.org/downloads

All of my passwords, access codes and account numbers for everything are in the safe on a spreadsheet and my wife knows the single password for the safe.

Incidentally, all of my DDs, standing orders and salary pay in are in my Halifax account, where they always been, and they will stay there. I do not mess around moving my DDs and standing orders around different banks, so if I am being forced to use a "transfer service" to open a new account and get the interest rate I do not bother and go somewhere else where this is not required. Most of the above accounts require a £1,000 per month pay in, but it is easy to chase the same £1,000 around the banks and back to where it started once a month to satisfy that requirement. Faster payments makes this much easier and quicker to do.

Axel

hostertlady

Axel wrote: »

The accounts are all in my name except the Joint Current account.

I have an free encrypted safe on both my desk top computer and on my laptop:

http://www.truecrypt.org/downloads

All of my passwords, access codes and account numbers for everything are in the safe on a spreadsheet and my wife knows the single password for the safe.

Incidentally, all of my DDs, standing orders and salary pay in are in my Halifax account, where they always been, and they will stay there. I do not mess around moving my DDs and standing orders around different banks, so if I am being forced to use a "transfer service" to open a new account and get the interest rate I do not bother and go somewhere else where this is not required. Most of the above accounts require a £1,000 per month pay in, but it is easy to chase the same £1,000 around the banks and back to where it started once a month to satisfy that requirement. Faster payments makes this much easier and quicker to do.

Axel

i am very excited by your reply, that sounds wonderful and wow!! so organised.. mine, i am afraid is in my 'little black book' and i have told hubby my password and written it down by will. lets hope he remembers that!

Andyhhh

Hi
Are there any other money management websites folks would reccomend apart from FD as Ive about had it with Egg Money Manager not logging into my various accounts !

Thanks in advance