Banking advice

rb10

Tiffster wrote: »

OK, so do you know how long you have to keep the money in the account for it to register as £1000 per month ?

Mine spends about two seconds in my first 'spare' Reward account, then a further two seconds in my second 'spare' Reward account, then back to the main account.

All they are looking for is the fact that the money was credited, not how long it stayed there or where it came from.

Tiffster

Yes the Halifax penalties are too severe - i don't have any "need" for the money at the momment but i might within 12 months and so i think the Barclays one is a better option, 4.25% per month if there are no withdrawals, 3.03% if there is.

This is much better than nationwides 2% and with Halifax you can get 5% but you are not allowed any withdrawals. There other option only offers 0.35% with 1 withdrawal per year.

That is if im not mistaken Please correct me if i am wrong.

So im looking at closing the nationwide account, opening a saving account with Barclays, keeping my current account with HBOS but change it to the reward account.

So then i can either transfer £1000 from Barclays each month and take the lower interrest rate or leave £1000 in the HBOS saving account and transfer it back and fourth to obtain the £5 per month.

How does that sound ?

StAnToN_2

Tiffster wrote: »

Yes the Halifax penalties are too severe - i don't have any "need" for the money at the momment but i might within 12 months and so i think the Barclays one is a better option, 4.25% per month if there are no withdrawals, 3.03% if there is.

This is much better than nationwides 2% and with Halifax you can get 5% but you are not allowed any withdrawals. There other option only offers 0.35% with 1 withdrawal per year.

That is if im not mistaken Please correct me if i am wrong.

So im looking at closing the nationwide account, opening a saving account with Barclays, keeping my current account with HBOS but change it to the reward account.

So then i can either transfer £1000 from Barclays each month and take the lower interrest rate or leave £1000 in the HBOS saving account and transfer it back and fourth to obtain the £5 per month.

How does that sound ?

Wrong. You cant put lump sums of cash in the Barclays account. Hence MONTHLY saver.

The maximum you can save per month is £250. If you decided to transfer out of the account you can do so, but that puts you back to square one...

Tiffster

!!!!!!. So im not able to put thousands in it at once.

That does basically take me back to square one.

Any recommendations on other suitable saving accounts ?