current account-less than £1000 month

tadipercy

I currently bank with Barclays at a pitiful rate of interest. They could offer no better rate so I decided to switch.
However, most accounts with good rates ask for £1000 a month to be entered into the account. I Live in Cornwall, by which I mean that I don't earn enough for these accounts.

I am looking for a good rate of interest on a current account. The best I have found so far is Cahoot at 4.35% aer. The downside is no cheque book, although this is not essential. I would like a debit card, phone and internet access to the account. The only problem here is that Cahoot take up to 5 weeks to transfer and I'm worried about direct debits etc. Also their helpline is an 0870 number.

Can any one help!

ashmit

Why not go for smile? Their interest rate isn't the highest, but there's no requirement of earning a certain amount, and their ethical stance is good. And their online access is good.

Failing that, why not just transfer £100 (or whatever will take you to the £1000 requirement) out into another account and back in again each month? I think people have found out before that this is acceptable (but please correct me if I'm wrong). Hassle but worth it (can be automated I'm sure) if it gets you one of the better accounts.

jonesMUFCforever

Have you considered a bank that may not offer much interest on the current account side but linked to an internet savings account, so that you can transfer surplus funds back and forth as required.
Eric

derrick

tadipercy wrote:

I currently bank with Barclays at a pitiful rate of interest. They could offer no better rate so I decided to switch.
However, most accounts with good rates ask for £1000 a month to be entered into the account. I Live in Cornwall, by which I mean that I don't earn enough for these accounts.

I am looking for a good rate of interest on a current account. The best I have found so far is Cahoot at 4.35% aer. The downside is no cheque book, although this is not essential. I would like a debit card, phone and internet access to the account. The only problem here is that Cahoot take up to 5 weeks to transfer and I'm worried about direct debits etc. Also their helpline is an 0870 number.

Can any one help!

Cahoot geo phone number 02476 627190.

Inteligent Finance geo number 01316 583988,if you open a savings account with £1. the gross interest is 4.75%, you then open a current account and as long as you remain in credit with the savings account you will earn 4.75% on the current account as well,no minimum monthly payment into account,cheque book debit card,phone & internet access,I have had no problems since signing up about 18 months ago

tadipercy

Many thanks for the replies. I feel I have a bit more information now. Am I right in thinking that the geo phone lines are cheaper, and do they take you to a helpdesk?

I'm still a bit innocent when it comes to playing the system!

Tadipercy

dag_2

Am I right in thinking that the geo phone lines are cheaper

They certainly are. This isn't just about telephone banking - it's about all the phone calls you make to customer service numbers. I'd advise you to check the phone forum, and Say No To 0870, and 18866 and 1899.

Fatboy_NSS

If you can't make the £1000 a month, just take the cash out from the ATM then walk up to the counter and pay it back in. Transfers between accounts don't always count towards the limit but cash deposits will do.

Darryl

I've just spotted the Alliance & Leicester Premier Current Account (not the Premier Plus one that requires £1000 per month). This one only requires £500 per month, and isn't so easy to see on their web site. But is it there... and has good benefits like the Premier Plus one.

Darryl.