Do sweeping accounts exist any more?

oneashleym

Hi,

I used to bank Openplan with the Woolwich and had the great system where any money would go into a higher interest savings pot, then when it was needed just transfer back into the current account - Barclays have fouled this system up totally and I want to switch - but can't find anywhere that does anything similar. Does anyone know where I can find my ideal account again?

Thanks!

Ashley.

olivetti

First Direct do it but the interest rate on the savings account that they sweep to is so low as to be pointless.

GlasWolf

Intelligent Finance do a limited version that keeps your current account topped up to a level you specify using money from your savings. It doesn't transfer excess money from your current account out, though.

Sceptic001

The Nationwide esaver (tied to FlexAccount) used to offer an excellent rate but is now a paltry 0.45%. There is an esaver Plus (2%) but this falls to 0.1% if you make more than 3 withdrawals per year, which renders it useless as a sweeper.

Mortgage_&_debt_free

oneashleym wrote: »

Hi,

I used to bank Openplan with the Woolwich and had the great system where any money would go into a higher interest savings pot, then when it was needed just transfer back into the current account - Barclays have fouled this system up totally and I want to switch - but can't find anywhere that does anything similar. Does anyone know where I can find my ideal account again?

Thanks!

Ashley.

RBS do a sweeper account(s)