My bank account?

Price_Is_Right

Hi guys,

I am currently looking at changing my bank account. I currently do not earn enough to pay in £1,000 a month so those accounts are out of the equation.

After savings and pension go out of my salary, I come out with over £800 straight to my account.

But i'm looking around and a bit unsure of what my options are on my salary. For example, an account I've seen with Lloyds TSB that credit an eligible savings account with the difference rounded to the nearest pound when you use your debit card for transactions in shops, you dont need to credit £1,000 for this either, etc.

Until I qualify for crediting £1,000 a month, can anyone give me the lowdown on any in-credit current accounts that may be of some relevance for me to look at?

Cheers

vintagegirl

you can transfer out money and put it back in to qualify for the halifax reward account which pays you £5 a month. as long as you credit £1000 throughout the month, it doesnt have to be all in the one transaction

Price_Is_Right

Most of my savings are locked away. The savings i have access to are there for holidays etc, so i wont always be able to pay in £1000 each month. (maybe 8 out of the 12 months in each year)

ses6jwg

what about nationwide flex account free travel insurance credit with 750pm

iereboy

You missed Vintage girls point completely.

You could transfer money in and out of a Halifax account.

As long as the total credits transferred in is £1000, you get the £5.

It could be made up of 2 credits of £500 or whatever combination you want. As long as the credit totals £1000, a free £5 is yours.

Same applies to a LLoyds Vantage account for the 4% interest.

Mikeyorks

Price_Is_Right wrote: »

so i wont always be able to pay in £1000 each month.

The point being made is that you don't have to - unless the account requires you specifically pay in your salary.

For example the Halifax Reward account. You just set up a Web Saver adjacent to your Reward account. Then - online, as it's instant (once the accounts are established) - you move the salary from your Reward account to the Web Saver and then straight back again. Takes 30 seconds. That way you've satisfied the £1k funding requirement as you've just put 2 x £800 = £1600 as credits.

Just leave a nominal £1 or so in the Web Saver (interest rates are lousy .. so only use it as a temporary expedient) to keep it open.

Price_Is_Right

Completely understand!!

Cheers guys

I'll have a look at the accounts!