So just how many bank accounts can you manage to juggle?

darkvader

Evening All,

Looking and weighing all the options of taking advantages of the various offers on accounts and savings (such as salary in one current account, then move the chunk to another current account, then DD to 2 other savers and on and on), it's led me thinking how can a family manage all the clutter that comes along with it

We had just one with HSBC for years along with an initial online saver and then an e-saver. Recently opened a current account with Natwest where OH's salary is paid and in there we opened an eSaver and her ISA

So with just 2 bank accounts we each have 3 debit cards, 4 cheque books (HSBC and Natwest sent two, one for each holder) and yep, 4 deposit slip books. Luckily for us, HSBC decided to issue secure keys, which I dont mind at all, so we each have one (but OH doesnt bother logging in) and we have a nice solid card reader from Natwest. Not to mention keeping track of the Customer IDs and 2 passwords EACH to log into our accounts every time!

So how easy is it to open and manage 4 or 5 accounts (taking all types into account of course). Im just worried when its time to get a new laptop to remember basic IDs and logins to utilities sites (dont even get me started on that subject!) that will be a nightmare.............so how do you manage with all the cards/cheque books and most recently small devices for online banking? Any advice before we are down this route and possibly some obvious things we should not be doing?

DV

hermante

darkvader wrote: »

Evening All,

Looking and weighing all the options of taking advantages of the various offers on accounts and savings (such as salary in one current account, then move the chunk to another current account, then DD to 2 other savers and on and on), it's led me thinking how can a family manage all the clutter that comes along with it

We had just one with HSBC for years along with an initial online saver and then an e-saver. Recently opened a current account with Natwest where OH's salary is paid and in there we opened an eSaver and her ISA

So with just 2 bank accounts we each have 3 debit cards, 4 cheque books (HSBC and Natwest sent two, one for each holder) and yep, 4 deposit slip books. Luckily for us, HSBC decided to issue secure keys, which I dont mind at all, so we each have one (but OH doesnt bother logging in) and we have a nice solid card reader from Natwest. Not to mention keeping track of the Customer IDs and 2 passwords EACH to log into our accounts every time!

So how easy is it to open and manage 4 or 5 accounts (taking all types into account of course). Im just worried when its time to get a new laptop to remember basic IDs and logins to utilities sites (dont even get me started on that subject!) that will be a nightmare.............so how do you manage with all the cards/cheque books and most recently small devices for online banking? Any advice before we are down this route and possibly some obvious things we should not be doing?

DV

Well.. I have 8 chequebooks and most of them are unused. If you want the advantages of several bank accounts then you just need to be an organised person

I keep some cards in my wallet and some at home and swap them when I feel like it.

sorcerer

I have about 10 accounts at the moment (soon to be 11), I manage them by having a spreadsheet with all the information i need on it. I switch out whenever I want to. I think I have over 20 accounts I no longer used and closed on the spreadsheet.

libra10

My OH and I both have a series of ISAs but most of other accounts are in joint names.

These days it's easy to accumulate numerous accounts, currently trying to amalgamate some to make things easier to track.

Roboform is very useful software for passwords. I use it and recommend highly.

Good luck.

darkvader

sorcerer wrote: »

I have about 10 accounts at the moment (soon to be 11), I manage them by having a spreadsheet with all the information i need on it. I switch out whenever I want to. I think I have over 20 accounts I no longer used and closed on the spreadsheet.

WOW :T thats quite a lot really and I am talking of the 10 accounts. Hats off to being able to manage that.....I need to get things sorted and be able to manage about 4 accounts....

DV

darkvader

libra10 wrote: »

My OH and I both have a series of ISAs but most of other accounts are in joint names.

These days it's easy to accumulate numerous accounts, currently trying to amalgamate some to make things easier to track.

Roboform is very useful software for passwords. I use it and recommend highly.

Good luck.

Happy with managing series of ISAs and as they grow I can consolidate them into 2 or 3 top paying accounts. My main issue is with all the clutter a joint account introduces and thats my main issue.
Thanks for the Roboform suggestion, I am going to review and see how it will help me out....

DV

cockneysean

Here is a suggestion for a solution to your problem.

On your new laptop download a piece of sofware called "TrueCrypt". This is a piece of software that allows you to encrypt your hard drive. Aside from being able to encrypt the entire hard drive, you are also able to create just an encrypted "container" file.

So what you do is make a container file, choosing a suitably complex password and create a text file inside said container using notepad or some other text editor, and write down all of your passwords in here.

Now you have done this you will have a handy place to store all of your passwords or other sensitive data, that is completely safe and secure! Just make sure that you have chosen a complex enough password!

michaels

And if your laptop hard drive suddenly dies?!

System

I don't believe that the number of accounts you have should be thought of as a competition to see how many you can manage, if the accounts include a line of credit (current accounts, etc.) then your credit rating will be adversley effected for one, and secondly, it's just a waste of effort.

There are much more important things to do in life

missile

My wife and I have 17 current accounts.

jrawle

michaels wrote: »

And if your laptop hard drive suddenly dies?!

Restore from your backup.