Coutts Bank....

111KAB

MoneySaverLog wrote: »

So who are the other two? And if you won big on the lottery could you not just use your existing bank account?

Other two used to be Cater Allen and HSBC Private. Yes of course you can still use your existing account but there is a reasonable chance they may not be able to 'handle' large amounts. For example I know one of the on line banks only allows a maximum transaction of £100k per day. If you had won Millions last night it would take you over 500 days to get to all your money! Also bear in mind (and I know this for a fact) that some lottery (big) winners have not even had an account to pay winnings into.

pvt

MoneySaverLog wrote: »

And if you won big on the lottery could you not just use your existing bank account?

Of course you could. And you can keep on taking crap holidays in Bognor, buying Tesco 'value' brand food, and commuting to your old £12k per annum job in your 10 year old Astra that keeps breaking down in inconvenient places.

If I won the Lotto and had a few "blocks" to my name then as well as flying first class, staying in 5 star hotels, eating in posh restaurants, and getting Mrs PVT a bigger pair, I would probably want to bank somewhere I don't have to queue for 20 minutes on a Saturday morning. And I'm hazzarding a guess here, but I suspect that when Stevie Gerrard rings his bank manager he doesn't listen to 20 minutes of Vivaldi's Four Seasons before speaking to someone in Bangalore with a tenuous grasp of English reading him responses from a computer screen.

But each to their own I guess...

MoneySaverLog

Most of your High Street banks will offer private banking facilities though, I know Coutts is just NatWest and Cater Allen is just Santander.

TzarJay

According to Wikipedia, not the best source, Drummonds Bank have a specialised department for Lottery winners.

http://en.wikipedia.org/wiki/Drummonds_Bank

I can imagine if you won the jackpot, there would be a que of representatives from Coutts, HSBC Private, Drummonds etc. Trying to convince you why to bank with them.

111KAB

TzarJay wrote: »

According to Wikipedia, not the best source, Drummonds Bank have a specialised department for Lottery winners.
http://en.wikipedia.org/wiki/Drummonds_Bank
I can imagine if you won the jackpot, there would be a que of representatives from Coutts, HSBC Private, Drummonds etc. Trying to convince you why to bank with them.

Generally I think Camelot work on a rota system between the banks asking the winner if they need financial advise (no committment) and if so the banks representitive visits the winner's house to 'go through things'. If from a less financially sorted background the winner tends to have a Sunday morning hangover from hell + a list with a certain Italian sportscar at number 1. :rotfl:

MoneySaverLog

111KAB wrote: »

the winner tends to have a Sunday morning hangover from hell + a list with a certain Italian sportscar at number 1. :rotfl:

Yep but forget the Ferrari I'd rather have a Aston Martin

dtaylor84

Why not one of each?

MoneySaverLog

dtaylor84 wrote: »

Why not one of each?

I could only drive one at a time

Seriously though I'd have a blow out, buy a nice house and a Aston Martin for cash, I've always wanted one, would be the first thing I'd do after handing in my notice at work.

With the rest of the winnings I'd look at investing to generate a income for life. So long as I did not have to want for anything and can go away on nice holidays whenever I want I'd be happy.

Probably look at volunteering too so I have something to do other than lazy around all day.

One can dream.... Not even one number yesterday