Best Free Current Account with no minimum monthly payment/dd ?

robadub

Hello, basically i am just looking to open up a current account to transfer all of my tax into throughout the year (i am self employed).

I want the current account purely for this purpose so there will be no direct debits going in/out it will just be me transfering in a % of my earnings as and when to cover my tax bill at the end of the year.

Could anyone recommend me a current account that is free and there is no obligation to set up direct debits or pay in a minumum amount each month ? I would need something with internet banking.

Thanks in advance.

opinions4u

The vast majority of banks will provide a free current account or basic bank account that does exactly what you want.

Personally I'd chuck it into an easy access savings account and earn a bit of extra interest on it.

Aim for 2.75% or more.

TheSenSibleOne

Most banks these days offer no fee current accounts. Iv used halifax and never had any problems, pay in what I want, withdraw what I want. No fees, no problems

Halifax current accounts ]/url]

I use the reward, but if you wont have more than £1000 going through every month theres no point in getting that one

robadub

be lucky if there is 500 going in a month at the moment

opinions4u

TheSenSibleOne wrote: »

I use the reward, but if you wont have more than £1000 going through every month theres no point in getting that one

Unless you put £500 in, take it out, then put it back in again. 2 minutes a month to earn a £60 a year.

psychic_teabag

Could also consider Monmouthshire flexible saver. Pays 4%. I think it's intended as a regular saver, but is flexible over payments, up to £1000 per month I think, with no minimum per month. Only 4 withdrawals per year, but that's 3 more than you need. You would need to leave the account open (with a minimum balance) until the anniversary, since 2% of the rate is a bonus.

There are other regular savers paying higher interest, but they tend to require a commitment to a fixed amount per month.