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Current account puzzle for stay at home mum
Mummy_Bear_5
Posts: 9 Forumite
I presently have a Nat West current account plus with around £5000 in. I am a non-taxpayer- a stay at home mum. Therefore I do not have a regular salary, I save where possible, use the account to pay bills and keep the 'house- running' budget ie. shopping, petrol, kids' expenses etc.
I am sick of Nat West trying to change my account every time it has a new product!
What would be the best account for me, bearing in mind I must be able to pay regular standing orders and direct debits? And clearly get a better rate of interest.
I am sick of Nat West trying to change my account every time it has a new product!
What would be the best account for me, bearing in mind I must be able to pay regular standing orders and direct debits? And clearly get a better rate of interest.
Learn from the mistakes of others - you won't live long enough to make them all yourself.
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Comments
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Pick anyone you want. From the sounds of it any bank will have you. Both A&L and Halifax offer high interest current accounts.
I would also open an instant access saver as rather than have all that money in the current account.
Btw, I would remove the '---' in your signature.0 -
You could go for the Alliance & Leicester Premier Direct account - offers 6%ish for balances and you can get £50 cashback if you apply for it via Quidco.com?MFW #185
Mortgage slowly being offset! £86,987 /58,742 virtual balance
Original mortgage free date 2037/ Now Nov 2034 and counting :T
YNAB lover
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Also agree. Have your current account...any cos it really don't matter. Then a decent savings account. Put the rest of your cash in that instant access account. Then transfer it across as and when to make your current account as close to £0 as you dare...making sure you meet your bills. Then get a tax exemption form to make sure that you're not paying tax on your savings....as you aren't working.Baby Year 1: Oh dear...on the move
Lily contracted Strep B Meningitis Dec 2006 :eek: Now seemingly a normal little monster. :beer:
Love to my two angels that I will never forget.0 -
It stretches the width of the forum window. Compare this thread with others to see what I mean.0
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The Alliance & Leicester account only pays the 6.1% interest if you pay in £500 a month regularly and you say you haven't got a regular income. If you still get in £500 a month, great, otherwise I would recommend an account without these restrictions, like Nationwide FlexAccount.Reclaimed thanks to this site:
£175 Abbey Mortgage Repayment Fee, £170.03 Capital One Bank Charges £418.07 Lloyds TSB Bank Charges, £2,671.55 Mis-sold Endowment Policy, all for OH0 -
Nationwide FlexAccount would suit you well, just put the lump sum into their E-Savings account which sits alongside it.
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Thanks for advice but as you can tell I'm new to this and don't have a clue as to what you mean about signature '---' !
Learn from the mistakes of others - you won't live long enough to make them all yourself.0
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