Didn't see the point in having loads of bank accounts.

BugsyBrowne

Right as you know I never saw the big deal in having more then 1 or 2 bank accounts but I may have gone over the top.

Barclays current account
Lloyds current account
And recently I've been accepted for these below.

Halifax reward
Coop account plus
Bank of scotland
Flexi-direct

Now I know these have to be funned and wondered how or whats the best way to do this.
My money at the moment goes into Lloyds so would using my overdraft from Lloyds to transfer and cycle that about through these new accounts and at the end of the week finally put the money back into the overdraft.

Cheers

pmduk

What's made you change track so fundamentally?

BugsyBrowne

pmduk wrote: »

What's made you change track so fundamentally?

Ain't a clue mate I'm just going on advice on here that more accounts the better.
Just wondered whats the best way to look like I'm funding each of them as required.

Ps also I've bought a new wallett with 12 card slots.

grumbler

BugsyBrowne wrote: »

Ain't a clue mate I'm just going on advice on here that more accounts the better.....

Ps also I've bought a new wallett with 12 card slots.

Is this a joke?

pmduk

It's working out which one to use that always confuses me! But it's certainly a good idea not to rely on just one banking group.

dalesrider

pmduk wrote: »

! But it's certainly a good idea not to rely on just one banking group.

We have seen enough examples of this in the last year....

Never mind any other issues that cause a card to be stopped.


I think the best idea is to cycle round enough to avoid charges, but leave say a £200 balance in each just incase....

Oh and never carry ALL the cards in the same wallet.....

guesswho2000

dalesrider wrote: »

We have seen enough examples of this in the last year....

Never mind any other issues that cause a card to be stopped.


I think the best idea is to cycle round enough to avoid charges, but leave say a £200 balance in each just incase....

Oh and never carry ALL the cards in the same wallet.....

I do the same, except I never leave a balance in any.

I leave enough in to cover the DDs, which you'll know when they go out and for how much, and all the rest goes in an interest bearing account.

In fact I make an effort to be overdrawn every month (£100 max) on my NatWest and RBS accounts because its free.

BugsyBrowne

grumbler wrote: »

Is this a joke?

Can't see why this is a joke its a simple question but I'm struggling to work out whats the best way to fund each account like do I just do a faster payment into all of them which looks like the account IS being funded therefore no come back from the bank.

pmduk

dalesrider wrote: »

Oh and never carry ALL the cards in the same wallet.....

I've learned that lesson the hard way! It's a shame so many of the best lessons are learned like that.

grumbler

BugsyBrowne wrote: »

Can't see why this is a joke its a simple question

So, you are serious about carrying 12 cards on you... :think:

but I'm struggling to work out whats the best way to fund each account

Earn £12K p.m. and put £1000 into each.
However, I still don't understand why you need all these accounts in the first place. And why do you want to fund, say, Barclays account?

BugsyBrowne

grumbler wrote: »

So, you are serious about carrying 12 cards on you... :think:
Earn £12K p.m. and put £1000 into each.
However, I still don't understand why you need all these accounts in the first place. And why do you want to fund, say, Barclays account?

Let me ask it another way is there anyone with 5+ accounts and can you tell me how you fund each of these accounts as your wage only goes into one account,do you use faster payment and cycle the accounts.