Alternative multiple online savings accounts post ING Direct sale to Barclays

piemanpete

plunt wrote: »

Ah sorry i wasnt aware of that! How many accounts do you need? I know i had 7 santander current accounts at one go. Lloyds you can have 3

Six will do nicely.

vman

How did you get on?

I'm using all ten of my ING accounts (basically any annual bill more than about £150, I create a savings account for, i.e. Christmas, road tax, car insurance, etc). I have a nasty feeling Barclays will screw it up when it goes over to them properly so interested in what options are available.

innovate

As an alternative, you could just put all of the money into one single account that actually will pay you half decent decent interest.

Just use a spreadsheet to record the provisions you have made, and when you use the provision. If spreadsheets sound to complicated, just jot things down on a piece of paper.

piemanpete

innovate wrote: »

As an alternative, you could just put all of the money into one single account that actually will pay you half decent decent interest.

Just use a spreadsheet to record the provisions you have made, and when you use the provision. If spreadsheets sound to complicated, just jot things down on a piece of paper.

Well it's been a while since I posted this and in the interim we did indeed open a number of Santander accounts, which are pretty easy to run online, but you're right: the interest rate is rubbish. Having said that, the money isn't there for long, so it's the convenience as much as anything.

Thanks for everyone's help and suggestions.

Archi_Bald

I think you might have misunderstood what innovate was trying to suggest: it is not about a number of accounts, but about one account with a decent interest rate.

piemanpete

Archi_Bald wrote: »

I think you might have misunderstood what innovate was trying to suggest: it is not about a number of accounts, but about one account with a decent interest rate.

No, I didn't misunderstand. I quite see the logic of a single 'bucket' account paying a better rate of interest and managed with a spreadsheet.

vman

innovate wrote: »

As an alternative, you could just put all of the money into one single account that actually will pay you half decent decent interest.

Just use a spreadsheet to record the provisions you have made, and when you use the provision. If spreadsheets sound to complicated, just jot things down on a piece of paper.

Not really the same though, the average balance across all the accounts at any one time means any extra interest is tiny so doesn't justify the phaph. This isn't used as a savings account, its more just a petty cash/working fund. I'd happily forgo a few pence per month for the convenience.

Any ideas who else is offering multiple account buckets anyone?

Archi_Bald

You should team up with the 2 guys on this thread and make a business case to the banks for the functionality you would like to see. I fear, however, they'll just tell you to use a spreadsheet or a piece of paper or some budgeting app to manage your budget.

I also can't see why you would want to turn down interest if you can have some, but each to their own.