Moving from Co-op

Organist

Which provider would you recommend? I was wondering about Lloyds/TSB or Nationwide to get some interest on the current account. I already have a Santander 123 account.

KKmatters

Not sure if it helps but my parents have been with Barclays since the year dot and upon retirement moved to Nationwide - they sing their praises for customer service, ease of use and added bonus interest/european travel cover :-)

jonesMUFCforever

Why have so many accounts - do you REALLY need them all?

innovate

jonesMUFCforever wrote: »

Why have so many accounts - do you REALLY need them all?

Presumably these accounts all have their distinct benefits. I just opened 2 more myself yesterday, bringing my total number of current accounts to 17.

In answer to the OP: what is "recommended" depends on your personal requirements. All banks/BSs are much of a muchness. You could have a look at what it says on the main MSE site about current accounts. http://www.moneysavingexpert.com/banking/compare-best-bank-accounts#credit

pmduk

jonesMUFCforever wrote: »

Why have so many accounts - do you REALLY need them all?

From his post the OP will have two accounts. Hardly enough to justify the above question, particularly as the advice regularly given on here is to have accounts with more than one banking group.

1jim

BugsyBrowne wrote: »

Just waiting for the usual reply" but I use all these current accounts for their cashback and benefits which earns me am extra £4.87 a week"

and that's around £20 a month, which is £240 a year.

Each individual has to work out for themselves if the work needed to get this is worthwhile or cost effective. For some people it won't be, for a lot it is. If its not for you that's great but not really fair knocking someone for who it is worth the effort

Hurri

BugsyBrowne wrote: »

Just waiting for the usual reply" but I use all these current accounts for their cashback and benefits which earns me am extra £4.87 a week"

A free extra £4.87 a week? Where can I sign up?!

To the OP:- whilst not strictly 'interest' (in percentage terms), given you said you already have a 123 account, have you given the Halifax Reward Account any consideration?

Anthorn

lol I just moved to the co-op's Smile which does have its advantages: Like current account holders who are co-op members who fund their current account with an average of £800 a month get 1,200 points a year. And current account holders who have at least £100 in a cash ISA get 300 points a year. Now if points are worth 1p each when the dividend is declared that's ... er ... umm ... oh you work it out, my mind is a blank.

The last dividend was cut in half to 0.5p creating quite some controversy and dissent:
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9708620/Co-op-divi-cut-in-half.html

You're already getting interest on the 123 account if you have £1,000 in there and getting cashback on DDs so I'd say staying with the 123 account and funding that exclusively is your best bet.