Which saving account is best for me

awolo1

hi there, currently bank with BOS - I have my reward current with them where I get £5 if I pay in over £1000 a month and a backup current account and internet saver account (which has £6000 in it)

I'm looking for the best option for my banking, I've noticed they have severely reduced the interest on my internet saver account now - must have been a special 12 month thing when I took it out a couple of years ago - I'm based in Manchester and so there is no BOS branch up north anymore - they are all in Scotland.

I will add to my savings every month, but want the ability to take some out if need be. I want something a lot better than what I currently have. If it means I have to change banks - so be it, savings and current, that is.


Cheers guys

innovate

Welcome newbie. Please start by reading http://www.moneysavingexpert.com/savings/savings-accounts-best-interest and keep in mind that you are not compelled to keep all your financial affairs with a single bank

G_M

awolo1 wrote: »

hi there, currently bank with BOS ...

I'm looking for the best option for my banking, I've noticed they have severely reduced the interest on my internet saver account now -

This is where you need a change of attitude. Your statement seems to imply that because you 'bank' with xyz, you must use them for everything.

You can keep banking at BOS for your current account - the £5 per month is a good reason for this. And do you need a branch? You can withdraw cash at any LINK ATM, and use telephone/internet banking as well.

As for savings, you do NOT have to use the same bank. Indeed, the worst thing you can do is start by looking at BOS savings accounts just because you 'bank' there.

Use a savings comparison site (Moneyfacts, Moneysupermarket, and the advice in this site too) and choose the best savings account. With Faster Payments you can transfer £ between your BOS current account and any other banks savings account same/next day.