Whats best for me! Please Help!

sugamuma84

Hi All!

I am looking for some advice please!!! Ive got myself in a bit of a muddle checking out the features and benefits of the latest current account deals.

My partner and I are moving into rented accomodation on 7th June.

I would like to open an account that we can simply pay our bills out of...

The amount of money going into the account will be a min of £1000 a month and is more likely to be closer to the £1500.

Ive seen lots of accounts where you can get £5 a month for being in credit (which we always plan to be) as well as other benefits like cashback on bills (Santander 123)

They often have a minimum monthly deposit, does this need to be deposited all at once? I ask because my partner and I will be paying into the account via a standing order (him on the 21st of the onth, me on the 24th of the month)
And will they penilise us because our actual salary will not be going in directly?
Will we still be eligible for the £100 swop to our account schemes also as this will not be my sole account?

Maybe Im complicating the need far too much, but Im really not sure how other couples fairly arrange their bills etc.

Please someone give me a slap in the right direction!

Louise :mad:

chazzie83

Louise

I've just opened up a bank account with Halifax to get the £100 cashback I would suggest booking an appointment with whoever you want to go with and ask the question if they say no just move on to another bank but would of thought it would be ok with what you want to do.

Hope this helps

AlwaysLearnin

Eligibility and adequacy are decisions for the bank and yourself respectively. However, to try to help you out a bit with a real life example, we have a Santander 123 account which is funded from transfers from another bank (i.e. not wages direct). This gives us the cashback on qualifying direct debits and 3% interest (over £3k balance) which more than covers the £2 p/m fee, so works for us. That could therefore be a good start point for you to look at. Cashback is also available for new accounts too (e.g. quidco).

You can potentially have multiple current accounts, therefore could add to this to get multiple benefits from other institutions (subject to eligibility), but that might be the next step; something for the future. See the threads on halifax reward etc when ready

Hope helps