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2.1% Easy Access - Can it be beaten?
Comments
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If I opened a second 123, for me the return would be 3.04%, a third would make it 2.98%. If you had a mortgage with Santander or higher utility bills a third account could still top 3%. I guess it's all down to personal circumstance but to assert that the return will be less than 3% simply isn't the caseYorkshireBoy wrote: »But 2nd and subsequent 1-2-3 accounts can't benefit from an overall increase in cashback can they?...so they will in fact pay circa 2.88%?0 -
I had no problem opening 3 x Lloyds and 1 BoS but hit resistance on phone when tried a second BoS. Will have to try again with another phone call.
You can only open 1 BoS account per 24 hours, so it'll take at least 3 days to open all 3.
It also depends on who you talk to. Some people want a "valid" reason for opening a second account (eg. for paying bills), whilst other will quite happily accept "Savings account". So I have 2 savings accounts and 1 Bill paying account.0 -
Taking into account the 2.00 monthly fee, the return on your savings will be less than 3% on these accounts.It will be 2.88% but if you also take into account the cashback on utility bills the return on your savings could be more than 3%, in my case it's closer to 3.2%
Running council tax and a tiddler through one and Energy bills and phone through another pays for the monthly fees - in my case.."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
You can only open 1 BoS account per 24 hours, so it'll take at least 3 days to open all 3.
It was several weeks after first account opening.
It also depends on who you talk to. Some people want a "valid" reason for opening a second account (eg. for paying bills), whilst other will quite happily accept "Savings account". So I have 2 savings accounts and 1 Bill paying account.
BIB - yes I think that was it. Can't remember what I said, I'll try again.0 -
I had no problem opening 3 x Lloyds and 1 BoS but hit resistance on phone when tried a second BoS. Will have to try again with another phone call.It was several weeks after first account opening.
BIB - yes I think that was it. Can't remember what I said, I'll try again.
I didn't have any problem opening 3 x BoS Vantage accounts at the beginning of this year (already have 3 LTSB). I left 6 weeks between opening BoS 01 & 02, and during that time made several payments from 01 so it looked like 'normal' current account use
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I opened 03 the day after opening 02.
It does seem to be a bit hit and miss - keep trying and good luck.0 -
Also the 123 current account gives you (or did?)access to Santander's 2 year 3% fix ISA. Initially I opened my 123 account for that alone.It will be 2.88% but if you also take into account the cashback on utility bills the return on your savings could be more than 3%, in my case it's closer to 3.2%0 -
Don`t forget for every 123 account, is costing you £24 a year in fees plus conditions.
123 Current Account Frequently Asked Questions (FAQ's)
Don't forget, to earn cashback and interest, you must pay in a minimum of £500 each month, have at least two direct debits set up on your account and pay the £2 monthly account fee. To earn credit interest, you also need your balance to reach a minimum of £1,0000 -
Don`t forget for every 123 account, is costing you £24 a year in fees plus conditions.
123 Current Account Frequently Asked Questions (FAQ's)
Don't forget, to earn cashback and interest, you must pay in a minimum of £500 each month, have at least two direct debits set up on your account and pay the £2 monthly account fee. To earn credit interest, you also need your balance to reach a minimum of £1,000
er, did you read that the OP has £50k to stash?The questions that get the best answers are the questions that give most detail....0 -
I already have the Lloyds Vantage and would prefer not to set-up additional BoS / Santander accounts that need direct debits/regular transferrs as I have, once or twice before, come unstuck and gone overdrawn on these current account linked accounts . . . ... so would like to know if 2.1% for £50k+ can be beaten for an instant access, 90 day notice or limited withdawls savings account.0
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