Best account for savings?

DeanMB

As I've mentioned previously on here I'm looking to put my money in the best accounts possible.

I've got a lump sum of £3935 in my savings at the moment, of which £2500 will be going into a Nationwide Flexdirect account as this seems to be the best place for any money to go at the moment.

On top of this I'll also be opening a Halifax Reward account so that I can get the £100 switch reward and the £5 a month payout. Whilst we're on that topic, how long does the £5 last for? I'm pretty sure somebody in branch told me it was for the life of the account.

After the Nationwide account has been filled, I'll be left with £1435 which I don't really know what to do with. The original plan was to stick it in the Flexclusive ISA after three months of having the current account, but I'm not sure whether that's the best deal out there?

TL;DR - Already filled Nationwide FlexDirect, where's best for my £1435?

leeroy2009

you could try a sneaky 2nd flexdirect, cough cough

DeanMB

leeroy2009 wrote: »

you could try a sneaky 2nd flexdirect, cough cough

Yeah, I've thought about doing that. It's a possibility but I want to be sure that I'll get my interest each month really. Are people generally getting paid out?

Any other suggestions?

innovate

DeanMB wrote: »

Whilst we're on that topic, how long does the £5 last for? I'm pretty sure somebody in branch told me it was for the life of the account.

That is without doubt an incorrect statement or an incorrect recollection. There's a huge thread on here about the Halifax fiver, there are pre-reqs that have to be met every month. See their website, too, for the detailed T&Cs.

As with any account, Halifax are able to change the T&Cs when they feel like it - - they will have to give us notice but there is nothing that would stop them from making changes. They made some significant changes just a few weeks ago.

DeanMB

innovate wrote: »

That is without doubt an incorrect statement or an incorrect recollection. There's a huge thread on here about the Halifax fiver, there are pre-reqs that have to be met every month. See their website, too, for the detailed T&Cs.

As with any account, Halifax are able to change the T&Cs when they feel like it - - they will have to give us notice but there is nothing that would stop them from making changes. They made some significant changes just a few weeks ago.

Yeah there's obviously the 2 DD's and the £750/month rule, as with other bank accounts. The plan is just to add it to the SO circle and fund it with the £1k that I'm paying in and out of the Nationwide account. I'll have a look for the thread and give it a read.

leeroy2009

DeanMB wrote: »

Yeah, I've thought about doing that. It's a possibility but I want to be sure that I'll get my interest each month really. Are people generally getting paid out?

Any other suggestions?

2nd flex and yes lol.

just stick it in for the last 2 days of the month and see what happens.

leeroy2009

by the way you don't need to wait three months if your referring to £750 each month for 3 months, that's for another account.

you can have a flexeclusive isa now