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is it worth it? transferring between accounts
Comments
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To be honest ........ For me, it seems to be a lot of faffing around.
But if you think it's worth it, then there's no reason to stop, although setting up standing orders will stop the manual workEarly retired - 18th December 2014
If your dreams don't scare you, they're not big enough0 -
NowRetired wrote: »That's why I have 4 current accounts, 2 savings accounts, my wife and I an ISA each and 5 credit cards.
Don't take this the wrong way please, but with those numbers you are just a minion amongst the rate tarts/bagging giants. Try over two dozen current accounts, maxed S&S ISAs and SIPPs, a few Regular Savers and the odd other savings account. And of course some cashback and/or 0% credit cards. Leaving the longer term investments to one side, if you have the funding for all this, you can make thousands a year that way, with very little effort.0 -
Don't take this the wrong way please, but with those numbers you are just a minion amongst the rate tarts/bagging giants. Try over two dozen current accounts, maxed S&S ISAs and SIPPs, a few Regular Savers and the odd other savings account. And of course some cashback and/or 0% credit cards. Leaving the longer term investments to one side, if you have the funding for all this, you can make thousands a year that way, with very little effort.
The OP's wife will think you are fuelling the obsession!Early retired - 18th December 2014
If your dreams don't scare you, they're not big enough0 -
Goldiegirl wrote: »The OP's wife will think you are fuelling the obsession!
Next she'll be trying to scratch my eyes out
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Don't take this the wrong way please, but with those numbers you are just a minion amongst the rate tarts/bagging giants. Try over two dozen current accounts, maxed S&S ISAs and SIPPs, a few Regular Savers and the odd other savings account. And of course some cashback and/or 0% credit cards. Leaving the longer term investments to one side, if you have the funding for all this, you can make thousands a year that way, with very little effort.
after seeing this i am begging to know how much you make a month/year?
also any chance you can tell us your full banking? it would be like reading a book!
Hats off to you!!
i'm in the small league getting just £450 (not including cash back) a year off about £11k savings. with 4 current accounts, 4 saving accounts, 1 cash back credit card.Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)0 -
NowRetired wrote: »So £14 per month max.
Do you think it is worth it?
My wife thinks I'm mad. :eek: So do my sons and daughters.
What do others think?
Very easy to dismiss what appear to be relatively small amounts but over time they do build up so definitely worth it.
Same with buying fuel. 10p per litre difference doesn't sound much but at 40mpg thats another £140 per year.
As with the previous comments, try suggesting to someone that you'll take that sum away from them and you'd get a very different reaction!Remember the saying: if it looks too good to be true it almost certainly is.0 -
after seeing this i am begging to know how much you make a month/year?
also any chance you can tell us your full banking? it would be like reading a book!
I am very happy to share my experience in general or on specific accounts, and to offer my opinion, but I won't ever publish details of my banking on an Internet forum. I also only share details with one single person who has a need to know (for when I pop my clogs). Sorry.0 -
I am very happy to share my experience in general or on specific accounts, and to offer my opinion, but I won't ever publish details of my banking on an Internet forum. I also only share details with one single person who has a need to know (for when I pop my clogs). Sorry.
ok then i understand.
how about listing all the account names you have and their benefits? i'd love to know how you make up over two dozen current accounts.
how do you manage them all? do you not get mixed up at all? also what do you do with all the cards and how would you ever know all the pin numbers?Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)0 -
how do you manage them all? do you not get mixed up at all? also what do you do with all the cards and how would you ever know all the pin numbers?
There are services which can combine your accounts into a single web page. SOs can help you meet all the minimum funding requirements.
I have loads of cards and keep them all in the safe. I've no idea of the PIN numbers for most of the cards and don't really care as I've no use for the cards.0
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