Please reassure me!

Gromitt

Archi_Bald wrote: »

That is true. If, however, the current account pays a lot more than any savings account, as is reality these days, then there is no point in keeping your money in a savings account.

Plus, banks such as Santander will send you a weekly text message stating your current balance and recent transactions, so your always on top of things. I now feel that this is more convenient than logging in every week, and of course, the less times you login, the less chance you can hit a fake page or someone grabbing your login details.

I don't know of any banks that will send you a text message of a savings account.

fozmcfc

Don't disagree with either of the last posts.

But I find the easiest way to see my accounts, is the Natwest APP on my smartphones.

It gives me, very quick access to my account, taking approximately 5-10 secs to log in.

It has a large amount of functionality, including seeing recent transactions and historic transactions, plus transfers and payments between accounts and people, amongst other things.

I guess it depends on how many accounts you have and with how many different places you have your money, as to what works for the individual.

Archi_Bald

fozmcfc wrote: »

But I find the easiest way to see my accounts, is the Natwest APP on my smartphones.

Hmh, they might have a great smartphone app, but that's about it. Their savings rates are rather dire.

I am told the Santander app isn't bad, either, btw.

JuicyJesus

Archi_Bald wrote: »

Hmh, they might have a great smartphone app, but that's about it. Their savings rates are rather dire.

I am told the Santander app isn't bad, either, btw.

Oddly enough, one can have current accounts with one provider and savings accounts with another

rb10

JuicyJesus wrote: »

Oddly enough, one can have current accounts with one provider and savings accounts with another

But why you would want either current or savings accounts with Natwest is beyond me ... both types of product are equally dire.

JuicyJesus

rb10 wrote: »

But why you would want either current or savings accounts with Natwest is beyond me ... both types of product are equally dire.

You'll hear no argument from me on that point.

Archi_Bald

JuicyJesus wrote: »

Oddly enough, one can have current accounts with one provider and savings accounts with another

I don't think I have said anywhere you must/should have your current account(s) and your savings account(s) with the same provider.

BobQ

Gromitt wrote: »

If you are worried about someone wiping you out via your debit card then the easiest way would be to simply open a second Santander 123 account, then you keep your savings in one account (where you never use the debit card) and your spending and wages in the other.

If you intend to keep less than 3K in the other account then a "standard" current account will do, so no need for the £2 fee.

I agree with this advice about using the 123 just for savings. However, I would advise doing something more than "never using the debit card". I would not apply for the debit card at all so that this method can never be used to remove money. I know this is possible since I do it myself.

Another suggestion is not to pick any old DDs on the 123 "savings account". Choose two that are from reputable organisations, ideally ones that hardly ever change so you can spot any unusual activities, like your council tax or life insurance.

Also do not forget to replenish your savings when these DDs are used!

tabby_cats_mum

Thanks to everyone who replied. I am going to use another bank account for my spending and just transfer money across.
I do check my bank accounts every day online (I was once the victim of the Stagecoach fraud).
I'm just having a crisis as I don't usually have any savings and my current account is normally empty by the end of the month!

artbaron

Bear in mind that when fraud is committed it is committed against the bank, not against you. The idea that a fraudster takes your money from the bank is a myth that is perpetrated constantly by the banks, by the media and on this site. What actually occurs is that someone might use your card details to obtain the bank's money. You only become liable for that money if it can be proven you have breached the conditions of your account holding, e.g. by giving someone else your details, not keeping your card or details secure or by authorising payment through some sort of scam (although in the latter case you'd normally still not be held liable).

This disingenuous notion of you being a victim of crime and the nice bank jumping in to help, out of the goodness of its heart, needs to be challenged at every opportunity.