How many current accounts is it OK to have.

YorkshireBoy

Archi_Bald wrote: »

Let me guess - HSBC?

I'll have a couple of quid on RBS (because I've done some research ).

iAMaLONDONER

YorkshireBoy wrote: »

I'll have a couple of quid on RBS (because I've done some research ).

Please share- what was the outcome of your research? ANd how did you come to that conclusion?!

platterfish

iAMaLONDONER wrote: »

Please share- what was the outcome of your research? ANd how did you come to that conclusion?!

Look at the posters old post, they talk about being accepted for a job there.

Fran.Guester

OMG, this has really enlightened me. I thought I had a lot with 3 current accounts. I'm going to have to signing up for some of these higher interest accounts!

blindman

anna42hmr wrote: »

These days with such rubbish saving accounts rates, the banks are making it more attractive to people to use current accounts as savings accounts instead,

This hits the nail on the head

however with the limits of what they will pay interest on or numbers of accounts, mean that people have to have more than one.

If you have a largish amount of savings this is now the only option to get a decent interest rate, without going down the stocks and share route.


Ps easy way for the banks to stop customers using the current accounts this way if they do not want us to do this is to pay something remotely reasonable on their savings account range instead!

If the banks paid decent interest rates for loyalty we'd all stick with one.

Due to the faster payment options and Internet banking it's so easy to transfer amounts into\out of accounts to meet minimum requirements.

So I, like many others, have several accounts for different purposes:

Cahoot:-
Had this one 20 years (?) Always in overdraft (free) -Use it as reference when applying for anything financial. I assume its good for history
Some money does go in from dividends and other historical payments.


Santander 123 Joint:-
Main account for DD's (cashback) and interest of 3% over £3K (up to 20K)
also use their Zero CC-Good for overseas spending.

Nationwide (4)
2 Sole and 1 joint 5% accounts.
1 Joint Flex :- for the free overseas Insurance:- I pay £20 annually to make it Worldwide for two of us

Halifax
For the £5 per month

N&P Gold
For the Overseas cash withdrawal:-No comission.

Lloyds Vantage (3) 3% on £5K
TSB Vantage (3) 3% on £5K

Yorkshire (2)
1 Joint and 1 sole 4% on £3K

So I may that 15 accounts at the moment

Along the way Opened and closed for various offers.

Alliance and Leics
Co-Op
First Direct
and possibly others I've forgotten.

Gytautas7

2 accounts are perfect don't use much more

innovate

I think 29 is a good number.

blindman

innovate wrote: »

I think 29 is a good number.

Sheldon Cooper thinks it's 73

Raj thinks it's 5,318,008

Archi_Bald

You could of course argue the correct answer is 42.

badger09

I think its probably the number I have already



plus 2 or 3..... or maybe 4