Bad credit with money and no debts - I want a decent savings account

davethorp

You'll be able to tell when your "santander month" is up because thats when the £2 account fee will get taken and your interest paid. Just keep an eye on your internet banking for the monthly account fee

Don't forget if you have any household bills that qualify for cash back it would be worth putting them through the 123 account by setting up or transferring your direct debits. Depending on the size of your bills, the cash back can easily eclipse the £2 a month account fee

colsten

Aquamania wrote: »

You don't need anywhere near £50K-£100K to invest to seek the advice of an IFA, and of course they will be interested if it is less.
e.g. many people seek advice from an IFA to assist them in choosing a suitable ISA for home for say £5k-£10k

If you are relatively young and are contributing regularly to some investment, then of course an IFA will be very interested. If you just have got a one off lumpsum of much less than £100K, no reputable IFA would be interested.

Anyway, the OP struck lucky and has found a home for his lumpsum.

Aquamania

colsten wrote: »

... If you just have got a one off lumpsum of much less than £100K, no reputable IFA would be interested...

Baloney .

jimjames

Aquamania wrote: »

You don't need anywhere near £50K-£100K to invest to seek the advice of an IFA, and of course they will be interested if it is less.
e.g. many people seek advice from an IFA to assist them in choosing a suitable ISA for home for say £5k-£10k

Aquamania wrote: »

Baloney .

Let's word it another way.

If you go to an IFA with a lump sum of £5k to invest their fees will wipe out most of the lump sum so it isn't a viable option.

Not sure when you last used an IFA but the market has changed a lot and they are no longer allowed to use commission to fund their services so charge explicit fees. If you spend £1000 of a £5000 sum on fees then that isn't very sensible even if it is possible.

Most IFAs will not advise on investing a £5k lump sum in an ISA any more.

dunstonh

If you just have got a one off lumpsum of much less than £100K, no reputable IFA would be interested.

That is rubbish. Whilst high net worth firms or city based firms may have higher initial amounts, many will go much lower than £100k. Even £10,000 can be profitable for many IFAs although its gets harder to find ones willing to offer services under £25k.