A continuation of my query, £60,000

Matty007

Due to the support of a few guy's on here regarding my parents, £60,000'sh money.

On the recommendation of this forum it seems the best way to have instant access to £60,000 is through 2 particular accounts, Santandar 3,2,1, 3% and TSB Classic Plus Account 5%.

I have opened on my parents behalf the following:

2 each TSB @ maximum of £2000 per account to receive 5% (£8000)

1 each plus 1 joint @ maximum of £20,000 per account to receive 3% (£60,000)

Now my next challenge is the best way to move the money around to qualify for the £500 credited per month per account.

I am thinking that will need to mirror up my TSB accounts with each of the 3 Santandar accounts and have a weekly standing order on say a Tuesday @ £125 per week and rebound the money from Santandar the same day ???

That would then leave 1 TSB account unuse not used in this process.

I assume I would just do another £125 per week and let that rebound too ??

My heads spinning, so if someone might make this process clearer for me that would be appreciated.

Over to you and thank you

Matty007

soulsaver

Caveat: Didnt see previous posts. Suggest - keep it simple.
TSB needn't be from external so transfer MONTHLY by S.O. £500 between the TSB acs AtoB, BtoA on same day, for each pair. Thats TSB funding PM satisfied.

Sntndr must come from external - so MONTHLY s.o £500 from TSB A to each Sntndr ac, as long as you keep funds in the TSB a/c available - suggest you nominate one account to do it from and make 'it out of bounds'.
S.O. back to same TSB ac same day from each sntndr a/c.

If you cant do £500 in one go then you'll need a smaller figure repeated a few days later and again if necessary.

And did you not consider LLoyds Club? £5k @ 4% x 3 a la sntndr?