Do you really need a Current Account ?.

GetRealBabe

Hi

My wages are paid into my YBS savings account (cash card only no debit card) but I still have Santander and Halifax accounts.

I doubt I could manage without my current accounts especially when it comes to direct debits, standing orders and online shopping, (I don't have a credit card)

anoncol

Ryan101 wrote: »

Let’s say a person has £20k in savings, Spread around various bank current accounts paying between 3% - 5% such as TSB, Lloyds Club, Bank of Scotland Vantage etc.

I dont understand your OP, because they are all current accounts.

jennifernil

LplateSaver wrote: »

Second free experian trial is saying that

I meant the ones mentioned by the OP. Tsb accounts are overfilled, would fill Llyods current account mid next month, then I can use regular saver for same interest if I'm reading right? Anyway Id need the Bos ones by early December, mid January and march but am hoping to apply for a mortgage in August.

It will very much depend on your circumstances.

As a pensioner with only a very small pension, I don't look a good risk. But my husband has a very good pension, so mine is all saved.

As a non-taxpayer, almost all our savings are in my name, so I appear "wealthy".

We own our own home, high value, no mortgage.

We have no debts, no credit card balances now. All CCs are cleared in full every month and always have been (though see below).

I don't need an O/D, nor do I request a cheque book, and would even prefer not to have (yet another) debit card.

So I think as far as any bank is concerned, I am very low risk.

I opened 3 BOS Vantage accounts within a couple of months, and 3 Lloyds ones too within a short time. When they went useless, I opened 2 TSB Classic + within a few days, closely followed by a Club Lloyds.

And a Santander 123.

2 years back we opened 2 x 0% credit cards, not for us but for our daughter to use as she was buying a new house and spreading costs of flooring etc was a good plan.

Absolutely no problem. But then I/we do not need credit, or a mortgage.