What to do with 3k...

Starbrite

Sounds a daft question, but I have £2,985.91 and no idea what to do...

I have an ISA a save to buy ISA ultimate dream however this is only at the 2.5% rate (don't quote me but that's roughly the rate, I know it is no higher)

Also have a pension which always needs more in it!

Ideally I'd like to "lock it away" and watch it grow... a nice 14% interest account would be wonderful...

xylophone

Open a couple of TSB Plus accounts and set up a monthly SO between the two for £500.

http://www.tsb.co.uk/current-accounts/classic-plus-account/

benalder284

The best savings rates are currently on current accounts if you can meet the relevant terms and conditions.

jimjames

benalder284 wrote: »

The best savings rates are currently on current accounts if you can meet the relevant terms and conditions.

Not very difficult to meet the conditions on the tsb one if you have £3000

colsten

jimjames wrote: »

Not very difficult to meet the conditions on the tsb one if you have £3000

and online banking

Starbrite

Sorry I don't fully understand..

So I open up two TSB accounts then set up a direct debit between the two for 1K? But the TSB site says a max of 2k....

ColdIron

You need to setup standing orders not direct debits and it's for £500 not £1,000
The £2,000 limit is per account which is why you want to open two of them

Archi_Bald

• You open 2 TSB Plus accounts, with online access
• You put £1,500 into each
• You set up Standing Orders (not DDs) on each of them, to send £500 to the other one, on the same day.
• You set correspondence and statements to 'online'
• You sit back and see the monthly interest being added automatically
• You keep an eye on interest rates

Kim_Possible

The t and c say limited to 1 sole account. Was this an issue for other posters ^^
http://www.tsb.co.uk/assets/pdf/current-accounts/TSB10146_175702_1014a_V1_Web.pdf

B_G_B

Kim_Possible wrote: »

The t and c say limited to 1 sole account. Was this an issue for other posters ^^
http://www.tsb.co.uk/assets/pdf/current-accounts/TSB10146_175702_1014a_V1_Web.pdf

I have just checked against copy of T&C’s from a few months ago. They have changed. There was mention on another thread that this restriction was coming. Looks like it has arrived a little earlier than expected.

Eco_Miser

Kim_Possible wrote: »

The t and c say limited to 1 sole account. Was this an issue for other posters ^^

That's new! Judging by the document id TSB10146 it came in last Monday.

I wonder if they're going to amalgamate or otherwise close existing accounts for all of us who have two of them.