More than one current account

colsten

ceredigion wrote: »

All together now


OH NO YOU DON'T
:j:j:j

YorkshireBoy wrote: »

PS, twice on this thread you've made mention of DDs having to pay out from Santander. Unless you know something the rest of us don't yet (including the Santander website), you might want to edit your posts to avoid any confusion for newbies?

To be fair, erring on the cautious side seems a safer bet, not just for newbies. Else we could see more "Santander sharp practice" threads.

I have several 123s myself, with all my cashback earning DDs on one of them, and 2 monthly paying £1 DDs into Tesco on the others. Although I could obviously have set these others up with a lower payment frequency and still not have lost any interest or any sleep over forgetting that the mandate might get cancelled if it doesn't pay at least once in 13 months.

jennifernil

YorkshireBoy wrote: »

I use Tesco current accounts to mop up the Tesco savings account balances each month, ie I log in to make sure all DDs have arrived and everything's OK, and then move the savings account balances (bar £1 in each) to the current accounts.


Of course this is only beneficial if you leave some headroom in the current accounts, which I do with most of my accounts...just to save on a little admin!


PS, twice on this thread you've made mention of DDs having to pay out from Santander. Unless you know something the rest of us don't yet (including the Santander website), you might want to edit your posts to avoid any confusion for newbies?

Yes, my apologies, I had a bad experience with a Halifax Reward account when a DD that was set up was then somehow paid out, cancelled and returned, so the account lost the Reward status, so I have become somewhat paranoid over DDs actually paying out!

Formal complaint to Halifax got nowhere.

Have edited a couple of posts so they are hopefully correct now.

burgoyne93

Well I don't have over 20k in savings and would prefer as few accounts as possible so it looks like the Santander one is the best for me. Since finding out you can have DDs that aren't active monthly as the 2 I should be fine to move my quarterly electric DD and monthly mobile bill across, that should just about cover the majority of the £24 a year account fee too!