My savings....

GTR_King

Ok thanks for that advice but will only open one TSB A/C (Don't need 2) & will open Barclays A/C & Every day saver A/C with cash card for now.. I do like HSBC been with them since I was 12 years old... But they don't offer me anything good with my Current A/C & Savings A/C & I feel there is better out there... I am good with my money & don't need & Overdraft at all (not at the moment). So will sort out my Bank A/C's soon (Don't know when) but will let you know what happens etc..

Archi_Bald

:wall:

Never turn down a current account if you can have one. The least you can use it for is as a donor account for switching to another account for a bonus.

But turning down a 5% account in favour of a 3.2% (max) account actually hurts.

:wall:

ColdIron

Barclays have pulled their Regular Savings account some time ago and is not available to new customers. The Everyday Saver pays 0.31% interest on balances < £10,000 and includes (if you can believe it) a one year bonus of 0.21% so you'd be down to 0.1% after a year

GTR_King

Yeah I will go for the Barclays Everyday Saver with Barclays Current A/C (Open that 1st)

Just wanna use Everyday Saver for saving money fort a rainy day..

I have just payed off my Macbook Pro today (Did buy now pay 12 months later) with PC World...

Will that Affect me opening TSB Classic Plus A/C & Barclays Current A/C. I hope not..

gonna open Barclays Current A/C & Every day Saver 1st (Online) & move some money into it from HSBC A/C.. So got enough Left for the 5% TSB Classic Plus A/C then move everything from HSBC To that A/C..

That way I can access some money whilst the switch takes Place...

colsten

Run this by us again please - why would you want to put any money into an account that pays 0.31%, and then 0.1% after 12 months, when you can get from 10 times as much (3, 4 and 5%) in many current accounts? Or even only from 4 times as much in a bog-standard savings account, or from 5+ times as much in an instant access ISA?

GTR_King

I am gonna Open TSB Classic plus A/C That give's you 5% interest rates under £2000 in the A/C and will open Barclays Current A/C For rest of money and every day saver just to put some money away... Not fussed if interest rate is low on Barclays Everyday saver A/C... Will make interest on TSB A/C... So at end of every Month will make sure there is less than £2000 in TSB A/C & enough so that I can make interest on it & Move the rest of the money into Barclays A/C & Barclays Everyday Saver...

colsten

OK, I'll try one final time before I admit defeat in the face of utter pigheadedness:

Why would you put money into a 0.1% account if you can put it into a 5% account?

You could very easily get almost 50 times more interest. FIFTY. FIFTY. FIFFFFFFF-TY for goodness sake.

I have just pinched myself. Yes, I am still on MSE. But there is one poster who wants to get one fiftieth of the interest they could get. A-M-A-zing(ly stupid). (or perhaps a troll?)

GTR King, I would fully understand if you were by now too embarrassed to admit that your Barclays idea was simply stupid, but I sincerely hope you will just quietly try to get a second TSB Plus, or the next best current account. Good luck.

jimjames

colsten wrote: »

I have just pinched myself. Yes, I am still on MSE. But there is one poster who wants to get one fiftieth of the interest they could get. A-M-A-zing(ly stupid). (or perhaps a troll?)
.

In some ways I hope the OP goes ahead and opens the account paying 0.1% and fills it up in preference to an account paying a decent rate.

The more people that do that, the longer the accounts will remain paying high amounts of interest to those of us that are prepared to use them.

colsten

You are right, really, jimjames - - we should both stop encouraging people to make the best of their money, and so should all the others that have been encouraging people to maximise the interest they can get from their savings.

Let's just tell everyone to put all their cash into cash ISAs, lol.

Not sure how that approach would sit with GTR King though as returns from cash ISAs would probably destroy their plan to systematically lose money to inflation.

GTR_King

Thanks for your advice and all my money will go into My TSB Plus A/C e.g wages etc.. and will use that for the 5% and Barclays A/C is for spend for stuff on my self & u get phone insurance RAC Breakdown cover as well & travel insurance with that A/C so that why I going with barclays....