Easy savings

teezie

Sorry for yet another savings thread, but I'm kinda over whelmed reading through all the different threads with all the different accounts. (i'm the sort of person who gets flustered in Starbucks due to the amount of options thrown at me when ordering coffee).
We have recently sold our house and renting for a couple of years (Moved from North West - South East so cannot afford to buy yet), we have approx £19k that we want to get as much interest on as possible, but we don't want to tie it up in case something comes up earlier than our ETA of 3 years. We also plan to add to it, likely on a monthly basis either by standing order or whatever is easiest.
I've heard a lot about current accounts being best, but don't particularly want one where you have to be shuffling money in and out if that can be avoided? Any advice gratefully received

jimjames

teezie wrote: »

I've heard a lot about current accounts being best, but don't particularly want one where you have to be shuffling money in and out if that can be avoided? Any advice gratefully received

If you don't want the hassle of moving money each month then you're limited to savings accounts - check the links at the top of the forum.

The best rates are current accounts and do involve some effort - but it's worth it for the additional interest in my view as the effort is pretty small.

eskbanker

teezie wrote: »

We also plan to add to it, likely on a monthly basis either by standing order or whatever is easiest

If you're planning to do this, then:

1. consider regular savings accounts as per link above
2. consider current accounts as the required money shuffling can easily be handled by such SOs that look after themselves with no effort once set up!

teezie

jimjames wrote: »

The best rates are current accounts and do involve some effort - but it's worth it for the additional interest in my view as the effort is pretty small.

I dont mind transferring money in / out I suppose, but some I've seen for example require you to have several direct debits going out per month, and I'd rather deal with bills via my main current account

bsms1147

Many have kept all their 'real' direct debits on their main account and have set up direct debits to Tesco savings accounts for this purpose. Takes the best part of a few minutes to achieve.

mozzy10

bsms1147 wrote: »

Many have kept all their 'real' direct debits on their main account and have set up direct debits to Tesco savings accounts for this purpose. Takes the best part of a few minutes to achieve.

Is it just to Tesco savings accounts or can any savings account do this?
Can you use direct debits to your paypal account?

Eco_Miser

There are others: https://forums.moneysavingexpert.com/discussion/5126573 and you can use paypal.

mozzy10

Thanks for the link ECO MISER