Second current account

Deakin

I'm recently widowed and finding it all a bit strange sorting out household accounts but my bank have been very helpful and I've no problems with the day to day payment of bills etc. However my husband used to pay for extras from his building society account which has now been closed.

I want to be able to do all my banking online and thought that an extra current account with a cash card would be ideal. I've looked at some accounts but they seem to want a regular monthly income of an amount which I couldn't pay in, some also want to pay at least 2 direct debits per month. As I'm quite happy with my present bank I don't want to do this, I'd also like a little interest on the money I want to keep in this account.

I'd be grateful for any advice on this,

EarthBoy

Try TSB Classic Plus account which pays 5% interest. You have to pay in £500 per month, but you don't have to keep it there; you can transfer it straight back out again. No direct debits required.

grumbler

Deakin wrote: »

I want to be able to do all my banking online and thought that an extra current account with a cash card would be ideal. I've looked at some accounts but they seem to want a regular monthly income of an amount which I couldn't pay in, some also want to pay at least 2 direct debits per month. ....

It's a common misunderstanding/delusion.
With very few exceptions, regular current accounts require income and/or DDs only for getting some benefits/perks.

Paul_1977

Which bank are you with now perhaps they provide an account which would be suitable?

Dobbibill

Hi Deakin,

Sorry to hear of your recent loss.

I agree with Earthboy in post #2 - TSB Classic plus is probably your best bet.

I've looked at some accounts but they seem to want a regular monthly income of an amount which I couldn't pay in, some also want to pay at least 2 direct debits per month.

This is normally the criteria they set for earning interest/rewards.

You have to pay in £500 per month, but you don't have to keep it there; you can transfer it straight back out again. No direct debits required.

This hasn't got to be in one lump per month either but can be several smaller amounts via a FP or SO across then back again, if you are paid weekly etc. The other criteria is to go paperless with them for statements and correspondence, which can be done via internet banking, so seems to fit nicely with something that you are looking to do anyway.

I want to be able to do all my banking online

All the best

DB

DCFC79

RBS, Barclay's are both good, been happy with both accounts, also have a TSB account which is also good.

colsten

Much depends on what your requirements are. If you want to earn any interest, stay clear of RBS and Barclays, but definitely consider TSB, Lloyds, Tesco, Santander, BOS.

Mojisola

Paul_1977 wrote: »

Which bank are you with now perhaps they provide an account which would be suitable?

I think it's worth having accounts with different banks - if one bank has problems with their systems, it can be useful to be able to access a different bank rather than be left without cash.

Paul_1977

Mojisola wrote: »

I think it's worth having accounts with different banks - if one bank has problems with their systems, it can be useful to be able to access a different bank rather than be left without cash.

Yes this is true, but the OP should make sure they really are different bank, not part of another bank as they use the same IT systems.