£12000 very short term investment

Archi_Bald

Ryan_Futuristics wrote: »

- I've already mentioned my local bank

would you mind mentioning it again?

Ryan_Futuristics wrote: »

- iPad seemed to be correcting it to FSCA - I didn't question this ... I was wrong and apologise for the confusion

now there's a start - thanks for admitting at least one of your many gaffes.

Ryan_Futuristics wrote: »

- Because the scheme was funded by the Bank of England, which is owned by the government

a little research will reveal that FSCS is not funded by the BoE. Here's another little hint for you: The FSCS is funded by levies on firms authorised by the PRA and the FCA. Presumably not even you would claim that the BoE is authorised by the PRA and the FCA?

Ryan_Futuristics wrote: »

- I don't really think it's necessary to disclose that

I can only conclude then that you have made that one up, like you made up a dozen other "facts" in this thread.

Archi_Bald

Ryan_Futuristics wrote: »

To answer both of you asking this - TSB charges £2/month

For Pete's sake, will you stop posting your misleading, made-up nonsense.

TSB charges nothing for any of their current accounts.

masonic

Ryan_Futuristics wrote: »

To answer both of you asking this - TSB charges £2/month, and on the tiny sums of money and interest we're talking here, that would hit your rate, I'd imagine

No they do not. I know that they do not because I have an account and have read through the T&Cs and account charges when I applied. If they had a charge, don't you suppose it might appear on their tariff of rates and charges on this page?

That's several times now you've been caught telling porkies. Do you even care whether there is any truth in what you post here, or are you just here to wind people up?

Archi_Bald

Ryan_Futuristics wrote: »

Okay, well I'm only here to learn

I've got £50k sitting completely aimlessly in a Money Market account

Even if you have to copy and paste, can you give me a simple, numbered, idiot's guide to exactly how to distribute and arrange this money, across specific platforms, so it'll make me an easy £1,500-2,000/year

Then maybe the OP can use it too

I'll keep a spreadsheet charting exactly how much it returns and how much work's involved in maintaining it

Somebody of your amazing capacity to research the most complex of matters should find it amazingly easy to find out how to stack £50K into interest earning current accounts.

Although you wouldn't really want engage in this current account stuff, would you, seeing that it is so close to a con:

Ryan_Futuristics wrote: »

It's right on the cusp of a con ... It might be technically legal, but no one wants you doing it ...

And what happened to Ratesetter, wasn't that better, anyway?

OK, I gotta move on now but I'll keep an eye on this thread, just in case you will post more stuff that you just made up and for which there is no proof.

Ryan_Futuristics

Santander - sorry .. Current accounts aren't my thing (as you've noticed)

Archi_Bald wrote: »

Somebody of your amazing capacity to research the most complex of matters should find it amazingly easy to find out how to stack £50K into interest earning current accounts.

It's not really worth my time, but if it's easy enough to do, it must be easy enough to communicate

For a free £2k, I'll come out of this thread happy, and you can pat yourselves on the back

masonic

Do you realise how condescending your previous post appears?

The OP has already been given enough information about how a couple could earn 5% on £12,000 by spreading it between current accounts. If you have a different question to ask, I suggest you start your own thread. You've already thrown enough straw men into this discussion. Nobody has made any assertions about the rate you could earn on your £50k using current accounts. Perhaps you could open with a question about that.

Gadfium

He's a Walt.

As in Walter Mitty.

jimjames

Ryan_Futuristics wrote: »

Santander - sorry .. Current accounts aren't my thing (as you've noticed)



It's not really worth my time, but if it's easy enough to do, it must be easy enough to communicate

For a free £2k, I'll come out of this thread happy, and you can pat yourselves on the back

Ryan, if these current accounts are not your thing, don't you think it would be far more sensible to stop posting complete rubbish about them. Either learn what the facts are or just ignore the thread. By posting incorrect information you're doing yourself and the site a disservice. You can clearly post detailed info on investment which makes it even more bizarre that you're happy to post garbage about current accounts.

harvey1964

Ryan_Futuristics wrote: »

Honestly, the 'group think' here is like something out of a Monty Python film

You can simply put your £12k in one type of account and get 3% interest, or you can go through a lot of nonsense trying to exploit current account special offers (each of which, when I've looked into them, has had conditions or fees) and which I think you have to question ethically to some extent

It sounds a stone's throw from some kind of coupon scheme ... Banks are trying to tempt new customers with artificial rates on small parts of their savings ... They don't set all these conditions up so you'll open a dozen different current accounts and siphon money between them - and frequently they'll try and clamp down on it

I also think you'll learn at some point it's good to have banks on your side sometimes

It's less of an issue if you're investing longer-term, because RateSetter with give you 6.9% quite happily ... The reason I'm recommending it now is because people here convinced me FundingCircle was too difficult ... RateSetter has a large fund to cover bad debts, so you shouldn't ever be taxed on money you don't receive

Which account gives you 3% interest . Don't think I could be bothered with a load of hassle

harvey1964

Fruit_and_Nut_Case wrote: »

Post telling you that you're mad to borrow £12k to pay for your wedding in 5-4-3-2-1...

Oops forgot to,say that dad is paying for the loan ....... 😀😀