Quick Current Account Question 5K

wastedtalent

I'm just checking it's as simple as it sounds.

If I have 5k cash I can just open a TSB account with 2k and a BOS account with 3k and set a standing order each way on the same day each month to bounce 1k over.

I'd get the 5% and 3% respectively?

My First Direct regular saver matures this month, so I'll open a new one for new money but not sure what to do with the matured cash [plus a bit I had on one side hence the 5k].

I don't want to switch my actual CA from First Direct.

badger09

wastedtalent wrote: »

I'm just checking it's as simple as it sounds.

If I have 5k cash I can just open a TSB account with 2k and a BOS account with 3k and set a standing order each way on the same day each month to bounce 1k over.

I'd get the 5% and 3% respectively?

My First Direct regular saver matures this month, so I'll open a new one for new money but not sure what to do with the matured cash [plus a bit I had on one side hence the 5k].

I don't want to switch my actual CA from First Direct.

There are other T&C you need to meet with the *TSB Classic Plus account, but other than that, yes, its basically that simple.

If you have a 'spare' current account, or can acquire one fairly quickly, you could use the TSB switching offer and bag a bonus, but you'll have to be quick.

*There is also a linked regular saver

wastedtalent

Great stuff, thanks!! Don't think I can bag the bonus's without direct debits but I can live with that.

I've got some old current accounts with pennies in I can switch though, probably saves the hassle of closing them at some point in the future.

Eco_Miser

For exactly £5k, a Club Lloyds account will pay slightly more, at 4% on the lot, and £4k in Lloyds and £1k in TSB even more still.

colsten

wastedtalent wrote: »

Great stuff, thanks!! Don't think I can bag the bonus's without direct debits but I can live with that.

With a bit of reading on the forum, you will find several easy ways to create as many DDs as you need.