Bank or Building Society

RABC

Got £20,000 , any idea which building society would be the best to put it in, need access to it to make withdrawls over the coming years. Cheers

agrinnall

Wouldn't it be useful if MSE had a whole page full of information on Saving and Banking that people could look at instead of asking on a forum?

http://www.moneysavingexpert.com/banking/

RABC

Had a read through that,still none the wiser, alreay got an account with the nat west where my wages get paid into but unsure as to whether leaving it in there, all I was wanting was a suggestion of building society to put the money in where I may gain a little interest but be able to withdraw money easily .(not used to having money as you will have realised) Many Thanks

colsten

Which ones of the accounts listed in the linked article have you discarded for what reason?

YorkshireBoy

RABC wrote: »

Had a read through that,still none the wiser, alreay got an account with the nat west where my wages get paid into but unsure as to whether leaving it in there, all I was wanting was a suggestion of building society to put the money in where I may gain a little interest but be able to withdraw money easily .(not used to having money as you will have realised) Many Thanks

Why aren't you any the wiser having read ALL the articles in that link?
Do you want online access with your building society savings account?
Is there a building society within a short walk of your NatWest branch?
What interest rates are they paying on their savings accounts?

mgdavid

OP, you followed up on that link in post #2 yes?
Which part of this heading leaves you 'none the wiser'?

"In a world of rock-bottom interest rates, you need to make sure you put your money into the right type of savings account with the best possible rate. Yet there are several different types, and bizarrely, the best savings rates are now on current accounts. This guide will take you through the maze to find the most profitable home for your cash – and keep it safe."

How much effort are you willing to make to maximise your interest from your £20k? You could put it in one place and earn a bit, you could open several accounts and earn quite a bit more...

Kernel_Sanders

As OP doesn't seem to have the time or maybe the inclination to maximize returns, I'd just say stick it in Santander and transfer household DDs there too.

Archi_Bald

Kernel_Sanders wrote: »

As OP doesn't seem to have the time or maybe the inclination to maximize returns, I'd just say stick it in Santander and transfer household DDs there too.

That is pretty dreadful advice as Santander will be one of the worst interest payers about!

Kernel_Sanders

Archi_Bald wrote: »

That is pretty dreadful advice as Santander will be one of the worst interest payers about!

You need to read #3 again. I don't think he's up to the complexities of funding multiple accounts each month, do you? Even if he had no cashback at all next year, the interest still equates to 2.7% on the sum he has. What single account pays anywhere near that for instant access on £20,000?