Moving accounts - advice

Stavros_3

As I have mentioned before I am currently with the Leeds BS and will be moving funds into Sainsburys end of Sept when the interest is paid. Should I leave some cash in the Leeds in case of takeover or shut the whole account down?, advice most welcome ta

LittleVoice

General view is that you might as well leave £100 in Leeds for the reason you suggest.

It's a gamble - your stake is the difference in the amount of interest you receive with Leeds and what you could gain elsewhere. I guess this could be around £6.50 (if you don't pay tax on savings - I haven't looked at your other posts to see whether this might be the case).

Do your own calculation and decide whether it is worth the punt.

bristolleedsfan

Stavros wrote: »

As I have mentioned before I am currently with the Leeds BS and will be moving funds into Sainsburys end of Sept when the interest is paid. Should I leave some cash in the Leeds in case of takeover or shut the whole account down?, advice most welcome ta

if u leave 100.00 in leeds online saver you will be gambling 0.70p a year gross against what that 100.00 will earn in sainsburys account.;)

leeds are launching a new postal account, if u transfer the 100.00 into that your gamble will be 0.45p a year gross.:rotfl:

LittleVoice

It's good to see that Leeds do offer a reasonably decent rate on £100.

bristolleedsfan

LittleVoice wrote: »

It's good to see that Leeds do offer a reasonably decent rate on £100.

most online savers offer same sort of rate on 100.00, 5.55% gross is at the lower end, even nationwide pay 5.8% gross on its e-saver :eek:

http://www.moneyfacts.co.uk/savings/bestbuys/internet-savings-accounts.aspx

http://www.moneyfacts.co.uk/savings/bestbuys/instant-access-savings-accounts.aspx