Is there a limit to the number of Current Accounts you should have?

colsten

Selective reading taking place again.

YorkshireBoy

joe_mcclaine wrote: »

Tried it and it was a ginormous faff for a few pennies ... certainly less than my time's worth.

Nineteen thousand seven hundred pennies a month here from my sole current accounts.

joe_mcclaine

YorkshireBoy wrote: »

Nineteen thousand seven hundred pennies a month here from my sole current accounts.

That's really smashing, treacle.

saver861

chris_m wrote: »

Can't you do that one by SO as well?

The Halifax reward does not pay interest on a balance so no point in keeping money in the account. The £750 could be done by so, but if you do it on the same day then there is the possibility the money has not gone in before the outgoing so kicks in. Even if I set the ingoing so for one day before the outgoing so, there is still weekend problems.

Then I'd end up getting letters from Halifax etc saying I don't have enough funds in the account etc etc. Hence, do it manually.

chris_m

saver861 wrote: »

The Halifax reward does not pay interest on a balance so no point in keeping money in the account. The £750 could be done by so, but if you do it on the same day then there is the possibility the money has not gone in before the outgoing so kicks in. Even if I set the ingoing so for one day before the outgoing so, there is still weekend problems.
Then I'd end up getting letters from Halifax etc saying I don't have enough funds in the account etc etc. Hence, do it manually.

Gotcha, that does make sense.

TheTracker

saver861 wrote: »

The Halifax reward does not pay interest on a balance so no point in keeping money in the account. The £750 could be done by so, but if you do it on the same day then there is the possibility the money has not gone in before the outgoing so kicks in. Even if I set the ingoing so for one day before the outgoing so, there is still weekend problems.

Then I'd end up getting letters from Halifax etc saying I don't have enough funds in the account etc etc. Hence, do it manually.

saver861, meet Wednesdays and 4 weekly schedules.

saver861

TheTracker wrote: »

saver861, meet Wednesdays and 4 weekly schedules.

Ah yes, so thats what the middle day of the week is called... shucks, all that time ....

but ..... even if I did it on Weds every 4 weeks, there is still no guarantee the outgoing so would be invoked after the incoming - other than involving that other day named Thursday!

bobobski

saver861 wrote: »

even if I did it on Weds every 4 weeks, there is still no guarantee the outgoing so would be invoked after the incoming - other than involving that other day named Thursday!

So why not have the SO in on Weds and out on Thurs? That's what I do with my TSB account and it's not caused any problems since I opened it 6 months ago (and my savings in there at the mo are less than the min monthly pay-in).

Due to little money and not many accounts this doesn't take me much time at the moment, but it will in the new year when various events take place and I'll be saving more per month. And I'm excited about it - even if I meet my target of £400 interest and it takes me the quoted 10-20 hours per month (har har), being not a good hourly pay, I find it exciting watching money grow out of money.

And I agree it's good that not everyone feels this way. Certainly my best friend doesn't and is throwing away hundreds of pounds of interest each year due to fervent attachment to his piece of cr*p ISA, but perhaps I should be thanking him for my regular savers and high interest current accounts?!