I am new to banking - please help me figure out some basics. Anyone with club lloyds?

Kernel_Sanders

[Deleted User] wrote:

Club Lloyds is a viable option for you.
You've said that you earn over the £1,500 threshold so you can sustain the account for free rather than paying the £5 monthly charge.

This is poor advice. It implies you need to earn over the £1,500 threshold; you don't.
It's not a viable account for the OP because it's only 4% on the entire balance when that balance is between £4000 and £5000. It'd be far better to open a TSB CP a/c and a Nationwide Flex Direct, which pay 5% on the entire balance up to a total of £4500. Furthermore, up to £750 per month can be put into the regular savers, which are also 5%. No DDs are required.