No frills current account

Rummikub

Thanks Colsten. I should have explained that we have had a joint Santander 1/2/3 account from its inception and have banked the max £20k, so the interest gained has far exceeded the annual account cost and will continue to do so. I get gross interest but my husband's portion is taxed at 20%. However he will benefit from the new tax free interest allowance from April. I have opened my own account simply to achieve the same ends. Effectively, they will be like two cash ISAs but, at 3%, offering a much better return than current paltry ISA interest rates. We just want another account to bounce £500 in and out. In the end there's a wide choice out there. As you say, opening another free Santander account in my husband's sole name might do the trick. I will check with Santander. Appreciated your thoughts.

colsten

With not much effort, you can find current accounts that pay 3, 4 and 5% without costing any monthly fee and which take at least £30K per person, plus you can put extra money into join accounts.

You can also drip-feed Regular Savings accounts and achieve over 4% AER across the entire amount. All without £120 a year being taken off your net interest.

https://forums.moneysavingexpert.com/discussion/5374614