Am I missing any decent current accounts?

deeboy1

I currently have the following and was wondering if there are any obvious and accessible other options I might be missing to maximise interest rates?

I'm already running all the regular savers I can afford and joint accounts isn't an option.

Thanks for any advice!

deeboy

Santander 1-2-3
£20k balance 3% less fee

Nationwide Flex Direct
£2.5k balance 5%

Nationwide Flex
min balance for free travel insurance

Halifax Reward
min balance interest @ £5/month

2 x TSB Current Accounts
£2k balance 5%

Club Lloyds
£5k balance 4%

Yorkshire Current Account
£5k balance 2%

3 x BoS Vantage Accounts
£5k balance 3%

2 x Tesco Current Accounts
£3k balance 3%

YorkshireBoy

You're wasting £2K at YB, since they only pay interest on £3K.

It would seem your only option - if you want to keep so much in cash - is to drip feed (further) regular savers from the 2% and 3% accounts. Which regular savers do you currently have?

deeboy1

Oh thanks for that Yorkshireboy I hadn't realised that YB was only up to 3k. I'll move the 2k into one of my instant access accounts better than nothing!

Regular savers I have are:

HSBC Advance £250 6%
Nationwide £500 5%
Nationwide £1000 2%
Club Lloyds £400 5%
TSB £250 2%

I'm aware the 2%s aren't exactly top rates, although I'm not particularly keen to open yet more current accounts just to access the regular savers - I know I could but at this point I start to question the effort v reward. And I can't afford any new ones right now. That said if you can think of anything that's low hassle I'm all ears. Cheers for the advice mate.

deeboy

YorkshireBoy

M&S would get you another few quid by drip-feeding their regular saver. Probably not worth it on it's own, but combined with a switching incentive?...

But if you haven't previously done them, there's a lot of cash to be had from switching incentives...maybe £800 or so? That should pass your effort v reward criteria.

colsten

deeboy1 wrote: »

Nationwide Flex
min balance for free travel insurance

Halifax Reward
min balance interest @ £5/month
£5k balance 2%

neither have a min balance requirement

deeboy1 wrote: »

Regular savers I have are:

HSBC Advance £250 6%
Nationwide £500 5%
Nationwide £1000 2%
Club Lloyds £400 5%
TSB £250 2%

FD 6% is missing, in addition to the M&S already mentioned. Depending on where you live, there could be other RS accounts, available in Branch only. Check the Regular Savers Accounts thread.

deeboy1

Thanks Yorkshire.

I did the M&S switch and unfortunately no longer have the account for the regular saver. I've also previously switched to YB (only twice, I know that's a poor show compared with you), First Direct, Halifax, TSB, Co-op, Smile, Nationwide etc. and am already a HSBC current account holder. So I think I'm all out of switch opportunities.

But thanks for coming back and confirming I'm not missing out on anything obvious For now, I'll get moving the excess 2k out of YB!

cheers

deeboy

YorkshireBoy

colsten wrote: »

neither have a min balance requirement

I took "min" to mean minimal, as in £1 (as many of us do).

Dan83

Is - of your TSB accounts a joint account? Or are we aloud 2?

deeboy1

Dan83 wrote: »

Is - of your TSB accounts a joint account? Or are we aloud 2?

I was allowed two when I opened them Dan. I just went to their website and see they got meaner lately. One sole now although they'll let you have a joint too.

deeboy

Eco_Miser

deeboy1 wrote: »

TSB £250 2%

My TSB monthly saver pays 5%. Is this a different one, or a typo?

deeboy1

Eco_Miser wrote: »

My TSB monthly saver pays 5%. Is this a different one, or a typo?

Sorry yes it's a typo - mine too (phew!)