As a student, what do I do with an unexpected inheritance?

Eco_Miser

colsten wrote: »

I presume the very last thing you should do with your money is putting it somewhere that one or more anonymous posters on MSE suggest you should put it into.

I wouldn't go that far, otherwise we're all wasting out time giving suggestions that nobody should take any notice of, or worse,
that they should actively avoid " the very last thing you should do with your money..."

However it is true that the OP, and every other reader, should decide for themselves whether any of the suggestions proffered are right for them, and which, if any, to follow; after researching all the relevant the Terms & Conditions for themselves.

Lingua

Pincher wrote: »

I think you are underestimating the power of the student card. They wouldn't demand all these things for a STUDENT account.

He already has one student account. Santander and NatWest are the only two that allow other student accounts in their T&Cs. As an aside, that does allow you to get up to £3k student overdraft between both institutions, but HSBC's overdraft matches that anyhow (not sure how many get it mind.

Still, normal bank accounts are entirely feasible (and most don't require a brilliant credit score if you specifically ask for no planned overdraft feature).

Eco_Miser

TJ11 wrote: »

The Santander 123 looks like a good option too, although I do have their student 123 so would that be a problem?

I have nothing coming in or out of my account each month, just the the three-times a year instalments of student finance and payments of rent and utilities that follow.

I believe the standard Santander 123 is not available to students, even if they can fulfill all the conditions. Pity, since Santander don't require monthly DDs, three times (or even once) a year is sufficient.

A full list of Current and Regular Savings accounts paying over 3% is here, note that banks offering regular saver accounts require you to have their current account too. Many Building Societies don't. List here

TJ11

Thanks so much for all of your help, I think I will probably set up some high interest current accounts and shift it between them as this seems to be the best way of gaining some interest without risk, then feed some of it into savings and the HTB