New bank account

Tonylfc

Hi I'm after a new bank account which has rewards and stuff. I'm currently with Santander.

Have been looking at nationswide flexplus and Halifax ultimate rewards, but I don't really need breakdown cover or travel insurance though.

What can you recommend?

grumbler

Halifax Rewards

eskbanker

I can recommend you read the quick link above labelled 'Bank accounts with benefits' and see what matches your specific expectations most closely!

Tonylfc

Nationswide and Halifax but asking which people would recommend more?

NectarCollector

depends on how much you plan to keep in the account and what your bills are if you pay by DD (which you should)

grumbler

Tonylfc wrote: »

Nationswide and Halifax but asking which people would recommend more?

In this case you have to make a poll , but the result will mean nothing to your as what is best for one person isn't best for other.

For your personal needs you can easily compare NW and Halifax and make a decision. It's not a rocket science.
IMO, NW is no goof for you unless you are paying more than £10 for your mobile insurance, really need it and can't find anything cheaper.
Similarly, I don't understand why you even consider Halifax Ultimate Rewards with (effectively) £15 monthly fee if you need neither breakdown cover, nor travel insurance.

Decor58

If you have £2.5k in the Nationwide account you get just over £6 a month interest, essentially making it less than £4 a month for travel insurance, mobile insurance, breakdown cover, extended warranty cover and more besides.

That is assuming you don't go over your personal saving allowance, though if you do that still makes it £5 a month for all the perks. That said, if you don't need any of the perks then don't bother with it. No need to pay for stuff you're not going to use.

bigadaj

Not clear what benefits the OP actually wants and needs. Might be best opening a lloyds account for the free cinema tickets, that is a potentially useful freebie.

grumbler

Decor58 wrote: »

If you have £2.5k in the Nationwide account you get just over £6 a month interest, essentially making it less than £4 a month for travel insurance, mobile insurance, breakdown cover, extended warranty cover and more besides.

No, it's "essentially less than £4" only if you have exhausted all other options for 3%-6%.
If 5% is available somewhere, e.g. with FlexDirect, it's "essentially" more than £14.
Even if you exhausted all 3%-6% options, it's "essentially less than £8" if there is 2% available somewhere.

And this is ignoring that the OP doesn't need "travel insurance, ..., breakdown cover".

Tonylfc

Thanks for the replies

I'd only need the mobile insurance really. I'm paying £15 a month at the moment. I know I can get it cheaper elsewhere.

I have no savings in the account. I will have over a grand going in monthly, and have 4 DD.

pmduk

Frankly you're being being lazy - no offence meant - but only you know your circumstances. What do you want from an account? , what can you pay in? do your own research, then the members of this forum can give you some constructive advice. Best of luck.