Looking for a no-frills current account

Mr_Dangermouse

I just finished uni and am starting a graduate job. I have the RBS student account that will become a graduate account and am very happy keeping that account. Having said that, with me now having a much healthier budget than I had at uni, I am very wary of having the debit card on my person.

The idea I've had is to keep having my salary paid into this RBS account and use it to pay all of my direct debits (rent, bills, phone, gym, monthly tesco deliveries, Spotify etc)

Then set up a new current account and pay myself "pocket money" each week or each month and carry that card around on a daily basis using it to fund shopping trips or nights out.

Anyone know of a bank that will allow me to set up that second account?

YorkshireBoy

Any and all banks, including your existing bank*, will offer such an account. So just find the one that best suits your needs, ie in-credit interest, contactless cashback, etc...whilst taking into account any messing around with minimum monthly funding requirements (which you may not wish to do).


* Best not to keep all your eggs in one basket though, especially since RBSG have had more than their fair share of system issues in recent years!

xylophone

Would a Natwest Reward account suit you better re bills etc?

http://personal.natwest.com/personal/current-accounts/compare-current-accounts/reward-account.html

You might wish to look at a TSB Plus for your spending account (need to credit £500 a month and go paperless) or a Tesco Current account ( which requires no minimum pay in).

Anthorn

Mr_Dangermouse wrote: »

I just finished uni and am starting a graduate job. I have the RBS student account that will become a graduate account and am very happy keeping that account. Having said that, with me now having a much healthier budget than I had at uni, I am very wary of having the debit card on my person.

The idea I've had is to keep having my salary paid into this RBS account and use it to pay all of my direct debits (rent, bills, phone, gym, monthly tesco deliveries, Spotify etc)

Then set up a new current account and pay myself "pocket money" each week or each month and carry that card around on a daily basis using it to fund shopping trips or nights out.

Anyone know of a bank that will allow me to set up that second account?

As YorkshireBoy says, any and all banks. To do what you want to do just needs a standing order or payment and all banks allow that. For the no-frills approach, to stay in the RBS group Natwest Select, or further afield to Lloyds Classic, TSB Classic, Tesco Bank all with no credit and DD requirement.

Gentoo365

Just get any generic account with a different 'banking group'. My spare account is with Metro Bank as they have a branch near me with good opening hours so in the case of a lost card, or ATM system failure I can visit.

coffeehound

Mr_Dangermouse wrote: »

Then set up a new current account and pay myself "pocket money" each week or each month and carry that card around on a daily basis using it to fund shopping trips or nights out.

Another option is to use a prepaid card for entertainment spending. In the worst case that it is stolen, no more than the amount you have loaded it with can be withdrawn.

Mr_Dangermouse

Does anyone know of any of these account that:

-Has no minimum pay in or usage requirements
-Can be set up online
-Has paperless statements
-Has a debit card (contactless optional)
-Allows me to transfer instantly to and from RBS

YorkshireBoy

Are you saying you'd rather not have contactless, or you don't care whether it's contactless or not?

Mr_Dangermouse

YorkshireBoy wrote: »

Are you saying you'd rather not have contactless, or you don't care whether it's contactless or not?

I don't care

YorkshireBoy

Tesco, with the added benefit of 3% AER on your cash until you spend it.

EarthBoy

Mr_Dangermouse wrote: »

Does anyone know of any of these account that:

-Has no minimum pay in or usage requirements
-Can be set up online
-Has paperless statements
-Has a debit card (contactless optional)
-Allows me to transfer instantly to and from RBS

All banks provide this sort of account. Avoid any account marked reward, or plus, or club, and you should be fine.

Lloyds Classic account:
https://www.lloydsbank.com/current-accounts/classic-account.asp

Halifax Current account:
https://www.halifax.co.uk/bankaccounts/current-accounts/current-account/

TSB Classic account:
http://www.tsb.co.uk/current-accounts/classic-account/

Barclays Bank account (don't add any of the optional rewards):
http://www.barclays.co.uk/CurrentAccounts/BarclaysBankAccount/P1242557963758

NatWest Select account:
http://personal.natwest.com/personal/current-accounts/compare-current-accounts/select-account.html

RBS Select account:
http://personal.rbs.co.uk/personal/current-accounts/compare-current-accounts/select-account.html

Santander Everyday account:
http://www.santander.co.uk/uk/current-accounts/everyday-current-account

Nationwide FlexAccount (you won't get the free travel insurance unless you pay in £750 p/m, but you can still use the account without the insurance):
http://www.nationwide.co.uk/products/current-accounts/flexaccount/features-and-benefits-optimisation-test

Tesco:
http://www.tescobank.com/current-accounts/

Only HSBC has any conditions for their bog standard account, and that's to pay in £500 per month:
https://www.hsbc.co.uk/1/2/current-accounts/bank-account


There must be some others out there as well.