Moved to NI - Confused By Savings Accounts

Ami-Rose

Hi everyone,

I've just moved to Belfast from SW England and I'm looking to move my savings account (currently a terrible HSBC account earning 0.5% IF I don't make a withdrawal that month and they're even cutting that come October). I'd be willing to move my current account if that's going to get me a better interest rate.

The problem I'm running into is that a lot of the accounts I find (such as the Tesco CA that I wanted) won't accept NI addresses which is really frustrating. I can get their online-only saver, but I'm wondering if there's something better out there before I commit now.

A little background:
- Just moved in with partner...kindof! We're currently staying with family friends of his while they finalise the purchase of the house we'll be renting from them. It's a little complicated! Hoping to be moved in within the next month.
- Currently have ~£2k in savings
- Planning to save £1-200/month once we're settled and are sure the budget can afford it
- The account will be in my name only and I only have a small income so if I went for a current account it would need to be a low monthly pay-in

Normally I'm pretty good with this stuff, but I think I'm getting a little overwhelmed by all the different things I need to register/sort etc. Plus I've recently been diagnosed with a health issue that's taking some adjustment, so my focus is a little split at the moment.

I'd appreciate any and all help people could offer. I can't apply until we get into the new house but I want to be ready to go so I can ditch HSBC before they cut the rate!

Thanks in advance!

In_For_A_Penny_2

Welcome to N.Ireland! I moved here from SE and had similar issues. For most things online banking is perfectly sufficient.

I have Lloyds and TSB online for savings.

For high street banks Santander is probably your best option.

There is a N.Ireland specific board on MSE you may find useful

Eco_Miser

Ami-Rose wrote: »

- The account will be in my name only and I only have a small income so if I went for a current account it would need to be a low monthly pay-in

No it doesn't.
To take an extreme example, you could meet Lloyds Club requirement of £1500 by withdrawing and paying in £50 every day (a little more in February).
Since you already have ~£2000, there's no problem moving the requirement in one go.
Works best if you have two accounts, eg Lloyds and TSB.