Savings

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I have £15,000 which currently is sitting in the wrong bank earning absolutely no interest in several different accounts. I am self employed so do not earn the required monthly amount needed to be deposited into most new accounts. So do not qualify for them.
I would love to put it all into a good savings account, where I would leave it for as long as possible.
Does anyone know the best bank or on line bank for this?

Thank you

Comments

  • MyOnlyPost
    MyOnlyPost Posts: 1,562 Forumite
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    You don't need to earn, you only need to deposit. you could open 3 accounts for the best interest and put £5k in each and then once a month send £1k from a to b, £1k from b to c and £1k from c to a all from your current savings. If all done on the same day then your end of day balances never drop
    It may sometimes seem like I can't spell, I can, I just can't type
  • TheShape
    TheShape Posts: 1,781 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
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    You don't need to 'earn' the required paying-in amount for accounts. You already have the money available and can satisfy pay-in requirements by moving around the money you already have.

    Tesco Bank current accounts have no such requirement and allow 2 x £3k @ 3% interest.
  • xylophone
    xylophone Posts: 44,627 Forumite
    Name Dropper First Anniversary First Post
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    Consider a couple of Tesco current accounts which have no deposit requirement.

    Open a couple of their savings accounts which permit you to set up DDs from other current accounts

    Also open up to three BOS Vantage, noting the DD condition.

    These can be funded by internal SO from A to B to C and back on the same day.

    Move round the monthly interest on the above as required.
  • KALB
    Options
    Thank you all so much for your advice, will look into these accounts today. Very clever advice too! Never thought about 3 accounts and transferring to all of them! Nice one. :)
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