Multiple Accounts - when to consolidate?

Sea_Shell

I think we'll probably ditch the TSB Reg Savers when they Mature (early May) as the new accounts are only offering 2%. Will probably stick the maturity amounts into our S&S ISA's and hope they are not "topped out" in the current market!!

So that'll be 2 less to worry about.

Will review each RS on it's merits as they mature, which we've got spaced out throughout the year, as most of those have reduced their rates for new accounts.

Sea_Shell

Also Good News to get an e-mail from Tesco that they are guaranteeing their 3% interest until April 2019.

So that's £12,000 sorted for 2 years. (unless another better offer comes along!!)

Have they re-opened this account for new customers yet, out of interest? Was going to recommend them to a friend...

Ken68

Doubt if they will be at 3% if they do re-open. Chance for Tesco to level off.
Am fairly serious about consolidating finances by next April, so looks like no to HSBC 3% R/S and no to renewing Santander Regular Saver (due early May) at the new 5%. Could then dump 123 and feed existing savings plans from the three B.o.S. current accounts.
It hurts but got to stop sometime.

badger09

Sea_Shell wrote: »

Have they re-opened this account for new customers yet, out of interest? Was going to recommend them to a friend...

Not yet (as at 18.30 Sat 1 April)

Sea_Shell

Just seen the news about Tesco. Hoops to jump through for new accounts now!

Sea_Shell

Well, that's 2 x N'Wide Reg savers matured, and new ones opened. Maturity money hived off to our S&S ISA's. So all still equal on the number of accounts front.

Ah, but, as we haven't yet closed the 'maturity' savings accounts with N'Wide....we are actually 2 accounts up!!!!

That reminds me....I've got a couple of old, but still open with 0 balance, accounts with Halifax too.:rotfl:

xylophone

that all seems a bit mute doesn't it.

Struck dumb?:)

Sea_Shell

Ah, should have put MOOT!!

wiseonesomeofthetime

Shakin_Steve wrote: »

After reading the sage advice on here, I opened two Tesco accounts, paying about £7.50 each month in interest. I was somewhat deflated when I popped into a coffee shop with my wife and realised we had just blown a whole months interest on two coffees.

With you there fella!

Try to make my meagre sums work as hard as they can in several accounts and then go and blow large portion each month on lunch out.

Wonder why I bother sometimes.

Surely there are many more that must do the same each day.

Is it all worth it?

Sea_Shell

I guess though, you could just see it as a "free lunch"!!

What's the old saying...."look after the pennies, and the pounds look after themselves"