Bank juggling, best way to earn interest?

TheShape

cracker_jack wrote: »

I actually invested in a Stock and Shares ISA a few years ago and after a year it was less than what I originally put in so I won't be touching those ever again.

But what is it (would it be) worth now? Stocks and Shares are a long-term investment so their value within a year of investment should be of little concern.

The best thing to do with high(er) interest current accounts and regular savers would be to concentrate on the highest paying accounts first and preferably take advantage of the odd switching incentive along the way. By doing that you can get the best return possible as soon as possible.

The FlexDirect/Flexclusive regular saver combo at Nationwide is a great place to start especially if you can get a £100 switching incentive by being referred to them. The First Direct regular saver account is also an excellent account to get early on with a potential £100 available for switching an account to them.

cracker_jack

EachPenny wrote: »

It is only as complicated as you want to make it. You can start with up to £20k at 1.5% (give or take) with one Santander 123 account. Two different accounts and a couple of standing orders can give you more.

About a dozen current accounts and maybe 18 regular savers and you're probably reaching the limit of benefits compared to just putting anything else you have into top end 'conventional' savings accounts. Done efficiently, running 30 or so accounts should take no more time day-to-day than running just a few.

I'll certainly look into it more, I'm guessing once I get the knack of it, it can be quite rewarding. Got to be better than the peanuts I'm currently earning.