Bank Account savings / Mature

Mimi_Arc_en_ciel

Hi all,
Its been a while since I have posted here. I hope you are all ok
I wondered if you could help me, My accounts are coming up to matority and I need to shift these.

So far I have:

First Direct Regular Savers @ 5% - Balance £3200.00 – matures mid Sept

Nationwide Current account @ 5% - Balance £2500.00 – Matures End Oct
Nationwide Regular Savers @ 350.00 – Matures End Oct



I have x2 TSB accounts (currently empty as I moved the money into FD when the rate dropped) I also have x1 Tesco account which I’ve been using for grocery payments but currently has no DD set up (although earning interest so no idea whats happened there)

My plan is:

Move £1000.00 and split it into my 2 TSB accounts (£500 in each account @ 3%)
Move £3000 into Tesco (3%) – Open up another Tesco account (MSE says you can have 2) and put the remaining £2050 into that account.
Does that sound like a good plan? are there any other accounts I'm not aware of?

Thanks

Eco_Miser

Mimi_Arc_en_ciel wrote: »

I have x2 TSB accounts (currently empty as I moved the money into FD when the rate dropped) I also have x1 Tesco account which I’ve been using for grocery payments but currently has no DD set up (although earning interest so no idea whats happened there)

Did you have the account before they changed the rules? If so, you are still on the old rules. Any new account won't be.

Mimi_Arc_en_ciel wrote: »

My plan is: Move £1000.00 and split it into my 2 TSB accounts (£500 in each account @ 3%)

Why not £1500 in each?

Mimi_Arc_en_ciel wrote: »

Move £3000 into Tesco (3%) – Open up another Tesco account (MSE says you can have 2) and put the remaining £2050 into that account. Does that sound like a good plan? are there any other accounts I'm not aware of?

Bank of Scotland and Club Lloyds, each paying 2%.
Numerous Regular Saver accounts paying over 2%.

typistretired

The rules for a new Tesco current account have changed.

"If you applied for your account after 1 April 2017:
We guarantee you’ll earn 3% AER credit interest on balances up to £3,000 until 1 April 2019.
In order to benefit from this, you must pay in at least £750 and have at least three direct debits paid from your account per statement month (excluding direct debits to a Tesco Bank savings account). "

Mimi_Arc_en_ciel

Eco_Miser wrote: »

Did you have the account before they changed the rules? If so, you are still on the old rules. Any new account won't be.Why not £1500 in each?
Bank of Scotland and Club Lloyds, each paying 2%.
Numerous Regular Saver accounts paying over 2%.

typistretired wrote: »

The rules for a new Tesco current account have changed.

"If you applied for your account after 1 April 2017:
We guarantee you’ll earn 3% AER credit interest on balances up to £3,000 until 1 April 2019.
In order to benefit from this, you must pay in at least £750 and have at least three direct debits paid from your account per statement month (excluding direct debits to a Tesco Bank savings account). "

I am such an idiot, for some reason I thought the limit had dropped to £500


So new plan. Move all monies into TSB x2 and Tesco x1 - Open up another account and siphen off interest into that account


I can sort DD's etc to hit their terms.


Thanks!