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Bank Account Strategies
Zola.
Posts: 2,204 Forumite
Typically my wife and I use our main joint account (Santander 123) as the 'all in one' account. e.g. our pay goes into it, all the bills come out of it.... and its our savings account... not sure if ideal.
We have a couple of everyday accounts for personal spends, and we have one main 'Mortgage Overpayment' Account, where we have a standing order from our joint account of a few hundred quid each month into the overpayment account each month....we then empty it when we build it over £1000 for overpaying. The rate is a pitiful 0.25% however.
I would like to have another account for all things car related (bills, insurance etc), that we contribute to each month, just so that when the time comes the money is sitting there in that account.
Are there are reasonable bank accounts about where the rate doesn't involve a lot of direct debit hassle to get in any way a decent % ?
If not, should I just keep everything in the joint?
How do you manage these things?
We have a couple of everyday accounts for personal spends, and we have one main 'Mortgage Overpayment' Account, where we have a standing order from our joint account of a few hundred quid each month into the overpayment account each month....we then empty it when we build it over £1000 for overpaying. The rate is a pitiful 0.25% however.
I would like to have another account for all things car related (bills, insurance etc), that we contribute to each month, just so that when the time comes the money is sitting there in that account.
Are there are reasonable bank accounts about where the rate doesn't involve a lot of direct debit hassle to get in any way a decent % ?
If not, should I just keep everything in the joint?
How do you manage these things?
0
Comments
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Have you looked at the MSE page? I have inserted a link below.
https://www.moneysavingexpert.com/banking/compare-best-bank-accounts0
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