Bank accounts with interest

Mimi_Arc_en_ciel

Hi,


Just a quick Q. I have multiple accounts that are earning me interest on balances (TSB, Santander, Tesco etc)


Speaking to someone at Santander and she said this is pointless and I'd be better off putting all my money in a Santander account (1.5%)


To me, it sounds inaccurate. Surely, If TSB is 3% up to £1500 (and I have 2 accounts), Tesco is 3% up to £3k, surely I'm better splitting my money than putting it all in a 1.5% account...... ?


Thanks
Mimi

PeacefulWaters

Yup. Santander staff member talking rubbish.

Mimi_Arc_en_ciel

thought so just had a "best check!" moment in case I had missed something - thanks!

binaryuniverse

I do hope that person doesn't work as a financial adviser.

ValiantSon

What a load of twaddle. That staff member needs to go on a training course so that she can learn some basic arithmetic. It might come in useful working in a bank!

AndyPK

Clearly they work for the bank so push their own products. or maybe they didn't understand the concept of having 10 current accounts


Don't forget Bank of Scotland 2% on £5000 (2 DD required)

datlex

If you circulate just £200 a week (plus the money for the DDs where required)

You can get over £14 a month (break down below)

TSB= 3% on £1500 = £3.75 a month (may vary slightly)
Halifax Rewards= £3 a month
Coop= £4 a month.
Barclays=£7-3= £4 net a month.

Then of course you have the monthly savers which offer between 2 and 5%.

Mnd

We've just changed to santander light(for cashback) and we have
3 Halifax reward
3 tsb
2 tesco
3 club lloyds +2 regular saving
2 santander regular saving
1 Nat west (wife's housekeep account )
1 nationwide for holiday spending savings

So they are talking rubbish

YorkshireBoy

Mnd wrote: »

We've just changed to santander light(for cashback) and we have
3 Halifax reward
3 tsb
2 tesco
3 club lloyds +2 regular saving
2 santander regular saving
1 Nat west (wife's housekeep account )
1 nationwide for holiday spending savings

So they are talking rubbish

Have you considered 2 more 3% Tesco accounts (for £6K of the Lloyds cash)?