Any advice for current account?

Zero_Sum

As above i have
Nationwide - £10
TSB - £6
Tesco x 2 - £15
Halifax x 2 - £4
Co - op - £5
Santander - £4 (but think i might have a plan to increase that quite a bit if it works)

The halifax ones, have had them for years when you got £5 so its just a case of might as well keep them & just put a few quid in to cover DD's. But if i didnt already have one, probably wouldnt bother with it.

SlovakianGuy

lovingtescoforever wrote: »

I have similar to the above.

Nationwide FlexDirect £10.38 per month x 3
TSB ClassicPlus £6.24 per month x 3
Tesco current account £7.31 per month x 2
Club Lloyd’s £6.24 per month x 2

Halifax doesn’t seem worth the effort for only £2 now.

Nationwide is by far the easier and most rewarding for the time being.

You can earn interest on 3x FlexDirect ???

Nationwide have told me I can have more accounts but only get the 5% interest on one!


Btw, Club Lloyds is not worth it in my opinion. You need to leave there 5k, just to receive 6 quids. That doesn't even offset the inflation rate. TSB is much better for that, because you only need 1.5k for the same 6 quids, but those 1.5k earn you more than the inflation eats off them.

YorkshireBoy

SlovakianGuy wrote: »

You can earn interest on 3x FlexDirect ???

When the poster said "I", they really meant "we"...as in there are two of them so the 3rd account is joint.

Nationwide have told me I can have more accounts but only get the 5% interest on one!

Correct, as per the T&Cs any subsequent FlexDirect accounts earn 1%.

Btw, Club Lloyds is not worth it in my opinion. You need to leave there 5k, just to receive 6 quids. That doesn't even offset the inflation rate. TSB is much better for that, because you only need 1.5k for the same 6 quids, but those 1.5k earn you more than the inflation eats off them.

"Not worth it"? You can hold the account, leave it largely empty, grab 6 free cinema tickets per year (or another Lifestyle Benefit), and gain access to a 2.5% regular saver. All you have to do is cycle £1,500 through the account each month. Maybe cross-fire using the TSB funds and kill two birds with one stone?

DCFC79

Persil43 wrote: »

Thank you for the information!

Change the record.

ET18

I have an appointment tomorrow to downgrade my santander current account but they said I would lose my regular saver if I go to everday current account.

Do you think it is wise to downgrade to lite 123 (i get 85p cashback, £1 fee) but get to keep the saver...

colsten

ET18 wrote: »

I have an appointment tomorrow to downgrade my santander current account but they said I would lose my regular saver if I go to everday current account.

Do you think it is wise to downgrade to lite 123 (i get 85p cashback, £1 fee) but get to keep the saver...

Can't you get a 5% Monthly Saver? FD, M&S, Nationwide.....most, if not all, of whom will also pay you to switch to them

eskbanker

colsten wrote: »

Can't you get a 5% Monthly Saver? FD, M&S, Nationwide.....most, if not all, of whom will also pay you to switch to them

From OP:

ET18 wrote: »

Other accounts I hold:
Nationwide Flex direct , a regular saver and a HTB ISA
First direct current account and regular saver
HSBC graduate account and a regular saver

Agreed that M&S isn't mentioned though!

YorkshireBoy

ET18 wrote: »

I have an appointment tomorrow to downgrade my santander current account but they said I would lose my regular saver if I go to everday current account.

Do you think it is wise to downgrade to lite 123 (i get 85p cashback, £1 fee) but get to keep the saver...

I'm not sure you'd lose it. Probably just see the interest rate cut? But I believe the T&Cs have been disected previously on here and a view taken that you only had to be a 123 customer to open the account at the higher rate.

However, 15p per month for however many months it has to run is a small price to pay for peace of mind.

tomthered

Tagging on to this post could I ask if I switch to HSBC for the £175 via this forum, would I just be able to pay in £1750 a month and then move it out again. Is there a requirement to have your wages paid in?


I ask because soon my Tesco account wont be paying much interest so I might as well switch it.


Thanks In advance

YorkshireBoy

tomthered wrote: »

Tagging on to this post could I ask if I switch to HSBC...

Wouldn't It have been better to tag it on to the thread immediately below this one, entitled "HSBC Current Account Switch?

Anyway, the answers to your questions are yes and no...in that order.

But a word of warning, if your net pay is less than £1750 per month you'll do well to get accepted for the Advance account.