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Large sum saving.
Aveleydave
Posts: 28 Forumite
Having read the article on this site about savings, the word is to use the higher interest current accounts. Is there a problem with spreading a large sum across multiple accounts in one persons name? Can I open, say, five or more accounts at a branch of Nationwide and use those?
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Comments
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They probably won't let you. Usually its one sole and one joint account for the ones paying interestI’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
Thanks for the quick response. So, as a married person, I could have three maximum. Two sole with my partner and a joint?0
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The current account ship has sailed, you're down to Nationwide (£2,500) and TSB (£1,500), not what I would call a large sum0
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It depends what you call a large sum and how much initial preparation and ongoing management you're willing to do.
https://www.bankaccountsavings.co.uk/'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0 -
Thank you John, I see what you mean with that guide.0
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