Various savings accounts

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
2 replies 626 views
Bazooka_joeBazooka_joe Forumite
8 Posts
First Post
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Sorry if this is a duplicate post but I am new here and the site keeps crashing on me. I am a regular saver and maxing out at £85k savings threshold based on the FCS. Is there an alternative to opening up different accounts with various banks and building societies. I do need savings to be instantly available.


  • BoGoFBoGoF Forumite
    6.3K Posts
    Part of the Furniture 1,000 Posts
    NS & I give full protection I believe.

    Other than that you need to spread your money.
  • edited 29 August 2019 at 11:33AM
    eskbankereskbanker Forumite
    18.7K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 29 August 2019 at 11:33AM
    The alternative is NS&I, whose products are protected directly by the Treasury, rather than requiring FSCS coverage.

    Their Income Bonds pay 1.15%, so not as competitive as spreading your money over multiple better-paying products, but that's the price you'd pay for the convenience of not having to do so:

    Probably also worth considering if you really need more than £85K worth of cash all to be instantly accessible, as this would be pretty unusual....

    Edit: seeing the reference to various savings accounts in your title, do you mean that you have multiple accounts, each approaching £85K, or collectively doing so? If the latter, you do realise that the FSCS coverage is £85K per institution?
This discussion has been closed.
Latest MSE News and Guides

Card providers to reserve up to £100

When you pay at supermarket fuel pumps

MSE News

Cheap contents insurance for tenants

DON'T assume your landlord covers you

MSE Guides

Summer sizzlers round-up

Incl £2ish sun cream & £1.50 disposable BBQs

MSE Deals