Complex ways to earn more interest

YorkshireBoy

123mat123 wrote: »

So you need to set up a dummy account with one bank then transfer it to FD for the bonus - seems a lot of work, is there a better way

One account = a lot of work?

Give over. As I said in post #5, you only ever have one account more than you have now (OK then 2 more for the 7-10 day switch period). Hardly onerous, especially when a great many of the offers don't (or didn't) need DDs.

And as someone else said above, if you do finish up with a dozen or so idle accounts, then along comes Santander and gives you (a couple) £1000+ of amazon vouchers. That's Xmas sorted no matter how big your family!

Zanderman

Zanderman wrote: »

You don't need your salary going to TSB to trigger the 3%, you just need 500 going in each month. You can automate that, taking it out again too (obviously) but if you're worried something might go wrong with automation then just do it manually. Login to another account, with TSB set up as a payee, move 500 to TSB. Than, 10 minutes later, login to TSB and move it back. Easy, and you know it hasn't gone wrong as you did it manually.

colsten wrote: »

Way too complicated :cool:
If you have held several TSB accounts for years, like the OP says he has, all you need to do is set up SOs between those accounts. Say he and his wife have a sole account each (A and and one joint one (C), each loaded with between £500 and £1,500. So you set up 3 SOs, A -> B, B-> C, and C-> A, for £500 each. You might want to log in once a month to cream off the interest but otherwise this takes care of itself..

YorkshireBoy wrote: »

Way too complicated.

£500.00 A-->B
£503.70 B-->C
£507.40 C-->A
£11.10 A-->somewhere else paying interest.

All done by SOs. Don't worry about the pennies under or over £1,500 in each account.

Too complicated? The OP seemed to be worried automation could go wrong if funds were delayed etc. And only mentions wanting to earn interest on one TSB account.

So I suggested manual transfer to remove that automation worry. Only one account needs the money put in.

So, keeping it simple and free of automation the simplest, least complicated, thing to do is what I suggested - a manual transfer in, and out, once a month.

Surely that's simple enough?