people still messing with loads of accounts?

joeblags

it feels nice and simple to me shutting them down, it was a fun hobby i guess but not any more.

BOS
nationwide
Tesco
first direct
YB

all shut and my credit history / score seemed to of improved aswell from it!

keeping an eye out for any banking switches will really be were any money is to be made

IvanDP

I am a recent newcomer to the bank switching/sign up game.
I don't have 20 odd accounts, but do keep a few for the incentives and bonuses offered.

I also don't have a huge amount of excess cash floating about, but with a little work, have made in excess of £1000 in the last 12 months.

So I would say that yes, it is worth "messing" with multiple accounts.

Roger.Wilco

have made in excess of £1000 in the last 12 months.

Would you care to enlighten us mere mortals?

veryintrigued

Can you rename the thread to 'I'm not doing this and therefore nor should you' please?

Zero_Sum

Roger.Wilco wrote: »

Would you care to enlighten us mere mortals?

If you chuck stoozing into the mix, I reckon I'm around that figure also.

Ballard

Most of my accounts have a minimal balance which I’m keeping open simply because I have no reason to close them. I’ve stopped bothering with new monthly savers now that the rates are low. I just don’t deem the reward worthwhile for those at the moment.

Perhaps I’m lazy but I didn’t even bother getting an interest free season ticket loan from work this year. The £2,400 cost equates to just under £21 interest for the year. Instead of paying the loan back each month I’m increasing my pension contribution so I won’t notice it on a monthly basis.

Rhino666

The sort of people that do this are demonstrating that they are prepared to spend time, hopefully enjoyable time making the best of their money. I would not be surprised to find that their cars are clean and serviced, they do not waste and they are solvent with no payday loans for example.

Others who would never bother with this and often deride those that do are more likely to take the easy/costly options and will get rid of their unserviced cars on webuyanycar.com, waste takeaway food, have a history of payday loans and worst of all look to the above people for financial support.
Modern life innit.

abz88

RG2015 wrote: »

I suspect that many people share your view to some extent as the banks keep reducing their interest rates on savings and fringe benefits.

However, there are still some that in my opinion are worth having.

TSB 3% on balances up to £1,500.

HSBC for the 5% regular saver which I just got before it was reduced to 2.75% although that is still good.

First Direct for the regular saver initially 5% and now 2.75%

Santander 123 Lite for the cashback and 3% regular saver (now down to 2.5%)

NatWest for monthly rewards and refund of Reward Credit Card fee of £24 (still gives 1% cashback on supermarket spend).

colsten wrote: »

Add to that M&S regular saver, now 2.75%

Coop £5.50/mth

Barclays Blue Reward at least £11 (only at least £4 for new ones, though)

Plus a large number of Regular Savers, paying anything from 2% to 3% AER.

With the new changes to NatWest/RBS rewards, it's also now worth having both an RBS Rewards and NatWest Rewards as they both pay out a separate reward for DD, accessing the App/Online Banking

Bobblehat

Roger.Wilco wrote: »

Would you care to enlighten us mere mortals?

Can't speak for IvanDP, but for me this year …...

9 x Regular Savers + Sant Lite net Cash Back + TSB interest + Barclay Dbl Blue Rewards + 2 x Switch Bonuses = £1000+

I'm not counting the interest from the feeder account for the RS's or the small interest from the DD generating Savings Accounts needed for some of the rewards or any other interest paying accounts I hold. Not too much work involved to get that £1000+, it mainly takes care of itself.

colsten

Roger.Wilco wrote: »

Would you care to enlighten us mere mortals?

Some people made more than £1,000 from a Santander switch offer alone - though they are almost certainly an exception. More commonly, people make use of various switch and/or referral offers. These have progressively got fewer in numbers but some are still around and ready to be used. Worth noting that you generally can only use these offers once, so it is not realistic to expect £1,000+ each year from such offers. For a switching/referral virgin, it is very doable, however. Please look in other threads/places for details on the offers.