Money sitting in current account with nowhere to put it

hubb

 I have a substantial amount of inherited money in my current account but nowhere to put it that offer a decent rate, or one that is worth the effort of setting yet another account up (passwords/security etc) I already have a Santanda 123 lite account (previously a savings but I changed it when the rates dropped) which I only earn cashback on bills paid. I do have a Natwest current account too which would qualify me for their linked savings account at 3.04% but that could drop, and you can only put up to £50 a month in which is useless, again not worth the bother. I have 3 years left on my mortgage on a low interest rate I could pay off but then I would lose our £50k life insurance for my wife and I. It's a real conundrum. 

Wheres_My_Cashback

If you can't be bothered to do 5 mins work, because lets face it, that's all it takes to set up many online savings accounts then leave it where it is.
As for what you call a decent rate, that's subjective. All that's relevant is what the rate is now, not 6 months ago or 3 years ago.

Another_Saver

Depends how much we're talking about and on your wider financial situation. You could put £50k into premium bonds?

hubb

Wheres_My_Cashback said:

If you can't be bothered to do 5 mins works, because lets face it, that's all it takes to set up many online savings accounts then leave it where it is.
As for what you call a decent rate, that's subjective. All that's relevant is what the rate is now, not 6 months ago or 3 years ago.

Its more the fact that it isn't going to be worth it as rates are dropping and I will have the task of yet more passwords and figures to remember. I still have the Marcus account I set up 3 years ago but never put any money into it as I didn't want to move it from my Santander (I read posts here comparing the two as negligible difference)

hubb

Another_Saver said:

Depends how much we're talking about and on your wider financial situation. You could put £50k into premium bonds?

I only have about half that figure.

SFindlay

hubb said:

Wheres_My_Cashback said:

If you can't be bothered to do 5 mins works, because lets face it, that's all it takes to set up many online savings accounts then leave it where it is.
As for what you call a decent rate, that's subjective. All that's relevant is what the rate is now, not 6 months ago or 3 years ago.

Its more the fact that it isn't going to be worth it as rates are dropping and I will have the task of yet more passwords and figures to remember. I still have the Marcus account I set up 3 years ago but never put any money into it as I didn't want to move it from my Santander (I read posts here comparing the two as negligible difference)

I'm confused, what exactly is the point of your post????
You've basically just created a post to tell us you can't be bothered setting up a new account to transfer money into so frankly who cares!!! 

[Deleted User]

hubb said:

Wheres_My_Cashback said:

If you can't be bothered to do 5 mins works, because lets face it, that's all it takes to set up many online savings accounts then leave it where it is.
As for what you call a decent rate, that's subjective. All that's relevant is what the rate is now, not 6 months ago or 3 years ago.

Its more the fact that it isn't going to be worth it as rates are dropping and I will have the task of yet more passwords and figures to remember. 

If rates are dropping, then that would make it well worth doing sooner rather than later.

And you could make a note of the new password in a secure file.

YorkshireBoy

hubb said:

Another_Saver said:

Depends how much we're talking about and on your wider financial situation. You could put £50k into premium bonds?

I only have about half that figure.

If Marcus is linked to the current account containing the £25K you could have it deposited within seconds...and be earning £10/mth more than you presumably are now.

grumiofoundation

hubb said:

Another_Saver said:

Depends how much we're talking about and on your wider financial situation. You could put £50k into premium bonds?

I only have about half that figure.

So 25k in premium bonds...

Robin9

I f you've got no money at all £25k is significant.  Whatever you do you are not going to rich (other than the Lottery or PB) . Look at the MSE guides. and use Regular Savers 

• Top 'bank-linked' rates
  • NatWest – 3.04%
  • RBS – 3.04%

• Top open-to-all accounts, incl
  • Coventry BS – 1.55%
• Top local accounts, incl
  • Swansea BS – 2.02%

but if that's too much trouble.
We've just been spending on the house future proofing it a little

hubb

YorkshireBoy said:

hubb said:

Another_Saver said:

Depends how much we're talking about and on your wider financial situation. You could put £50k into premium bonds?

I only have about half that figure.

If Marcus is linked to the current account containing the £25K you could have it deposited within seconds...and be earning £10/mth more than you presumably are now.

Thanks, I will do that for now at least.