Getting More From My Current Account?

robertson70

I have unused current accounts with Halifax, HSBC, Royal Bank of Scotland, Nationwide and Santander 

At present I use a joint, with my wife, Bank of Scotland Vantage account for my main banking into which all my and my wife's pensions are paid.

We are both retired.

I try to keep the balance at around £5000 and any excess is transferred into a savings account.

For this I receive approx £3.20 interest per month.

I have DDs for my gas and electricity, TV, internet and council tax £425 in total, except Feb and March where there is no council tax, every month along with a approx £700 spend on a credit card, paid, IN FULL, every month.

Is there a current account that will be more "rewarding" than my present BoS current account?

eskbanker

You could pay your DDs out of a cashback account such as Santander's 123 Lite, and get rewards from the likes of Halifax (£5/month if keeping £5K in there):

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/#cashback

ZeroSum

To get the most out of current accounts you need to have more than 1

I have lloyds for the interest (which sounds the same as your BoS one)

Halifax to get a free fiver reward

Santander for cashback on DD bills

Chase for the cashback 

Co-op for cashback & rewards, although this one isn't as generous as it used to be so wouldn't bother with it if I didn't already have it

[Deleted User]

Check out:

1. Halifax Reward
2. Santander 123 Lite
3. RBS Reward Current + Reward (cashback) credit card (credit card fee is refunded if you have their reward current account)

Also:

• Nationwide will pay you £125 to switch in a spare current account too.
• Other switching offers come & go from Halifax, Santander and RBS.
• Your council may let you change from 10 to 12 monthly instalments next tax year