Cash for proceeds of house sale

johnboy13

Ive never had a lot of money before so from proceeds of a house sale, can I just have £65,000 in my normal natwest account for the time being and will it be safe from fraudsters.

[Deleted User]

You can probably do a lot better than a Natwest current account, but it's fine if that's what you want.

It'll be safe from fraudsters as long as you don't hand the money over to them.  Are you worried that you might?

Zanderman

Should be safe enough, but for the time being (however long that is) you could make it a little bit safer by opening a basic savings account with NatWest and transferring it to that.

Most bank fraud seem to affect current accounts - which have debit cards etc. A fraudster can't empty a savings account quite as easily.

Edi81

Of course it is. Is it safe from you being tempted to spend it?
what are your plans for the cash in the longer term?

johnboy13

Deleted_User said:

You can probably do a lot better than a Natwest current account, but it's fine if that's what you want.

It'll be safe from fraudsters as long as you don't hand the money over to them.  Are you worried that you might?

No I'm not that daft. It's just you here people getting other bank account details etc. I'm just gunna wait 12 months and then go buy again, there's nowt at the moment Cheers pal...

johnboy13

Edi81 said:

Of course it is. Is it safe from you being tempted to spend it?
what are your plans for the cash in the longer term?

Gunna but another property in 12 months, cheers...

johnboy13

Zanderman said:

Should be safe enough, but for the time being (however long that is) you could make it a little bit safer by opening a basic savings account with NatWest and transferring it to that.

Most bank fraud seem to affect current accounts - which have debit cards etc. A fraudster can't empty a savings account quite as easily.

Wow... Thanks for your advice, that is really helpful, I never thought of it like that, cheers...

SiliconChip

Your money will be safe in a NatWest current account unless you do something silly, but leaving £65K there for a year is a bad idea. Even moving it to the latest best easy access savings account at Yorkshire Building Society will earn you over £500, and there are ways in which you can make the money work even more for you.

https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/