where to bank money short term

pamjb0

I'm wondering where to put proceeds from house sale whilst waiting for new purchase to go through. Should I just put it in my current account or open an easy access savings account

TimSynths

NS&I, I also think that property funds over £85k are protected for a time frame too, if you are between house purchases. 

National Savings & Investments | 100% Secure Saving | NS&I (nsandi.com)

refluxer

This is worth a read... https://www.fscs.org.uk/making-a-claim/claims-process/temporary-high-balances/

t1redmonkey

I'm in the same situation, just split the money between 3 easy access savings accounts currently making sure each one is below £85k for FSCS protection purposes (Cynergy/Zopa/Al Rayan).  Using the boosted 31 day access account with Zopa to get a bit more interest, when I get a offer accepted I will give notice on that one.

eskbanker

t1redmonkey said:

I'm in the same situation, just split the money between 3 easy access savings accounts currently making sure each one is below £85k for FSCS protection purposes (Cynergy/Zopa/Al Rayan).

As explained in the link in the post immediately before yours, there's no need to split the money into £85K chunks when FSCS protects up to £1m in a single institution for up to six months if it's proceeds from selling your main residence.