Alternative to Barclays Openplan Account

iwaddo77

For years my parents have relied on the 'sweep' functionality of the Barclays Openplan account to manage the levels of their current account. Apparently, it was an old Woolwich account.

Barclays have advised the the account is being withdrawn which has left them wondering how they will manage their accounts, they are both over 80, and have not had to manage their own cashflow for a long time.

Can anyone please recommend an alternative, thank you for your help?

Regards

Daliah

You could have a look at the Virgin Money M Plus account, which comes with an attached savings account (no interest above £25k though) and has a sweep function to move money from the savings account to the current account if the current account balance goes below £x. Not sure this is what your parents are after - perhaps you could detail what it is they need?

iwaddo77

@Daliah

Hi, thank you but I cannot see any 'sweep' function mentioned on their account page, perhaps I am not looking in the right place 

The functionality you describe is exactly what they have currently with Barclays. For example, if the visa bill direct debit is due the account will automatically move the funds from the linked savings account to ensure their current account minimum balance is maintained.

Thank you for your help. 

Daliah

From their FAQ:



It doesn't sound like the Openplan functionality but it might help.

iwaddo77

@Daliah
 
Excellent, thank you.