I have bonds- but now looking to send some money in to a high interest bank savings (5 or 7%)

Bridlington1

ForumUser7 said:

Richard1212 said:

I'd back dmo84's choice.
I have several Natwest Accounts in addition to my Premier Select Account and I use the 5.12% DRSaver. BTW, some of the rates are going up at end of January but I must admit that I have not checked the details yet. No doubt somebody who loves googling will let us know if the 5.12% is affected---though somehow I doubt it 

I mentioned it in the Regular Saver thread - the 5.12% is not affected, it is just the rate for above £5000 increasing to 0.65% from 0.50%. I think they should increase the maximum monthly deposit, but that's likely wishful thinking.

Though if you have some time on your hands you can top it up with round ups, which won't count towards the monthly limit. I should have both Natwest and RBS filled soon as I've been dong some £1.01 deposits into an NS&I direct saver. Just be aware that there's a limit of 99 debit card payments per day per current account though and you will end up with one heck of a bank statement.

So you could argue that technically the maximum monthly deposit is £6,226.62 per current account (assuming the month has 31 days) if my maths serve me correctly.

ForumUser7

Bridlington1 said:

ForumUser7 said:

Richard1212 said:

I'd back dmo84's choice.
I have several Natwest Accounts in addition to my Premier Select Account and I use the 5.12% DRSaver. BTW, some of the rates are going up at end of January but I must admit that I have not checked the details yet. No doubt somebody who loves googling will let us know if the 5.12% is affected---though somehow I doubt it 

I mentioned it in the Regular Saver thread - the 5.12% is not affected, it is just the rate for above £5000 increasing to 0.65% from 0.50%. I think they should increase the maximum monthly deposit, but that's likely wishful thinking.

Though if you have some time on your hands you can top it up with round ups, which won't count towards the monthly limit. I should have both Natwest and RBS filled soon as I've been dong some £1.01 deposits into an NS&I direct saver. Just be aware that there's a limit of 99 debit card payments per day per current account though and you will end up with one heck of a bank statement.

So you could argue that technically the maximum monthly deposit is £6,226.62 per current account (assuming the month has 31 days) if my maths serve me correctly.

I used to do that for a bit to get it up to the £1,000, but then I started to get concerned in case NatWest decided they didn't want me as a customer anymore (they can drop a customer for any reason with sufficient notice). It'd be really frustrating if I spent ages doing the deposits, and then had my account closed 😂. I also have a spending/transfer/balance tracker that I use, and it was annoying having to log all of those too.