Can you have to many?

Band7

retiringtoosoon said:

subjecttocontract said:

Just had a count up = 51 accounts.

You must make a killing with YouGov.finance!

yougov.finance is limited to 10 accounts (and it's best to use current accounts and credit cards for it, not savings accounts - -  as detailed in the yougov.finance thread)

Band7

katejo said:

Rheumatoid said

I wouldn't be surprised if some on here had 50 or more.

Keeping track of lots of different login passwords is part of the problem!  :

That's where password managers come into their own

kitchensinq

subjecttocontract said:

Just had a count up = 51 accounts.

Out if interest (if you'll pardon the pun), why do you need that many?

housebuyer143

madlyn said:

refluxer said:

madlyn said:

Can you have to many savings accounts?
I currently have two EA savings accounts, Marcus and Coventry building society (I know there are better rates available) and I am contemplating opening another.
I don't have huge amounts in either of them and I deposit £20 a month into both and would put the same into another account if I were to open one.

For small monthly deposits like that, I would definitely look into Regular Saver accounts as you'll get higher rates of interest than you'll get in Easy Access accounts.

https://savingschampion.co.uk/best-buys/personal/regular-savings-accounts

Not looked at the link yet, but are regular savings accounts fixed for a certain period of time? usually 12 months.

Depends who you are with. NatWest pay 6.17% and you can withdraw when you want. It's not fixed.

AmityNeon

kitchensinq said:

subjecttocontract said:

Just had a count up = 51 accounts.

Out if interest (if you'll pardon the pun), why do you need that many?

No one needs that many, but unless an account (or service) has an ongoing cost, it doesn't need closing. Sometimes rate increases only apply to withdrawn issues/products. Building Society accounts can be worth keeping to maintain continuous membership for exclusive 'loyalty' products. Administratively, it's usually much easier to apply for new products as an existing customer.

subjecttocontract

kitchensinq said:

subjecttocontract said:

Just had a count up = 51 accounts.

Out if interest (if you'll pardon the pun), why do you need that many?

Well, I don't 'need' that many, that's just the way it's developed and I don't really try as hard as many on this forum.

Band7

Just counted my savings accounts - 131, incl 21 Virgin opened for me when I opened their then market leading current accounts, and 18 now pretty redundant Zopa accounts from when we could still ladder them, and when Zopa had good rates. In theory I could close the 21 + the 18, but it's too much hassle. So only 92 which still have a purpose.

I got several dozen current accounts, too, each with a purpose, which might be just a reserve for a switch, or something immediately useful like access to a savings account. And some investment accounts.

adindas

kitchensinq said:

subjecttocontract said:

Just had a count up = 51 accounts.

Out if interest (if you'll pardon the pun), why do you need that many?

To me because of this
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1
And they only allow me to put limited amount in this highs interest saving account.

Doctor_Who

Band7 said:

Just counted my savings accounts - 131, incl 21 Virgin opened for me when I opened their then market leading current accounts, and 18 now pretty redundant Zopa accounts from when we could still ladder them, and when Zopa had good rates. In theory I could close the 21 + the 18, but it's too much hassle. So only 92 which still have a purpose.

I got several dozen current accounts, too, each with a purpose, which might be just a reserve for a switch, or something immediately useful like access to a savings account. And some investment accounts.

And I thought having ~35 (mostly in a fixed rate bond ladder) was getting excessive. Looks like I've still got plenty of head room for more accounts!

wiseonesomeofthetime

Band7 said:

fourmarks said:

Band7 said:

Just counted my savings accounts - 131, incl 21 Virgin opened for me when I opened their then market leading current accounts, and 18 now pretty redundant Zopa accounts from when we could still ladder them, and when Zopa had good rates. In theory I could close the 21 + the 18, but it's too much hassle. So only 92 which still have a purpose.

I got several dozen current accounts, too, each with a purpose, which might be just a reserve for a switch, or something immediately useful like access to a savings account. And some investment accounts.

Remind me not to volunteer as executor for your will.

(Not for many many many years, obviously)

Rest assured, your services won't be required

It's a valid point though.

I have 54 savings accounts and 17 current accounts, and my son wouldn't have a clue 🤦‍♂️

I've seen various threads on various forums on how this can be made easier though, should I choose to 😂