Chasing the best interest rate

flaneurs_lobster

smiley2085 said:

So just wondering what you guys do when you have to provide bank statements for things like visa applications or mortgage applications when you have so many bank accounts? 

Personally I have a "main" bank account (an account I've had for over 30 years) which is used as the recipient for all regular income and as the nominated account whenever a saver account needs one. It's also used as the feeder to the many RS accounts (or their parent current accounts).

This account gets used on the (infrequent) occasions when such personal details are needed.

TheBanker

Bridlington1 said:

malcolmw_3 said:

Ok one final attempt to clarify, it’s not the £37 (minus tax). In today’s email it’s made clear that the best interest rate gains 10p per £1000, my example is £3.70 per year. So where do you draw the line? From your position would you move for 10p? 

I have accounts with over 60 different banks/building societies, as a result in many cases it only takes a few minutes at most to open a new savings account and not much longer to get the money to it, I can do his whilst I'm waiting for the kettle to boil.

I have more transactions on my accounts each month than I care to remember, one or two more won't hurt and I quite enjoy being a rate tart to be honest. So yes, I'd move my savings for another 10p and have done so in the past, all those 10ps soon add up but I appreciate it's not everyone's cup of tea.

The 10p you make will cover the electricity used to boil the kettle, and the tea bag. So you get your cuppa for free. That's not a bad result, is it? Milk and one sugar, please! 

Bridlington1

TheBanker said:

Bridlington1 said:

malcolmw_3 said:

Ok one final attempt to clarify, it’s not the £37 (minus tax). In today’s email it’s made clear that the best interest rate gains 10p per £1000, my example is £3.70 per year. So where do you draw the line? From your position would you move for 10p? 

I have accounts with over 60 different banks/building societies, as a result in many cases it only takes a few minutes at most to open a new savings account and not much longer to get the money to it, I can do his whilst I'm waiting for the kettle to boil.

I have more transactions on my accounts each month than I care to remember, one or two more won't hurt and I quite enjoy being a rate tart to be honest. So yes, I'd move my savings for another 10p and have done so in the past, all those 10ps soon add up but I appreciate it's not everyone's cup of tea.

The 10p you make will cover the electricity used to boil the kettle, and the tea bag. So you get your cuppa for free. That's not a bad result, is it? Milk and one sugar, please! 

It's better than that surely? I have my tea black, no sugar so I can afford a biscuit to go with it as well.