Which Bank

jameseonline

steven141 said:

jameseonline said:

steven141 said:

jameseonline said:

I'm confused you say you are bored of Lloyds yet their Club Lloyds saver is 6.25% on a max of £400 a month.

I'm in with most well known banks/building societies etc, mainly for savings accounts (mainly regular savers)

I'm guessing you are mainly after savings?, I'd say get in with as many providers as possible, so use the top regular savings accounts on MSE as a guide, aim for the highest rates, also might be worth putting a £1 in with Skipton, £10 (or do their £50 a month small saver) with Saffron, £100 in with Cambridge, £1 with Coventry etc easy access accounts in order to build up loyalty & get better accounts in future.

More you are in with the easier it is to jump on any new accounts that come up.

Also not a good idea to get several new current accounts in a short time.

I've taken about 4 years to build up my collection of current accounts, not much left for me to get now, think it's just Metro & then app based providers tbh.

Also look out for switch offers & also use Quidco/TopCashback on top of those to maximise things.

I have 7 bank accounts and always wondered how that would look on a mortgage application. I use all accounts for a specific purpose but could it be seen as “playing the system” and they reject my application? 

I don't do mortgages just current accounts and savings accounts so can't really comment on that, not sure what you mean by playing the system as long as you meet criteria for having accounts not committing fraud etc can't imagine any/many issues

I just wasn’t sure what banks think of serial switchers that’s all. 

Depends how you class serial switchers I guess.

Some people just constantly switch the one account, I keep any accounts I switch to

steven141

jameseonline said:

steven141 said:

jameseonline said:

steven141 said:

jameseonline said:

I'm confused you say you are bored of Lloyds yet their Club Lloyds saver is 6.25% on a max of £400 a month.

I'm in with most well known banks/building societies etc, mainly for savings accounts (mainly regular savers)

I'm guessing you are mainly after savings?, I'd say get in with as many providers as possible, so use the top regular savings accounts on MSE as a guide, aim for the highest rates, also might be worth putting a £1 in with Skipton, £10 (or do their £50 a month small saver) with Saffron, £100 in with Cambridge, £1 with Coventry etc easy access accounts in order to build up loyalty & get better accounts in future.

More you are in with the easier it is to jump on any new accounts that come up.

Also not a good idea to get several new current accounts in a short time.

I've taken about 4 years to build up my collection of current accounts, not much left for me to get now, think it's just Metro & then app based providers tbh.

Also look out for switch offers & also use Quidco/TopCashback on top of those to maximise things.

I have 7 bank accounts and always wondered how that would look on a mortgage application. I use all accounts for a specific purpose but could it be seen as “playing the system” and they reject my application? 

I don't do mortgages just current accounts and savings accounts so can't really comment on that, not sure what you mean by playing the system as long as you meet criteria for having accounts not committing fraud etc can't imagine any/many issues

I just wasn’t sure what banks think of serial switchers that’s all. 

Depends how you class serial switchers I guess.

Some people just constantly switch the one account, I keep any accounts I switch to

I have opened and closed quite a few over the past few years. I have kept some but I think I have about 25 closed bank accounts in the past 6 years on my credit file. 

ThePirates

Bridlington1 said:

NatWest Reward- £3/mth (net) for paying out 2 DDs to myself and logging into the app each month plus access to a 6.17% regular saver

RBS Reward- £3/mth (net) for paying out 2 DDs to myself and logging into the app each month plus access to a 6.17% regular saver

Sounds like a good idea! How are you paying DDs to yourself?

Bridlington1

ThePirates said:

Bridlington1 said:

NatWest Reward- £3/mth (net) for paying out 2 DDs to myself and logging into the app each month plus access to a 6.17% regular saver

RBS Reward- £3/mth (net) for paying out 2 DDs to myself and logging into the app each month plus access to a 6.17% regular saver

Sounds like a good idea! How are you paying DDs to yourself?

https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

In my case NatWest is satisfied with a £2 plum DD going out weekly and RBS is satisfied by a NLA Scottish Widows internet saver DD for £50 going out twice on the same day (which can be swiftly withdrawn back to the nominated account).