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Easy Access Accounts allowing more than 1 nominated account

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Comments

  • 35har1old said:
    Santander Edge Saver at 6% (£4k max)

    Leeds BS allow multiple nominated accounts on their limited access account, but interest is paid annually.

    YBS Rainy Day Saver 4.8% (£10k max, reduced to 4.55% from 10/12/24). Annual interest though

    Coventry BS, though their currently EA available rates aren't great.

    Ulster Loyalty Saver, annual interest though.
    Ulster Loyalty requires a current account held with Ulster bank
    Only to be eligible to open the Loyalty Saver though. Once the Loyalty Saver is open you can make payments from it to accounts held elsewhere without it going via the current account.
  • GeoffTF
    GeoffTF Posts: 2,127 Forumite
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    Why complicate things? Send money from Savings to Account A (nominated) then send it from A to account B?
    If you do that, you cannot get money to "Account B" if "Account A" fails or is blocked. "Savings" could fail or be blocked, of course. You need Savings B to protect against that. I am content as long as there is no single point of failure.
  • masonic
    masonic Posts: 27,475 Forumite
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    edited 17 November 2024 at 10:38AM
    GeoffTF said:
    Why complicate things? Send money from Savings to Account A (nominated) then send it from A to account B?
    If you do that, you cannot get money to "Account B" if "Account A" fails or is blocked. "Savings" could fail or be blocked, of course. You need Savings B to protect against that. I am content as long as there is no single point of failure.
    In that scenario, "Account A" with the same provider as "Savings" would probably fulfil your needs. Though pickings are rather slim at the moment among providers offering current accounts and the best ones have already been mentioned.
  • Why complicate things? Send money from Savings to Account A (nominated) then send it from A to account B?
    Thanks. The account is as a fall back incase one nominated account has a problem and need access to funds. Your idea is good but doesn't meet this 
  • km1500
    km1500 Posts: 2,790 Forumite
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    NS and I direct saver let's you have multiple withdrawal bank accounts
  • friolento
    friolento Posts: 2,520 Forumite
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    edited 17 November 2024 at 7:06PM
    GeoffTF said:
    Why complicate things? Send money from Savings to Account A (nominated) then send it from A to account B?
    If you do that, you cannot get money to "Account B" if "Account A" fails or is blocked. "Savings" could fail or be blocked, of course. You need Savings B to protect against that. I am content as long as there is no single point of failure.

    Would it not be easiest to change your nominated account, in the unlikely event that your Account A fails for some reason? You are depriving yourself of many good accounts by discarding the ones who only support one nominated account
  • friolento said:
    GeoffTF said:
    Why complicate things? Send money from Savings to Account A (nominated) then send it from A to account B?
    If you do that, you cannot get money to "Account B" if "Account A" fails or is blocked. "Savings" could fail or be blocked, of course. You need Savings B to protect against that. I am content as long as there is no single point of failure.

    Would it not be easiest to change your nominated account, in the unlikely event that your Account A fails for some reason? You are depriving yourself of many good accounts by discarding the ones who only support one nominated account
    No. I have 2 easy access accounts linked to main current account. Was looking for another account to link to both my current accounts (main and backup).

    Have decided to stick with Saffron Building Society and Investec as easy access accounts linked to my main current account and use Wealthify easy access linked to my back up current account. I know it's not exactly what I was planning but it seems to answer my needs. 

    Thanks for all you comments
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