Which Bank accounts

wmb194

MouldyOldDough said:

I am also unsure as to the longevity of some of these new banks

I realise that I have fscs protection of my savings - but would prefer not to have to use this - if the bank has problems etc

So open current accounts with Lloyds, RBS, NatWest or Barclays.

Zinger549

The app only banks are becoming quite popular. Monzo has over 10million users. I've been using Monzo for a while now and not had any issues. Some of the established banks have had issues. Look what happened to Northern Rock.

MouldyOldDough

wmb194 said:

MouldyOldDough said:

I am also unsure as to the longevity of some of these new banks

I realise that I have fscs protection of my savings - but would prefer not to have to use this - if the bank has problems etc

So open current accounts with Lloyds, RBS, NatWest or Barclays.

Do any of them do free to operate - accounts that offer debit cards as well as interest ?

wmb194

MouldyOldDough said:

wmb194 said:

MouldyOldDough said:

I am also unsure as to the longevity of some of these new banks

I realise that I have fscs protection of my savings - but would prefer not to have to use this - if the bank has problems etc

So open current accounts with Lloyds, RBS, NatWest or Barclays.

Do any of them do free to operate - accounts that offer debit cards as well as interest ?

You've not done any research? Lloyds Club does if you meet the minimum monthly pay-in. If you want interest then you might have to compromise on how recognisable the bank is. This is just the way of these things.

MouldyOldDough

wmb194 said:

MouldyOldDough said:

wmb194 said:

MouldyOldDough said:

I am also unsure as to the longevity of some of these new banks

I realise that I have fscs protection of my savings - but would prefer not to have to use this - if the bank has problems etc

So open current accounts with Lloyds, RBS, NatWest or Barclays.

Do any of them do free to operate - accounts that offer debit cards as well as interest ?

You've not done any research? Lloyds Club does if you meet the minimum monthly pay-in. If you want interest then you might have to compromise on how recognisable the bank is. This is just the way of these things.

Yes I have done research but since these are going to be a secondary accounts - I will only be transferring say £100 per month in to each account - so Lloyds club is not suitable

The whole idea is to still be able to access funds if Nationwide goes down for any reason  as well as personal spending accounts to save arguments between myself and OH

wmb194

MouldyOldDough said:

wmb194 said:

MouldyOldDough said:

wmb194 said:

MouldyOldDough said:

I am also unsure as to the longevity of some of these new banks

I realise that I have fscs protection of my savings - but would prefer not to have to use this - if the bank has problems etc

So open current accounts with Lloyds, RBS, NatWest or Barclays.

Do any of them do free to operate - accounts that offer debit cards as well as interest ?

You've not done any research? Lloyds Club does if you meet the minimum monthly pay-in. If you want interest then you might have to compromise on how recognisable the bank is. This is just the way of these things.

Yes I have done research but since these are going to be a secondary accounts - I will only be transferring say £100 per month in to each account - so Lloyds club is not suitable

The whole idea is to still be able to access funds if Nationwide goes down for any reason  as well as personal spending accounts to save arguments between myself and OH

You'll be able to do that but you might not earn any interest if you go with a 'known' brand. That's the choice.

boingy

Kroo are decent enough. I use them as my "feeder account". I have various accounts that require money in and out plus a bunch of regular savers to feed and that is all handled with standing orders from Kroo. I tend to put about 4k in there and then top it back up to that level when it drops below about 2k. It's handy to have it pay interest - not quite at savings rates but pretty good.

Their customer service can be slow but they have dealt with the two or three queries I've had so far. 

Of course, you could opt to put, say,  4k of your money into a savings account then move it to your current account as you need it. 

But regardless of all that, the nosy side of me is wondering what prompted the change and what you each plan to spend the money on. I'm hoping it's on luxuries and/or frivolous stuff that will bring each of you guilt-free enjoyment!

steven141

I use Kroo as my spending account and have had no issues. They also have savings pots that can be created which are handy to separate funds. The interest rate changed to 3.15%APR from today since the Bank of England reduced the interest rate. But it's still more than what some banks are offering.

Eco_Miser

MouldyOldDough said:

wmb194 said:

MouldyOldDough said:

wmb194 said:

MouldyOldDough said:

I am also unsure as to the longevity of some of these new banks

I realise that I have fscs protection of my savings - but would prefer not to have to use this - if the bank has problems etc

So open current accounts with Lloyds, RBS, NatWest or Barclays.

Do any of them do free to operate - accounts that offer debit cards as well as interest ?

You've not done any research? Lloyds Club does if you meet the minimum monthly pay-in. If you want interest then you might have to compromise on how recognisable the bank is. This is just the way of these things.

Yes I have done research but since these are going to be a secondary accounts - I will only be transferring say £100 per month in to each account - so Lloyds club is not suitable

The whole idea is to still be able to access funds if Nationwide goes down for any reason  as well as personal spending accounts to save arguments between myself and OH

Lots of people, including me, pay £2000 into Lloyds Club to waive the fee, and move most of it out again almost immediately.

Having said that, the only reason I keep the account open now is to access the two Regular Saver accounts.

friolento

MouldyOldDough said:

I am also unsure as to the longevity of some of these new banks

 

I don’t think there is any reason for concern. Should any of them not be viable, they will be bought by one of the bigger ones. And as you say, there is FSCS (which I noted you don’t wish to use).