how much to leave in an account, just in case in the future they have deals for customers

snickpan

I have £1000 in Skipton, as someone said they might be due to have an interesting account for customers in the near future.  But I'd rather leave less!  Would £100 serve as a placeholder?
£50?

SeriousHoax

I've got a few accounts with £1 in them just to keep them open.

ColdIron

It depends on the T&Cs of the particular account

I have many £0 accounts. My Skipton Base Rate Tracker minimum is £1 so that's what I keep in that one

Ch1ll1Phlakes

Pretty much this. Keep an least £1. Dates would be different for any newer accounts

clairec666

Skipton's good "members" deals specify that you have to have been a member since before a specified date. Keeping one account open with the minimum amount should suffice. Check on the specific T&Cs for that account.

mta999

Some building societies used to specify you had to have at least £100 in savings to be a 'member' - not sure if that is still true.

clairec666

"You only need £1 saved or a mortgage with us to be a member."

Barkin

clairec666 said:

"You only need £1 saved or a mortgage with us to be a member."

Who are you referring to? Skipton or "some building societies"?

As always, refer to the relevant T's&C's.

e.g. The Cambridge has a regular saver that's only available if you've held another product for 3 years, and the minimum balance on their savings products seems to be £100.

Quite different to Skipton's eligibility criteria...

vacheron

Based on the last Skipton regular saver, of 7% on £250 you would make about £100 per year if you maxed out the monthly limit. I'd assume this issue could be closer to 5.5%.

By comparison, switching the Skipton account to one of the many banks currently offering £175 cash to switch and then putting the money into a standard 3.5% savings account would make you about £225 in total.   

clairec666

Barkin said:

clairec666 said:

"You only need £1 saved or a mortgage with us to be a member."

Who are you referring to? Skipton or "some building societies"?

As always, refer to the relevant T's&C's.

e.g. The Cambridge has a regular saver that's only available if you've held another product for 3 years, and the minimum balance on their savings products seems to be £100.

Quite different to Skipton's eligibility criteria...

Quoted directly from Skipton's website

35har1old

vacheron said:

Based on the last Skipton regular saver, of 7% on £250 you would make about £100 per year if you maxed out the monthly limit. I'd assume this issue could be closer to 5.5%.

By comparison, switching the Skipton account to one of the many banks currently offering £175 cash to switch and then putting the money into a standard 3.5% savings account would make you about £225 in total.   

The current members regular is at 6% but it is a tracker 2% above base rate
Need to have a bank account to do the above.Can still do better than 3.5% to obtain the total of £225 need to be hitting 5%
Cahoot currently at 5%