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Best account for £30K

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My sister is hopeing for a payout of £30K from her ex to buy her out of their property, what she wants to know is, what is the best account to put it in as she won't be in a position to buy just yet but would want access to it should she need any of it.
Any advice would be appreciated.
regards VLT

Comments

  • Aegis
    Aegis Posts: 5,695 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Icesave and ICICI both have high-rate instant access savings accounts. You could look into either or both of those?
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
  • Primrose
    Primrose Posts: 10,701 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've been Money Tipped!
    Also, if she's a taxpayer, she might want to consider using her current Cash ISA tax year allowance until April 6th of £3000, and after that £3600 for the next tax year. If she selects an Easy access ISA that would protect £6600 of her £30,000 from tax on the interest and she can still close them and withdraw the money at any time. She should be sure to check that the accounts don't have any closure/time penalty
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