Organising my bank accounts

jono-gmail

im looking at organising my banking and getting a few savings behind me was wondering if

1. having a current, savings account , pension and paying the maximum into an isa each year is the best way to go

2. if it is what are the best current and savings account and pension scheme?

I should have about a thousand pounds a month to invest, am not too worried about missing out on a few quid would just like to now what the most simple and popular options are, Thanks for any advive

Henwen

Golden rule - shop around and use Martin's emails and articles. He's fab!! Once you have put money somewhere check the rates every so often to check its still a good deal.

Tax free first so pension then ISA, then find the best savings account. You'll need a current account to run the direct debits etc and getting one with online access will save you tearing your hair out with call centres/branch staff/queues. Some current accounts even give decent interest.

If you don't need the money till you retire, lock it all up the in a pension. Stakeholders have the lowest charges I think. Otherwise, use an ISA up to £3600 a year (though you'll love the tax-free status if you take the money out and can't top it back up). For savings check the limits on the best accounts. Some give lousy interest if you put too much in - how perverse! Also think about whether you want more than £35000 with any bank as more than that is not guaranteed - see "Are my savings safe?" article.

Hope that helps.

jono-gmail

thanks henwen for taking the time to reply, some good info there. Have been reading the money saving tips tonight , is there any current accounts you could recommend, dont get any interest on mine at the moment!.

Baldur

jono-gmail wrote: »

thanks henwen for taking the time to reply, some good info there. Have been reading the money saving tips tonight , is there any current accounts you could recommend, dont get any interest on mine at the moment!.

See HERE for information.