Trustee Deposit Service

xiox

Just a pointer to a company I heard about on Moneybox yesterday: The Trustee Deposit Service - http://news.bbc.co.uk/1/hi/programmes/moneybox/7354268.stm . Apparently they offer a service to spread your money around different accounts to keep you always under the 35k protection limit. The good news: They choose the highest interest (instant access) accounts. The bad news: It costs 0.5%. Ouch. Seems rather expensive for something you could do yourself. Also there's very little on the internet about this, which is a little odd.

Aegis

xiox wrote: »

Just a pointer to a company I heard about on Moneybox yesterday: The Trustee Deposit Service - http://news.bbc.co.uk/1/hi/programmes/moneybox/7354268.stm . Apparently they offer a service to spread your money around different accounts to keep you always under the 35k protection limit. The good news: They choose the highest interest (instant access) accounts. The bad news: It costs 0.5%. Ouch. Seems rather expensive for something you could do yourself. Also there's very little on the internet about this, which is a little odd.

0.5% completely negates the point of going for the higher interest accounts. You might as well stick it all with one of the really big players for that sort of charge. All it can really be doing is making (probably a LOT of ) money for doing something that should take you a couple of hours at most.