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geebomeow wrote: »
I just don't like accounts that charge
then they'll remove incentives and they will be our only option
EachPenny wrote: »
But opening a Marcus account and transferring the bulk of £20k from a 123 account over to it and leaving it sitting there until needed is not "shunting money all over the place every 5 minutes".
All the 'shunting' you are talking about is needed to earn cashback and interest in order to cover the £5 fee on the 123 account.
Ditching the 123 account entirely and moving the savings to Marcus (or some other instant access accounts) would earn you more interest and require less 'shunting'. That would be a better solution for someone who really values the pounds, shillings and pence and their time. (That's the point Karlie88 was making)
enthusiasticsaver wrote: »
That is one of the reasons I won't move my £20k from Santander 123. Always having enough in there to cover all eventualities gives great peace of mind. Also Marcus includes a 0.15% bonus which will disappear after 12 months. Also I wish people would not keep saying 1.26%. Santander pays 1.5%. It comes with a fee of £5 per month but the cashback for many of us more than covers that. Moving to Santander lite and going back to juggling money around is not something I want to do.
1.5% of £20k is £300 interest each year in Santander 123
Cashback for us averages £8.50 each month so £102 each year.
Monthly fee is £5 each month so £60 over the year
Total return is 1.71% on the £20k with no money juggling or need to open another account and move it in 12 months time.
No_6 wrote: »
Will you now sit in the chair !
I have all 3% and 5% accounts paying me !
so if Santy pays only 1.26 on a 1,5 account
I'm happy !
looks like you are NOT as your posts are mainly negative !
No_6 wrote: »
You have still LOST me man !!!
luckily going on hols....so wont miss this thread.
Just go and sit on the naughty chair !!!!
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