Club Lloyds and BOS dropping rates to 1.5% on 1st July

AirlieBird wrote: »

Through the gourmet society membership.

Yep. Gourmet Society gives access to Dragon Pass which has better choice than 1st Lounge Club which comes with AMEX.

adindas wrote: »

I wonder without instant access account wih reasonable amount of balance, how could you feed many RSAs regularly without hassle and risking your account tobe overdrawn if you are not carefull??

At a guess, the amount of RSAs will correlate to the amount of cash held to a large degree. Unless you are very precise with cashflow, it's hard to envisage say £3k maturing each month and then all of it going out again the next month into 9, 10 ,12 RSAs etc.

On my end, I have kept instant access cash to the maximum of the smaller bank accounts that paid the higher interest, which can be say £10k, and then additional goes into a Club Lloyds at 2%, from which all of the RSAs standing orders go out (to relevant current accounts a few days before if applicable). I have 6 RSAs on the go, totalling £1700 per month. Wages top this up, plus spending is on 0% cards, so Lloyds balance doesn't go down £1700 per month.

At higher levels, if you allow cash to build up to say £30k, then I would guess a Santander 123 would be used to keep larger sums at 1.5% and have the standing orders leaving from there.

Having 10 RSAs is probably not much more than £3k per month, so Santander 123 gives at least half a year of space if you don't put any additional monies in, and you're going to have quite a few maturities in those 6 months to top it back up.

I was going to move the £5000 from all three accounts to my ISA paying 1.65%. But should I keep one going just to use should a good switching deal come along?