Any advice for current account?

Options
2

Comments

  • Zero_Sum
    Zero_Sum Posts: 1,567 Forumite
    Options
    As above i have
    Nationwide - £10
    TSB - £6
    Tesco x 2 - £15
    Halifax x 2 - £4
    Co - op - £5
    Santander - £4 (but think i might have a plan to increase that quite a bit if it works)

    The halifax ones, have had them for years when you got £5 so its just a case of might as well keep them & just put a few quid in to cover DD's. But if i didnt already have one, probably wouldnt bother with it.
  • SlovakianGuy
    SlovakianGuy Posts: 303 Forumite
    First Anniversary First Post Photogenic
    Options
    lovingtescoforever wrote: »
    I have similar to the above.

    Nationwide FlexDirect £10.38 per month x 3
    TSB ClassicPlus £6.24 per month x 3
    Tesco current account £7.31 per month x 2
    Club Lloyd’s £6.24 per month x 2

    Halifax doesn’t seem worth the effort for only £2 now.

    Nationwide is by far the easier and most rewarding for the time being.


    You can earn interest on 3x FlexDirect ???

    Nationwide have told me I can have more accounts but only get the 5% interest on one!


    Btw, Club Lloyds is not worth it in my opinion. You need to leave there 5k, just to receive 6 quids. That doesn't even offset the inflation rate. TSB is much better for that, because you only need 1.5k for the same 6 quids, but those 1.5k earn you more than the inflation eats off them.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Name Dropper First Post First Anniversary
    Options
    SlovakianGuy wrote: »
    You can earn interest on 3x FlexDirect ???
    When the poster said "I", they really meant "we"...as in there are two of them so the 3rd account is joint.
    Nationwide have told me I can have more accounts but only get the 5% interest on one!
    Correct, as per the T&Cs any subsequent FlexDirect accounts earn 1%.
    Btw, Club Lloyds is not worth it in my opinion. You need to leave there 5k, just to receive 6 quids. That doesn't even offset the inflation rate. TSB is much better for that, because you only need 1.5k for the same 6 quids, but those 1.5k earn you more than the inflation eats off them.
    "Not worth it"? You can hold the account, leave it largely empty, grab 6 free cinema tickets per year (or another Lifestyle Benefit), and gain access to a 2.5% regular saver. All you have to do is cycle £1,500 through the account each month. Maybe cross-fire using the TSB funds and kill two birds with one stone?
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
    Name Dropper First Anniversary First Post
    Options
    Persil43 wrote: »
    Thank you for the information!


    Change the record.
  • ET18
    ET18 Posts: 48 Forumite
    First Anniversary First Post
    Options
    I have an appointment tomorrow to downgrade my santander current account but they said I would lose my regular saver if I go to everday current account.

    Do you think it is wise to downgrade to lite 123 (i get 85p cashback, £1 fee) but get to keep the saver...
  • colsten
    colsten Posts: 17,597 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Options
    ET18 wrote: »
    I have an appointment tomorrow to downgrade my santander current account but they said I would lose my regular saver if I go to everday current account.

    Do you think it is wise to downgrade to lite 123 (i get 85p cashback, £1 fee) but get to keep the saver...

    Can't you get a 5% Monthly Saver? FD, M&S, Nationwide.....most, if not all, of whom will also pay you to switch to them
  • eskbanker
    eskbanker Posts: 31,469 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    colsten wrote: »
    Can't you get a 5% Monthly Saver? FD, M&S, Nationwide.....most, if not all, of whom will also pay you to switch to them
    From OP:
    ET18 wrote: »
    Other accounts I hold:
    Nationwide Flex direct , a regular saver and a HTB ISA
    First direct current account and regular saver
    HSBC graduate account and a regular saver
    Agreed that M&S isn't mentioned though!
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Name Dropper First Post First Anniversary
    Options
    ET18 wrote: »
    I have an appointment tomorrow to downgrade my santander current account but they said I would lose my regular saver if I go to everday current account.

    Do you think it is wise to downgrade to lite 123 (i get 85p cashback, £1 fee) but get to keep the saver...
    I'm not sure you'd lose it. Probably just see the interest rate cut? But I believe the T&Cs have been disected previously on here and a view taken that you only had to be a 123 customer to open the account at the higher rate.

    However, 15p per month for however many months it has to run is a small price to pay for peace of mind.
  • tomthered
    tomthered Posts: 258 Forumite
    Name Dropper First Anniversary
    Options
    Tagging on to this post could I ask if I switch to HSBC for the £175 via this forum, would I just be able to pay in £1750 a month and then move it out again. Is there a requirement to have your wages paid in?


    I ask because soon my Tesco account wont be paying much interest so I might as well switch it.


    Thanks In advance
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Name Dropper First Post First Anniversary
    Options
    tomthered wrote: »
    Tagging on to this post could I ask if I switch to HSBC...
    Wouldn't It have been better to tag it on to the thread immediately below this one, entitled "HSBC Current Account Switch?

    Anyway, the answers to your questions are yes and no...in that order.

    But a word of warning, if your net pay is less than £1750 per month you'll do well to get accepted for the Advance account.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.7K Banking & Borrowing
  • 250.2K Reduce Debt & Boost Income
  • 449.9K Spending & Discounts
  • 235.8K Work, Benefits & Business
  • 608.9K Mortgages, Homes & Bills
  • 173.3K Life & Family
  • 248.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards