zlb
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Post by zlb on Jan 11, 2019 10:33:22 GMT
Does anyone recommend or know of a current account that works online and gives % on a low few K sitting in there, without charging for that?
I know people mention here sometimes, but I can't find a thread for it.
It's proving hard to wade through the switching offers - and they all require a high monthly deposit well over £1000 apart from Santander at £500, who also charge £5 a month for the benefit of the same interest rate as Marcus.
I'm finding it hard to find a current account which pays any interest without requiring a monthly fee or a certain amount per month deposit.
Or any other ideas.
Thanks.
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carolus
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Post by carolus on Jan 11, 2019 10:46:48 GMT
Note that the monthly pay in is not a *net* pay in. You can simply transfer money in and out.
As it is, the only current account I'm aware of that does not require a pay in is Tesco Bank, which pays 3% up to £3000. However, I think it requires three direct debits to br paid out.
Alternatives are:
TSB Classic Plus (5% up to 1500, 500 monthly)
Nationwide Flexdirect (5% up to 2500, 1000 monthly, rate lasts for one year)
EDIT: the switching offers are also dead easy to do, and generally pay more up front than you would expect in a year of interest from one of these accounts.
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r00lish67
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Post by r00lish67 on Jan 11, 2019 10:49:20 GMT
Does anyone recommend or know of a current account that works online and gives % on a low few K sitting in there, without charging for that? I know people mention here sometimes, but I can't find a thread for it. It's proving hard to wade through the switching offers - and they all require a high monthly deposit well over £1000 apart from Santander at £500, who also charge £5 a month for the benefit of the same interest rate as Marcus. I'm finding it hard to find a current account which pays any interest without requiring a monthly fee or a certain amount per month deposit. Or any other ideas. Thanks. Re: meeting the monthly turnover, you could just pay it in and pay it straight out again? Given that, Nationwide Flexplus £2500 @ 5% is what I'd suggest. You can also be referred for an additional £100 cashback. As a more general tip, you can use this website to see other options: bankaccountsavings.co.uk/Edit: crossed with carolus ..great minds ;-)
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Post by df on Jan 11, 2019 12:56:39 GMT
Note that the monthly pay in is not a *net* pay in. You can simply transfer money in and out. As it is, the only current account I'm aware of that does not require a pay in is Tesco Bank, which pays 3% up to £3000. However, I think it requires three direct debits to br paid out. Alternatives are: TSB Classic Plus (5% up to 1500, 500 monthly) Nationwide Flexdirect (5% up to 2500, 1000 monthly, rate lasts for one year) EDIT: the switching offers are also dead easy to do, and generally pay more up front than you would expect in a year of interest from one of these accounts. Just to add to it. You can currently open two TSB accounts (2nd must be joint).
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zlb
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Post by zlb on Jan 11, 2019 12:58:18 GMT
Does anyone recommend or know of a current account that works online and gives % on a low few K sitting in there, without charging for that? I know people mention here sometimes, but I can't find a thread for it. It's proving hard to wade through the switching offers - and they all require a high monthly deposit well over £1000 apart from Santander at £500, who also charge £5 a month for the benefit of the same interest rate as Marcus. I'm finding it hard to find a current account which pays any interest without requiring a monthly fee or a certain amount per month deposit. Or any other ideas. Thanks. Re: meeting the monthly turnover, you could just pay it in and pay it straight out again? Given that, Nationwide Flexplus £2500 @ 5% is what I'd suggest. You can also be referred for an additional £100 cashback. As a more general tip, you can use this website to see other options: bankaccountsavings.co.uk/Edit: crossed with carolus ..great minds ;-) wow Thanks for website and ideas. IF I take up the nationwide account, do you want to refer me?? I was aware of the idea of moving money back and forward, and it doesn't have to stay there... Imagine it can be set up as standing order...
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zlb
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Post by zlb on Jan 11, 2019 13:00:26 GMT
Note that the monthly pay in is not a *net* pay in. You can simply transfer money in and out. As it is, the only current account I'm aware of that does not require a pay in is Tesco Bank, which pays 3% up to £3000. However, I think it requires three direct debits to br paid out. Alternatives are: TSB Classic Plus (5% up to 1500, 500 monthly) Nationwide Flexdirect (5% up to 2500, 1000 monthly, rate lasts for one year) EDIT: the switching offers are also dead easy to do, and generally pay more up front than you would expect in a year of interest from one of these accounts. thanks, yes direct debits are an issue for me. Thanks for Tesco tip.
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zlb
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Post by zlb on Jan 11, 2019 13:21:23 GMT
Note that the monthly pay in is not a *net* pay in. You can simply transfer money in and out. As it is, the only current account I'm aware of that does not require a pay in is Tesco Bank, which pays 3% up to £3000. However, I think it requires three direct debits to br paid out. Alternatives are: TSB Classic Plus (5% up to 1500, 500 monthly) Nationwide Flexdirect (5% up to 2500, 1000 monthly, rate lasts for one year) EDIT: the switching offers are also dead easy to do, and generally pay more up front than you would expect in a year of interest from one of these accounts. Just to add to it. You can currently open two TSB accounts (2nd must be joint). have TSB systems problems been resolved now?
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benaj
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Post by benaj on Jan 11, 2019 13:32:57 GMT
These two I consider as freebies current accounts as long as you have low cost Direct debits. I don't leave much cash in these accounts
Co-operative bank is not a profitable bank, but it pays up to £5.50 monthly reward, requires 4 DDsI just let Revolut to handle 30 monthly transactions.
Barclays current account also gives up to £7 a month for £3 fee, requires 2 DDs.
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Nomad
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Post by Nomad on Jan 11, 2019 14:02:18 GMT
Just to add to it. You can currently open two TSB accounts (2nd must be joint). have TSB systems problems been resolved now? TSB has been working fine for me for some time now. Moved quite a few things over to Monzo when TSB was playing up...
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mjc
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Post by mjc on Jan 11, 2019 14:20:21 GMT
Note that the monthly pay in is not a *net* pay in. You can simply transfer money in and out. As it is, the only current account I'm aware of that does not require a pay in is Tesco Bank, which pays 3% up to £3000. However, I think it requires three direct debits to br paid out. Alternatives are: TSB Classic Plus (5% up to 1500, 500 monthly) Nationwide Flexdirect (5% up to 2500, 1000 monthly, rate lasts for one year) EDIT: the switching offers are also dead easy to do, and generally pay more up front than you would expect in a year of interest from one of these accounts. So, having a Lloyds a/c (as they and TSB give low cost approved O/D if required) this could work:- 1st £1000 L to T(esco) 2nd £250 T to NW 3rd £500 T to TSB 4th £250 T to NW again 5th £500 TSB to N/W 6th £1000 N/W to Lloyds over and above the maximum holdings. This is only playing the hook and forget ‘bonus’ tricks f the banks. TSB problems are solved (I think). I went into branch and THEY suggested and set this all up, for missus and for me, from one to the other. After she passed away, I inherited her Classic, so yes I do have two accounts. But I am not currently playing this game as money is better invested in ISA/AC bonus, but when fully funded, it is worth doing. Long gone are the days they paid you MORE for larger holdings, now a cliff edge to zero!
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r00lish67
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Post by r00lish67 on Jan 11, 2019 14:34:35 GMT
Re: meeting the monthly turnover, you could just pay it in and pay it straight out again? Given that, Nationwide Flexplus £2500 @ 5% is what I'd suggest. You can also be referred for an additional £100 cashback. As a more general tip, you can use this website to see other options: bankaccountsavings.co.uk/Edit: crossed with carolus ..great minds ;-) wow Thanks for website and ideas. IF I take up the nationwide account, do you want to refer me?? I was aware of the idea of moving money back and forward, and it doesn't have to stay there... Imagine it can be set up as standing order... Yeah that's what I did, with the SO. Happy to refer you if rqd, just send me a private message.
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Post by df on Jan 11, 2019 15:52:52 GMT
Just to add to it. You can currently open two TSB accounts (2nd must be joint). have TSB systems problems been resolved now? Yes, you can set up new account online now - don't need to visit branch.
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zlb
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Post by zlb on Jan 12, 2019 11:02:02 GMT
These two I consider as freebies current accounts as long as you have low cost Direct debits. I don't leave much cash in these accounts Co-operative bank is not a profitable bank, but it pays up to £5.50 monthly reward, requires 4 DDsI just let Revolut to handle 30 monthly transactions. Barclays current account also gives up to £7 a month for £3 fee, requires 2 DDs. ok...so where does Revolut come into this? They're a bank with loads of benefits for travellers at high cost... I thought you might be mentioning a DD simulation service!
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benaj
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Post by benaj on Jan 12, 2019 15:48:05 GMT
I use Revolut to make 30 debit card transactions via Applepay and transfer the fund back to my other uk current account for the £5.50 monthly reward.
Revolut standard is free and sometimes offers a physical debit Visa card for free, I got one for just Christmas
Many businesses including FC collect direct debit payment from Current Accounts use gocardless for direct debit collection
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travolta
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Post by travolta on Jan 12, 2019 15:57:05 GMT
These two I consider as freebies current accounts as long as you have low cost Direct debits. I don't leave much cash in these accounts Co-operative bank is not a profitable bank, but it pays up to £5.50 monthly reward, requires 4 DDsI just let Revolut to handle 30 monthly transactions. Barclays current account also gives up to £7 a month for £3 fee, requires 2 DDs. ok...so where does Revolut come into this? They're a bank with loads of benefits for travellers at high cost... I thought you might be mentioning a DD simulation service! Would like to know the Barclays A/C paying £7.00?..... I've laboured through the ultimate switching, recommending bonus chore and did make the money ,but the mind numbing inefficiency of most of the banks nearly killed me . Must have spent hours listening to queuing tunes to rectify the damage....Co-op : Nationwide etc were staffed by Baby Groots.
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