Need Good Savings Rate (1 Viewer)

Minxy

LIFE MEMBER
Aug 22, 2007
32,488
66,007
E Yorks
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149
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Carthago Compactline
Exp
Since 1996, had Elddis/Swift/Rapido/Rimor/Chausson MHs. Autocruise/Globecar PVCs/Compactline i-138
We've had more problems with UK based banks and been 'ripped off' by them ... by comparison Santander are angels! At present we've got 31 current accounts (but 2 are going to be 'switched' shortly) and 18 saving accounts/bonds between us ... so at this point in time that's 49 accounts in total ... we've already swiched a few too so the total was even more until recently! :eek: Some of our current accounts don't pay interest but have to be opened in order to access other savings products, such as monthly savers etc.

I have them all on an excel spreadsheet which is a thing of beauty if I do say so my self ... and a necessity ... no way could I keep track of the account numbers, log-ins, passwords etc without it ...it is suitable password protected, coded and hidden of course! :D

If you are prepared to put the time in and take advantage of the 'switching' offers out there you can earn a nice bit of dosh ... I think so far we've 'earned' over £1500 between us doing this ... think of it as nearly half a Smart car! :LOL: The most labourous part is setting up the standing orders to meet the account terms for 'monthly throughput', but once they're done I can just leave them to chug away each month. :)
 

parknride

Free Member
Jan 21, 2014
1,400
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cumbria
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c class
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since 1988
@MinxyGirl wow! I got headache thinking about your accounts. I thought Les was daft enough opening/switching accounts & like you all on exel spreadsheets but it adds up to a few hundred £ per year for the effort (We don't have nearly as many as you).
We do have the 3 x santander123 account ping ponging back and forth and they are definitely worth it. We are very satisfied with Santander, no problems and very helpful. Easy online banking system. Home insurance a good deal too.
 

Minxy

LIFE MEMBER
Aug 22, 2007
32,488
66,007
E Yorks
Funster No
149
MH
Carthago Compactline
Exp
Since 1996, had Elddis/Swift/Rapido/Rimor/Chausson MHs. Autocruise/Globecar PVCs/Compactline i-138
@MinxyGirl wow! I got headache thinking about your accounts. I thought Les was daft enough opening/switching accounts & like you all on exel spreadsheets but it adds up to a few hundred £ per year for the effort (We don't have nearly as many as you).
We do have the 3 x santander123 account ping ponging back and forth and they are definitely worth it. We are very satisfied with Santander, no problems and very helpful. Easy online banking system. Home insurance a good deal too.
There is a downside though ... I have to do self-assessment tax returns for me and hubby and they can be a ruddy nightmare with so many accounts to 'account' for! :confused: I've made a tax return spreadsheet so have just done our 2014-15 submissions and have been preparing the spreadsheet for 2015-16 whilst it was all 'fresh' in my mind ... which has been well and truly spinning!!!! :eek: Better get off to bed I suppose!!! :X3:

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Deneb

Free Member
Oct 20, 2015
1,598
2,334
Europe
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39,680
MH
PVC
We've had more problems with UK based banks and been 'ripped off' by them ... by comparison Santander are angels! At present we've got 31 current accounts (but 2 are going to be 'switched' shortly) and 18 saving accounts/bonds between us ... so at this point in time that's 49 accounts in total ... we've already swiched a few too so the total was even more until recently! :eek: Some of our current accounts don't pay interest but have to be opened in order to access other savings products, such as monthly savers etc.

We have a similar number of current accounts too. I also have a spreadsheet, and keep track of everything in Quicken, which I wouldn't be without.

I've not had any problems with Santander. General consensus on the Moneysavingexpert forums is that whilst they had a bad reputation historically, they seem to have got their act together over the last few years.

Just don't get me started on Post Office Savings or Icici Bank :(
 

parknride

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Jan 21, 2014
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Just don't get me started on Post Office Savings :(

Dirty word:mad:
I leave the SA tax forms for Les, he likes getting stuck into figures. I make tea, lunch, gofer this receipt and gofer that etc etc.
 

Deneb

Free Member
Oct 20, 2015
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Oops, why not ? Just seen they are doing 1.65%

I had a cash ISA with them a few years ago. To cut a long story (about 8 months worth) short, I had to involve the FOS to get the correct amount of interest credited to it. PO Savings admitted their error from the start, but followed up with a succession of broken promises and letters they subsequently claimed to have sent that I had never received. They eventually agreed to close the account, transfer the funds to another provider including the missing interest, and pay compensation (which I hadn't asked for). I ended up having to go back to the FOS to prompt them into actually making good on their promise though. Never again.
 

Langtoftlad

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Apr 12, 2011
8,832
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Langtoft, South Lincs
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WildAx Aurora FB [PVC]
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Since 2015
Used to be a regular "stoozer" when interests rates were high, but not worth the effort these days.
Short term I'd go with maxing out Premium Bonds (you never know) and the balance in high Street bank accounts.
 

parknride

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Jan 21, 2014
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cumbria
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Oops, why not ? Just seen they are doing 1.65%
Had problems dealing with account administration for mum and MIL, they were so unhelpful and obstructive. Never again.

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parknride

Free Member
Jan 21, 2014
1,400
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cumbria
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29,786
MH
c class
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since 1988
Used to be a regular "stoozer" when interests rates were high, but not worth the effort these days.
Short term I'd go with maxing out Premium Bonds (you never know) and the balance in high Street bank accounts.
Ive just done this today, dabbled a little with small amounts in the past, not much luck. Going to try again with bigger amount might win just in time for Christmas.
 
Jan 28, 2008
10,104
18,259
Dovercourt, Harwich, UK
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1,353
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Renalt burstner
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7 years campers before that
ater 40 years with barclays i went over to santander for business acount and now my personal account 123 never had any problems with them and the business account any problems are dealt with in uk liverpool i think from the accents
their online banking is great easy to get into and i can see all three accounts(ISA AS WELL) there in one place as they are linked. Barclays on the other hand use a stupid card reader that you need to have with you for internet access
 

brynric

LIFE MEMBER
Sep 5, 2009
722
1,515
Worcestershire
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8,333
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Pilote G600
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2012
We are in exactly the same situation. House sale, 6 months to tie money up, don't want to involve risk etc.
We considered premium bonds but we would lose a couple of months due to the timing involved. We don't want the hassle of setting up a range of different accounts with suitable direct debits etc.
In the end we put as much as possible into ISAs. We kept some in the current account to make the most of the interest and the bulk we put into a defined access account with Virgin. It was all done online and the interest rate is better if you don't make withdrawals. We're covered up to £1m for 6 months, if we have to go beyond that we'll panic quietly.

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