Current Accounts - Anyone have several?

[bitchstewie]

I have a single current account that my salary goes into and that everything comes out of.

I guess like a lot of people I opened a current account when I was a student and I've simply never moved.

For savings I have various "pots" scattered about, but they're very much "savings" accounts so don't offer "banking" facilities like overdrafts (which I don't want/need) or debit/credit cards.

The new FCS limits have focussed my mind that I need to move a pile of money out of my bank and I'm wondering whether it's normal to have current accounts at more than one bank, as it may be useful as I can access it for daily use vs. it being a little more off limits in a savings account, if you get me.

[bitchstewie]

davepoth said:

Quite.

One thing that puzzles me is why you'd want to keep seventy five grand in a current account that doesn't earn much interest?

Unless you want to risk it, or commit it so you can't get to it, there aren't many options that pay much unless you literally want to scatter £3-5k pots everywhere.

1.5% is about the best I've seen that allows withdrawals.

[bitchstewie]

Sheepshanks said:

I suppose you should never say I it's impossible but I take the view that if banks start going bust then all bets are off anyway.

And in a way I kind of agree with that, but it would seem foolish to ignore the limits.

I've also been through the fun of wondering if all my savings had disappeared during the Icesave saga, so I'm a little more cautious now.