40k to invest/save which account?

[peterperkins]

OK have 40k want to keep it somewhere that pays reasonable interest.

Already have 123 account and premium bonds so need another account/idea.

Don't want any risk... No stocks/shares etc..

Looking for the PH geniuses to come to the rescue. Thanks

[Jockman]

Do you have 3 of the 123 accounts?

[p1stonhead]

Do you have a better half?

You can have 3 123 accounts. 1 each and a joint.

£1800 a year on 3 accounts with a few bits of cashback.

[forest07]

p1stonhead said:

Do you have a better half?

You can have 3 123 accounts. 1 each and a joint.

£1800 a year on 3 accounts with a few bits of cashback.

I was considering doing this myself. I already have a 123 account in my name with all our DD's for cash back.
If we open anymore 123 accounts do you have to have some DD's from each account? This was something I was going to ask Santander later this week.

TonyR

[Jockman]

forest07 said:

p1stonhead said:

Do you have a better half?

You can have 3 123 accounts. 1 each and a joint.

£1800 a year on 3 accounts with a few bits of cashback.

I was considering doing this myself. I already have a 123 account in my name with all our DD's for cash back.
If we open anymore 123 accounts do you have to have some DD's from each account? This was something I was going to ask Santander later this week.

TonyR

Yes. Move 2 over to the others. Simple process.

[p1stonhead]

forest07 said:

p1stonhead said:

Do you have a better half?

You can have 3 123 accounts. 1 each and a joint.

£1800 a year on 3 accounts with a few bits of cashback.

I was considering doing this myself. I already have a 123 account in my name with all our DD's for cash back.
If we open anymore 123 accounts do you have to have some DD's from each account? This was something I was going to ask Santander later this week.

TonyR

You need £500 going into each account each month (but then you can transfer it straight back out again) and 2 direct debits from each. You can simply set up 2 £1 charity direct debits for example if you want.

[droopsnoot]

I'm nothing to do with this site, but it seems to be quite useful in calculating what you can get for your money: https://www.bankaccountsavings.co.uk/calculator

Doesn't include some regular savers, though, which can pump a bit more in.

[Steve Campbell]

Seems that £50k is the cut off for bonus interest in accounts in my bank :

eg Natwest Premium Saver : >£25k = 0.75%, >£50k = 1%

[KTF]

Have a look at the 'savings fountain' here: http://www.moneysavingexpert.com/latesttip/

[jonny70]

forest07 said:

I was considering doing this myself. I already have a 123 account in my name with all our DD's for cash back.
If we open anymore 123 accounts do you have to have some DD's from each account? This was something I was going to ask Santander later this week.

TonyR

Yes , you need 2 direct debits per account . What I do is simply set up 2 charity direct debits on each account for 50p ( so 50p a month to cancer research and 50p a month to Parkinson's Uk)

[Jockman]

I'm finding the charity angle a wee bit awkward but maybe it's just me being an over-sensitive muppet.

[p1stonhead]

Jockman said:

I'm finding the charity angle a wee bit awkward but maybe it's just me being an over-sensitive muppet.

They dont have to be for 50p!