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    New bank account.

    Ok, I currently have a bank account with nationwide, however, seeing as i turned 18 in may, the smart account that i currently have will be getting upgraded to an adult account, and i have been told that the upgrade isn't very good.

    I earn on average £500 a month, and would be looking to save about £200 of that. I don't mind staying with nationwide, however i would be willing to switch for a good deal.

    Also, any cashback or freebies would be good

    Rep will be given to those who help.

    Cheers,

    Jack.

    PS, any questions please ask.

    15 Comments

    I recommend an ISA -- ive got one with about £2400 in there and about 6% per year but you can get a much better rate - max £3000 per year though

    I've got a Natiowide flex account for my current account which is great for having your wages paid into and an esavings account set up alongside it ( you have to have the flexaccount to have the esavings account as it's managed online via the flexaccount) which seems to pay rather good interest and is instantly accessable online for paying in/taking out should you need to Seems to be 5.8% atm
    ]http//ww…gs/ and the flexaccount will let you withdraw money abraod free also should you need to. Think a lot of places charge for this

    I've held my current account at Citibank for many years now. They don't offer great rates for savers, but their standard current account includes an interest free £500 overdraft (yep, you heard me right the first time !!)

    citibank.co.uk/per…htm

    Not many uk branches, but I usually find one when I'm abroad (free use of foriegn cash point machines) and they have an alliance with Lloyds for paying in cash/cheques. On-line facilities are great and they're telephone support is above average.

    You don't make it clear whether you need the account for the savings element of your salary (£200) or the amount you spend. Always better of course, to siphon off the savings into a higher yielding account (e.g. the ISA suggested by dandoc).

    I recommend Northern Rock.

    Nah, joking aside (well, erm... actually... I'm not sure if I'm joking :P)... check out Bradford and Bingley. They do some excellent rates (up to 6.40% for the e-saver)... I would go on about how good they are etc but it's probably best you check out their site and draw your own conclusions: bbg.co.uk/

    if u want to save £200 a month every month a regular saver is the best idea Lloyd's TSB give a huge %8 alliance and leicester with %12 but u gotta get a premium account with alliance and leicester, but the Lloyd's TSB is a good 1 and new customers get like %6.4 on there current account with Lloyd's TSB

    I think Royal Bank of Scotland are still offering £100 cashback at the moment.

    The only advice I would give is if you are going to be dipping into savings then have them with the same bank as your current account, makes it easier to avoid charges etc, if not then Nationwide are very good in terms of foreign currency abroad.

    Banned

    I am with Halifax. A lot of people shun them as they are so big, and generally a customer face on a huge corporate (money grabbing) body. That aside though, they have consistantly been the top interest paying current account for many years. I also have a savings account, all set up online, and the ease of use of their website is excellent. You can pay your money into the current account and transfer to and from your savings instantly.

    anyone paying quidco???

    Bradford and Bingley will let you into their kids/teenagers (a smart2save iirc) up until you are 25, and is pretty similar to the smart account at nationwide: - I moved from one to the other when I hit 18.

    roadie

    anyone paying quidco???



    and in reply to QPRJACK

    If you can pay in £500 a month switch to the alliance and leicester. They pay £50 quidco for you to swap and 6.5% interest on your CURRENT ACCOUNT BALANCE. I have just switched myself all by online application and they sort out EVERYTHING for you from switching direct debits, changing your wages to go into your new account to closing your old account ( if that's what you want ) Also includes an interest free overdraft for a year if you need it, GREAT deal.

    how much interest free overdraft???
    is that depndent on credit?

    roadie

    how much interest free overdraft???is that depndent on credit?


    I suppose it all depends on credit but if you get accepted it's a minimum of £250 or they GUARANTEE to match the overdraft you currently have....

    ah rite cool
    ps quidco not paying maybe rpoints is

    roadie

    ah rite coolps quidco not paying maybe rpoints is


    Quidco pay £50!! Mine has already validated- tracks at £0.00 first then comes up at £50 a day or so later......
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