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20 Comments

  1. 23rd April 2018 / 1:32 pm

    There are so many useful tips here that I need to act on. I didn’t know about the railcard thing, for example, and my son could really benefit. Thanks

    • 29th April 2018 / 9:14 am

      Thank you! Hope your son saves loads with the railcard.

  2. 23rd April 2018 / 1:54 pm

    One of the things that stops me from opening accounts with other banks is the lack of branches about these days. I still get a lot of cheques to pay in plus for security reasons I refuse to take cash out of ATMs.

    • 29th April 2018 / 9:16 am

      Wow interesting that you don’t use ATMs. Do you have a Post Office nearby? I pay in cheques to my First Direct account via a Post Office, and they accept payments in from lots of other banks too. Might widen your choice if you did want to open a new account.

    • 29th April 2018 / 9:16 am

      Oh good I’m glad! Hope it helps make the most of your money.

  3. 23rd April 2018 / 3:47 pm

    Thanks for these! The tip about setting up a standing order to go in and then back out, and then repeating, to make sure that you hit the minimum amounts each month is super helpful – I’d never quite got my head round how people manage to get the benefits of multiple accounts. Super simple once you know how!

    • 29th April 2018 / 9:19 am

      Glad the standing order tip helped! You could also use the same amount twice – so standing order for £500 in and out early in the month, and in and out later in the month, to make up a £1,000 a month minimum. Takes a bit of time to set up at the start, but then looks after itself.

  4. 23rd April 2018 / 4:25 pm

    I remember the good old days of not having to close your previous bank account in order to switch – I really miss those!

    I might look into the cheaper Santander current account – that’s a great amount of cashback and interest!

    • 29th April 2018 / 9:20 am

      Yes, sad days now you mostly have to switch and close the old account! The banks wised up. Just not for the cheaper Santander 123 Lite account, you only get the cashback, not interest. I use the Santander 123 with a higher fee because I do have some savings so I’m keen to earn interest.

  5. 23rd April 2018 / 4:28 pm

    Great tips here.

    I’ll put my hand up and admit that I was once one of those that didn’t switch as it seemed to be such a hassle, but there aren’t any excuses nowadays with the current account switch guarantee

    • 29th April 2018 / 9:21 am

      Thanks David! The current account switch guarantee really has made switching less hassle, plus they’ll reimburse you for charges etc if something does go wrong.

  6. Jane Wallace
    23rd April 2018 / 5:18 pm

    Great piece! Didn’t realise so much was up for grabs.

    • 29th April 2018 / 9:21 am

      I was shocked myself when I actually started adding it up.

  7. 23rd April 2018 / 8:09 pm

    Thanks for the great tips! I’m definitely going to go and switch my bank account now, I thought about it ages ago but had completely forgotten until I just read your post. I also have a Nationwide Flex, so I’ll have to try and persuade people now that they want one too!

    • 29th April 2018 / 9:22 am

      Reckon most of us have good intentions about switching accounts, which never quite happen. But there are some good offers and good account around if you do get round to it.

  8. 23rd April 2018 / 9:41 pm

    I’ve been taking advantage of the bank sign up bonuses for past few months. Just switched mine & Mr2ps accounts to First Direct at the weekend to bag the £125. We have separate accounts specifically for bagging these bonuses.

    I need to investigate Natwest & Santander a bit more as we have Club Lloyds accounts so are going to drop to 1.5% in july – not happy!

    • 29th April 2018 / 9:23 am

      Nice work bagging the bank bonuses. Share your pain about Club Lloyds cutting their interest. I do like the perk of annual ‘lifestyle benefit’ cinema tickets though, we actually use those.

  9. 26th April 2018 / 3:22 pm

    Some really good tips here. I’ve already done the first direct switch but need to swap again to avoid there fee’s!

    • 29th April 2018 / 9:24 am

      Good call about making sure you avoid fees. Think you can actually avoid paying them by opening a savings account, if you wanted to stay with First Direct. Its customer service really is excellent.