Online Banking

[jennyjoan]

I have above and was wondering could I have my ISA account on it as then I can transfer what I can afford when I want.

If I can - I know we have been through this before - is the money better in 123 Santander or should I transfer to ISA - thanks.

[SirOracle]

Mine has ISA account on my banking site. But I am not with Santander.

No one but you can answer your second point.

[boxtops]

We don't bank with Santander but we do do online banking, and yes, we can transfer between accounts on-line, as and when we need to.

If you are a taxpayer then money (IMO) is better in an ISA, you can now put in up to £15K in this financial year without paying tax on the interest.

[Sipowicz]

To many variables to give a definitive answer, depends on your personal circumstances. Some good info' here.
http://www.moneysavingexpert.com/savings/best-cash-isa

[hc4361]

Show my an ISA that can beat Santander's 3% on 20k, even after tax that is paying more than any ISA I can find

[Sipowicz]

To be fair hc, Martin Lewis says the same. I have the 123 account, I'm very happy with it.

[Sipowicz]

If you've got more than £20,000, still need a high interest ISA, or should I say NISA!

[hc4361]

Sipowitz, Santander allows each person to have one single and one joint 123 accounts, so a couple could have £60k earning interest between them.

The used to allow one person to have two single accounts but stopped that just after I got my second account

[Sipowicz]

Yes, but don't you have to have a minimum paid in every month? And a minimum of direct debits going out? On each account!

[hc4361]

You do, but that's easily sorted. Get your salary paid into a different bank (Nationwide in my case) and set up standing orders to be paid each month in to each 123 account. Split the usual direct debits such as council tax, gas and electricity, house insurance, car insurance, water rates, credit card bills, telephone, mobile phone, broadband etc and it's sorted

[jennyjoan]

thanks for your advice.

[boxtops]

You've got to be very much on the ball to be able to keep on top of that lot, though - I'd rather keep it easy.... and I guess so much depends on how much you are saving overall, £20K souns a great deal to some people to have saved up.

[jennyjoan]

LOL at Boxy - 20k is a great lot to me - no deffo not that amount and I am going to have take 2,000 probably out for me teeth.

[hc4361]

You have to pay the right direct debits with the 123 account as you get cash back on some, which more than pays the £2 a month fee for me.

I know what you mean about being on the ball, boxtops. I usually change my energy provider and insurance providers every year. I forgot the breakdown cover, too. If I didn't keep careful records I'd have no idea who I was with :D