Retired penioner with Ј10,000 (Current Account)

A question about : Retired penioner with Ј10,000 (Current Account)

I am a retired penioner with Ј10,000, and am looking for a current account with interest,(with no funding every month or monthly direct debits) I am not looking for credit or overdrafts, just a debit card to access the account, can anyone advise please ?

Best answers:

• That's a huge amount to keep in a current account. Yes, you need a current account, but it's not the place to keep money over and above living expenses, money which should work for its living and grow.
  Mine is mostly in a S&S NISA.
• You could try Nationwide, they have online savings pots where you can easily move money between the low interest rate savings pot to the even lower interest current account
  Have debit card attached to the current account
  This is what I do with my rainy day money, bulk in the savings instant access pots, less than 1000 in the current
  Also a retired pensioner
• I have 2 Club Lloyds current accounts with Ј5000 in each. I transfer Ј1500 each month from one account to the other to meet the T&C. I use one as my main current account, which has the usual direct debits e.g. council tax, and the other has direct debits to Tesco savings accounts (Ј1 per month) again to meet T&C very easy to set up.
  I am a non taxpayer (just) so get the full 4% interest, which I move every month to another interest earning account.
  I also have a S&S NISA, but this is money I don't touch as obviously once it is taken out cannot be replaced.
  I don't know of a current account that pays interest without monthly funding/direct debits, but there are several that will pay Ј100 for just switching
  There are several other current accounts that pay interest, but they all need funding and/or direct debits.
• I know you don't want to have a monthly payment in but to get decent interest that's the best option.
  Nationwide Flex a/c pays 5% interest on Ј2.5k for 1st 12 months- has to be fed Ј1000 pm
  TSB Classic-you can have 2- pays interest of 5% on Ј2k in each. It has to be paid Ј500pm
  Neither have DDs but both need to be administered online. It takes very little effort to set up a SO to send Ј1000 from your existing account To each of the above a/cs in turn. The money only needs to lodge, say a day, and then move on! This way just over half of your loot would be gainfully employed and Ј4.5K would be earning 5% interest. TSB is paid monthly.
• You can have two TSB Classic accounts, and you may also want to look at diverting some money into Regular Savings. First Direct pay 6%.
  See the Savings and Investment board and Special Saver's lists.
• Thanks everyone for your valueable contributions, I think i'll plump for the TSB accounts
  Freddy
• We have opened a Santander 123 account for the interest purely for the interest. We put in Ј20,000 and the Ј38 interest gained outweighs the Ј2 charge.
  I moved most of our DDs for the cash back. There's no savings accounts paying anywhere near that.
  I haven't got my head around the moving game to maximise interest rates, but that is the next step.
• Agree Sue...lovely game, keeps the brain moving. I have most of the 5% and 6%, and now trying to work towards the Halifax, Ј100 bonus plus Ј5 gross p.m....almost Ј160 for the first year near enough free money.
• Excuse my ignorance - what's a "stop order"?
• Someone must know!