FabSwingers.com forum: Best current account offering interest.

By (user no longer on site) OP
over a year ago

Hi,

I currently bank with Nationwide, when I joined them, I agreed to pay a monthly fee of £12 but would receive at least half of this back in interest. They no longer pay interest on current accounts. I had never previously paid any fees for a current account but this deal, as well as the interest, give me breakdown cover, travel insurance, mobile phone insurance, etc.

I am now looking at changing my current account to one that offers a better deal. I would be interested in hearing of any good deals out there!

Thanks

Sam

By (user no longer on site)
over a year ago

Look on Martin Lewis Money Man website he puts all the up to date accounts on there

By *ategoodbyeMan
over a year ago

Hertfordshire

Make sure you’ve paid off any debts first, if they charge interest. You can also overpay any mortgage you might have, if you don’t need the money back.

By (user no longer on site)
over a year ago

Good shout. My rule of thumb is unless you have a decent amount of savings then frankly looking to save on fees (inc a monthly one for a premium account) often yields better results that earning on interest…. Frankly, a basic free bank account (assuming you don’t use your overdraft) and NI savings account is rarely beaten for joe average

By (user no longer on site) OP
over a year ago

"Look on Martin Lewis Money Man website he puts all the up to date accounts on there

Thanks, that's a site that I use too.

By (user no longer on site) OP
over a year ago

"Good shout. My rule of thumb is unless you have a decent amount of savings then frankly looking to save on fees (inc a monthly one for a premium account) often yields better results that earning on interest…. Frankly, a basic free bank account (assuming you don’t use your overdraft) and NI savings account is rarely beaten for joe average "

Thanks. Yep paying a fee was new to me and worked financially when they paid interest, but not anymore, hence time for a change!