Stoozing

Santander is a good account, especially when you are playing the games that we do with other accounts, I think you need a large account when you've got potentially big balances sitting there waiting to go into your new Lloyds club account, or one of your regular savers (and you want 3% while its waiting to go).

Anyway, can I draw your attention to energy company Ovo - who pay 3% on any surplus balance held by themselves, and who allow you to alter the direct debit amount via their online platform, *and* allow you to request overpayments straight back again online. Lets say you decide to pay £300pm for your energy, thats £9 cashback in Santander every month --equivalent to 36% interest on that £300 ! and more than covers the £5 santander fee

it's a good point, in both respects chickenboy..
i am long gone from Santander, but now i have a bigger stoozepot i could actually use that 3% helpfully.
not really in a position to utilise the Ovo idea.. but it's a good one

chickenboy wrote:I think you need a large account when you've got potentially big balances sitting there waiting to go into your new Lloyds club account, or one of your regular savers (and you want 3% while its waiting to go).

That's what I was looking at, whether it was worth keeping money in santander. Their £5 hides their real interest rate.
As mentioned in earlier posts I hadn't realised on the amount of BoS and Tesco accounts to be had, I see it is on MSE, but I tend to skim that site now, as I can come here and get the real picture.
Their diary for setting up SO was 'interesting' and should be read in a Geordie accent.

chickenboy wrote:Santander is a good account, especially when you are playing the games that we do with other accounts, I think you need a large account when you've got potentially big balances sitting there waiting to go into your new Lloyds club account, or one of your regular savers (and you want 3% while its waiting to go).

Anyway, can I draw your attention to energy company Ovo - who pay 3% on any surplus balance held by themselves, and who allow you to alter the direct debit amount via their online platform, *and* allow you to request overpayments straight back again online. Lets say you decide to pay £300pm for your energy, thats £9 cashback in Santander every month --equivalent to 36% interest on that £300 ! and more than covers the £5 santander fee

Chikenboy.

Do you actually do this. I have looked at OVO in the past and in their T&C's it says.

1.7. “Flexible Direct Debit” means paying by direct debit, where you are allowed to set the amount of your direct debit between 75% and 150% of the Recommended Direct Debit.

So for me that would equate to a of max plus £3 from Santander, which doesn't cover the extra cost in the tariff.

i'll be interested in your response too, chickenboy..

I have 2 properties with Ovo. One I pay £300pm, the other I pay £150pm on! It works

Good work then. I wish I was paying for utilities now
How competitive are Ovo?