How much is in your current account right now? Watch

Runninground
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#101
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#101
(Original post by white boy)
(Original post by yo radical one)
Why would you put savings in a current account? :confused:
not a clue mate. they're either not financially savvy or are misreading the question.
Lots of current accounts are offering higher rates of interest at the moment. I've got 4 current accounts open which all earn between 3 - 5%... Savings account I have only gets about 1.5%

(Original post by morgan8002)
18 years old plus. I hate how much age discrimination there is in the financial sector.
It's not discrimination, it's legally being allowed to enter into a contract. If you're under 18 you can't, so they aren't going to open an account for you if you can't agree to a contract.

(Original post by BBeyond)
Not really, I just have the money I can spend in my current account, and the rest in my savings accounts, I'm not that desperate to earn the extra £10-30 on interest or whatever it would be.
Each to their own I guess, but you're missing out... I have 3 accounts earning 5% interest which will pay me £260ish net which is pretty good for not having to do anything.

And if you leave your money in a non interest bank account it will lose it's value...
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morgan8002
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#102
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#102
(Original post by Runninground)
It's not discrimination, it's legally being allowed to enter into a contract. If you're under 18 you can't, so they aren't going to open an account for you if you can't agree to a contract.
And if you leave your money in a non interest bank account it will lose it's value...
I understand the problem eg. A five year old walks into a bank and gets locked into a two year ISA where they have to pay in £500 each month.

What I'm talking about is 16-17 year olds just trying not to lose a huge amount of money to interest. Anyone can open a bank account. A child's savings account will pay 0-3% interest(3% if you're extremely lucky and have just the right amount). The major difference between a child's and adult's saving account is the interest rate(easily 4-6% with not much looking). The point you've given would be valid if they accepted parental permission to open the account.
As they don't accept parental permission, it's just plain discrimination, giving some people one interest rate and others a different interest rate.
What if they assigned interest rates based on gender or ethnicity? That would immediately be seen as unfair.




Also accounts with a low interest rate will lose value.
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PenguinEmperor
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#103
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#103
(Original post by morgan8002)
I understand the problem eg. A five year old walks into a bank and gets locked into a two year ISA where they have to pay in £500 each month.

What I'm talking about is 16-17 year olds just trying not to lose a huge amount of money to interest. Anyone can open a bank account. A child's savings account will pay 0-3% interest(3% if you're extremely lucky and have just the right amount). The major difference between a child's and adult's saving account is the interest rate(easily 4-6% with not much looking). The point you've given would be valid if they accepted parental permission to open the account.
As they don't accept parental permission, it's just plain discrimination, giving some people one interest rate and others a different interest rate.
What if they assigned interest rates based on gender or ethnicity? That would immediately be seen as unfair.




Also accounts with a low interest rate will lose value.
I always found below 18 accounts gave highest interest rates, than what my parents got, My Parent's ISA gave about 4.5% whereas mine gave 6% which was extremely good in the most recent years up to now with 1% inflation.
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morgan8002
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#104
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#104
(Original post by Penguinfarts)
I always found below 18 accounts gave highest interest rates, than what my parents got, My Parent's ISA gave about 4.5% whereas mine gave 6% which was extremely good in the most recent years up to now with 1% inflation.
No, nowadays you won't find one above 3%.
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PenguinEmperor
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#105
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#105
(Original post by morgan8002)
No, nowadays you won't find one above 3%.
I got mine 2 years ago, though I did just check and they only offer 4% now in that ISA.
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SarcasticMel
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#106
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#106
Enough to need to look at some better investment options.
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morgan8002
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#107
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#107
(Original post by Penguinfarts)
I got mine 2 years ago, though I did just check and they only offer 4% now in that ISA.
Which one?
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si82
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#108
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#108
(Original post by i.am.lost)
Your current account should have no more and no less than what you need to get you through until the next paycheque.

The rest of my money is in an array of regular saver accounts, stocks and shares investments, index tracker funds, ISAs, and foreign currency accounts.
Disagree;
People should ideally have a minimum of 3 months income in a current account or safe readily available for life's unknown eventualities
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IanDangerously
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#109
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#109
£376.07

There's some rich people on this thread! Haha wish I had that kinda money
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Castro Saint
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#110
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#110
Student loan dropped... I now have £2.8K
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mojojojo101
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#111
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#111
£-392.56. I haven't had a positive balance since like... September...

I do have 3p in my savings account though, so good times!!!
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Frostyjoe
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#112
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#112
Um a few thousand pounds which is all my own money btw. Not that much.
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Frostyjoe
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#113
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#113
(Original post by namename)
You are rich. :eek:
Well I have a few thousand and i'm not rich. I just budget my money well and save like £300 a month.
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i.am.lost
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#114
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#114
(Original post by si82)
Disagree;
People should ideally have a minimum of 3 months income in a current account or safe readily available for life's unknown eventualities
Pretty much all ISAs are instant access, with the vast majority incurring no penalties for withdrawal. Even many normal savings accounts are like that now too, there's no reason to be sticking to current accounts for emergency funds.
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bighouse911
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#115
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#115
-£1600

graduate account............
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