Is 12 bank accounts excessive Watch

niteninja1
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#1
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I have 12 accounts across 6banks is that too much
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Casisalive
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No
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kkboyk
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Why that much though???
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niteninja1
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(Original post by kkboyk)
Why that much though???
Interest
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Maid Marian
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It's quite a lot but if you can keep up with them all and are getting interest then why not?
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the bear
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no you are really restricting yourself by only having 12.
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A321
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I just about manage two. :eek:

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Withengar
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One is ideal, two is manageable, three is pushing it....and twelve? At twelve you have a problem. Consult your psychiatrist.
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Maid Marian
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(Original post by Withengar)
One is ideal, two is manageable, three is push it....and twelve? At twelve you have a problem. Consult your psychiatrist.
Actually, it's wise to spread your money around.
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gino0753
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(Original post by littlenorthernlass)
Actually, it's wise to spread your money around.
12 is excessive I have two debit cards and one credit card
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niteninja1
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(Original post by gino0753)
12 is excessive I have two debit cards and one credit card
I have a HSBC current account
HSBC saver
TSB current account 3% on1.5k
TSB e saver
TSB everyday saver
Santander student 3% on 2K
Nationwide 5% on 2.5K
NatWest savings builder 1.5%
Tesco bank 3% on 3K
Halifax everyday saver
Halifax help to buy isa 4%
Halifax black credit card 0% up to a £1000
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Sternumator
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I don't know whether that is looked down on by creditors. Your credit report will certainly look a bit complicated.
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Rakas21
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(Original post by niteninja1)
I have a HSBC current account
HSBC saver
TSB current account 3% on1.5k
TSB e saver
TSB everyday saver
Santander student 3% on 2K
Nationwide 5% on 2.5K
NatWest savings builder 1.5%
Tesco bank 3% on 3K
Halifax everyday saver
Halifax help to buy isa 4%
Halifax black credit card 0% up to a £1000
Do you have the interest rate information for those without the information?

I'd dump the Natwest Savings Builder since i would not save in an account paying less than 3% interest. Go for corporate bonds.
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2944572
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Are you okay?
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niteninja1
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(Original post by Sternumator)
I don't know whether that is looked down on by creditors. Your credit report will certainly look a bit complicated.
My credit rating is 5/5
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Sternumator
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(Original post by niteninja1)
My credit rating is 5/5
I suppose quite a lot of those are savings accounts that wouldn't show up on a credit report.
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Sternumator
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(Original post by Rakas21)
Do you have the interest rate information for those without the information?

I'd dump the Natwest Savings Builder since i would not save in an account paying less than 3% interest. Go for corporate bonds.
1.5% is still good for a risk free investment. Of course you get better returns with corporate bonds but you have to take on risk to do it.
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yudothis
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(Original post by littlenorthernlass)
Actually, it's wise to spread your money around.
Not really. Are you expecting another Northern Rock?
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Jennie1987
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(Original post by niteninja1)
I have 12 accounts across 6banks is that too much

I have 13+ so you're actually underachieving
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yudothis
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(Original post by Jennie1987)
I have 13+ so you're actually underachieving
I only have two, but each in a different country. Beat that.
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