spreading my savings

C

cityfella

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I recently placed 10k into a rabodirect savings account and I am thinking about opening a First Active online savings account where I am planning to place 15k.

After that, I am considering opening a regular savers account with halifax or the like.

By planning to open different sets of savings accounts, am I exposing myself to uncessary bank charges and taxes ? Or am I being wise by not placing all my eggs in one basket ?

City fella.
 
Last edited by a moderator:
Neither the FA or RaboDiret savings accounts have charges. Spreading it around is a good idea in case one of the banks goes bust or has operational problems that prevent you logging in to withdraw money. The two banks mentioned have amongst the best credit ratings so there's very little risk. The deposit guarantee scheme would also protect most of your savings.
 
Thanks Folks for the speedy replys.

Your advice and opinions are greatly appreciated !
 
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