Savings

[codswallop]

I have a small savings a/c in Lloyds,what is the procedure for opening another a/c ie in Barclays so that I can move my money between the two to get the best interest??Thanks!!

[ubasses]

Just walk into the Bank/ Building Society with proof of I/D and address and complete the paperwork. Get registered for internet banking and you can transfer between accounts on line.

[factor-fiction]

Step one- apply to open an account with Barclays
Step 2- take it from there
Is Lloyds an online account?


If savings are small I doubt you can gain much from moving moneyy around while rates are so low

[codswallop]

Thanks everyone for your replies!!

[dzug2]

On most accounts interest is <calculated> daily and <paid> monthly or quarterly or yearly. So if you withdraw part way through you get a proportion of the interest for that month, etc

There's few accounts (I can't actually think of any) other than notice accounts where you can lose interest in this way

DYOR is always good advice though

[factor-fiction]

DI'm not up to speed on these abbreviations- is it Do Your Own Research?

[dzug2]

yes it is

[gingejbee]

"to get the best interest" - you won't have savings with either Lloyds or Barclays. You'll need to look elsewhere - not the High Street.

[codswallop]

Thanks again everyone I do appreciate that you have to shop around and the penalties involved when you change.But it was the method of how you set up an online account that's "interchangeable" with my other a/c is what I was looking for, as some replies gave.