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Written 19th June 2025
Soooo, I've not mentioned current accounts yet. Well, not in detail.
I know a lot of people are loyal to their bank and have quite often been with them for donkeys years. I know I have. I opened a child's account for my son when he was young with my main bank and now as an adult he banks with them still. If it ain't broke etc.
And my bank has been around for many years and I'm happy with the service, accounts provision and the little perks I get with them.
But I do have and have had accounts with most of all the high street banks and building societies over the years. I have a good credit score and have been able to utilise good regular savings accounts interest rates, or switching bonuses or cashback on my bills or a high interest rate on small balances up to a certain amount through checking the market and being proactive.
All these little 'tricks' have added up to quite a few £s over the years, in return for just a little time researching accounts, opening and closing accounts or transferring money around to meet minimum monthly deposit criteria.
And whilst not princely sums individually, add them all up and they'll have paid for my car tax or some new tyres, or a cheap holiday or a months shopping....
So yes, in my opinion it was time well spent.
Are you getting anything from your current account provider? Why not check online to see what other providers offer? Don't forget the banks make money from holding your money with them so see if you can get a return on your investment.
I pay a £3 monthly fee for my current account but get cash back each month and normally get between £5 and £6 a month back. That's nearly a 100% return on investment in a good month.
It's not a lot I know, but it all can be spent or saved so it's worth it in my opinion. If you are on minimum wage, that's nearly 15 mins work you didn't have to do to earn it.
Proactively moving your money to where it is treated best is a massive win for your wallet. Head over to the Daily Allowance Calculator to see exactly what you have left to spend or save each day after your bills are cleared, and start driving every single penny straight onto Team Me today.