Question about current/saving accounts

quicksort · 13 Jul 2008 at 10:52

I currently have a student account with Natwest which I think is a normal current account. I have few thousand pounds in there which is just sitting there and is not going to get spent anytime soon.

Would it be a good idea to open some kind of savings account and transfer the money over? - is this going to pay a significantly higher interest rate than the student account? ( I already have an ISA open)

quicksort · 13 Jul 2008 at 11:09

I haven't moved funds over yet. Is it better to stick with the Natwest ISA or should I look around for better interest rates?

quicksort · 13 Jul 2008 at 11:16

I'm looking at the Natwest e-saving account which pays 4.3%. I start a job soon so would it be a good idea to open an e-saving account and then get my salary paid into this account?

This is an online account so what drawbacks does that hold?

quicksort · 13 Jul 2008 at 11:27

Are there any drawbacks with these "online" accounts such as the natwest one? What makes them different from normal bank accounts (such that they pay far higher interest rates)

quicksort · 13 Jul 2008 at 11:31

Can I still use it as the account that my salary gets paid into?