To keep my current account balance near zero for security?

[WarmPearlCrab]

Would I be mad to keep close to £0 in my current account, move everything into savings on payday and then transfer money back only when I need to spend?

Part of this is security - I worry about card details being compromised or fraud and it feels safer having most of my money sitting in savings rather than easily accessible. My thinking is to just keep a small amount in my current account for day-to-day spending and top it up as needed. It would be a bit of a faff moving money around but not enough to outweigh the peace of mind.

AIBU?

I do this just for budgeting purposes - one week at a time!

This is how you should be doing things anyway, your money is more efficient in savings.

I keep just enough to cover DD's. The rest is in a saving account and I use a CC for everyday purchases which is paid off every month. CC is much safer when using it daily. It also provides reward points.

I don’t think it’s necessary. If your card details are compromised as long as you haven’t given your pin to someone or transferred money to a scammer the bank will have to refund

It does make sense and many banks will warn you if you are keeping too much in your current account (or at least they used to).

But there are obviously limits as to how far you should go with this.

Unless you want to spend all your time online switching money backwards and forwards.

Most banks do have things like limits on them anyway, for example my bank allows you to set a maximum limit that can be transferred out per day, or max per transaction.

Don't have your savings with the same bank. If a hacker/scammer got access to your current account then they have access to your savings. Different bank, different log ins (obviously).

I only keep small amounts in my current account, enough to cover that week’s DDs and food and any other anticipated expenses. I keep a very close eye on my account through the banking app, so just transfer as and when I need to.