Can you recommend me a current account?

[Inheritancequestions]

I want to open a current account to receive some inherited money. This will be small amounts for now (max a few thousand in the coming year) but will be more when we get probate.

I already have a joint current account with DH which is used for all bills etc so I won't be making routine payments from this new current account. In case it's relevant, I don't currently pay income tax and I have the max invested in an ISA for this year already.

Can anyone recommend a current account that would give me as much interest as I can get on the money in it, given that I won't be paying in on a regular basis and I won't be making regular bill payments out of it.

Chase has a linked savings account (v v easy to move money between that and the current account) paying 4.5%

Or look at Money Saving Expert. A cash isa might well be a better bet for some of it.

Thanks - I'll look them up.

https://moneyfactscompare.co.uk/current-accounts/high-interest-current-accounts/

This may be useful if you're still looking.

Thank you, @ConBatulations

it'll deoend on the amount - some current acconts have a good headline rate hut cap it at eg £5k balance.
have you asked your own bank what they would give you on a term deposit?

when you say you don't pay tax - is that because although you're reisdent in the uk for tax purposes you dont earn enough to pay income tax?

@Mulledjuicei hadn't thought of asking my bank - good idea.

I don't pay tax as I'm a full-time caregiver, not employed.

Premium Bonds? My friend just won £100k

ok - but youre a UK resident for tax purposes so that's good.

if you're not going to need much in the way of services and just need the best interest return then you may want to have it in savings. Just beware of going over the deposit protection limit with one provider.

There is a temporary increase in the FSCS limit for 6 months after receiving an inheritance to £1.4M although that amount may exceed the maximum deposit allowed by a financial institution. NS&I direct saver is protected with a maximum balance of £2M.

That is really useful to know about - I had started thinking about how to make sure we didn't go over the FSCS limit.