UK Landlord Forum / Life

Hi,

Just after opinions/recommendations. I am a new landlord and want to set up a separate bank account to manage rental payments/outgoings etc.
What does everyone currently use - a regualr bank account or a savings account with unlimited withdrawals etc?

Thanks in advance.

Why would anyone ever care? I'm not being facetious... but don't you (surely you must?) have bigger things to worry about when setting-up? Why do you even want to set up a separate account in the first place? Do you see big progress coming your way? Possibly all a little overkill at this stage. Isolation of finances and separation of concerns are not big issues for you.

My wife has a Santander current account that pays a reasonable amount of interest (relatively speaking!) on balances up to twenty grand, as long as we pay in a minimum amount every month and have a few direct debits set up. It only makes buttons a year but it's a handy place to park the first-line emergency fund. As Hippogriff says, though, you don't particularly need a separate bank account: it's perfectly safe to chuck it in a mixed wash.