Best savings account?

Currently have an advocate who holds an account for me where all my benefits go into and pays all my bills

Moving forward id like to look after it all myself. Which is the best and most secure savings account for me?
By secure I mean any which have good security for the online banking
Lloyds and TSB are the ideal ones as they have branches near me

All banks have to follow the same rules, so in reality there all about as secure as each other.

Do you need a savings account with a branch or is an online only one fine?
Do you need to be able to take money out your savings the same day? Or can you leave it in for a day or more when you need your money out?

Oh and, just to check. Are you looking for a savings account to save money (not pay bills), or a current account to pay bills?


A branch would be ideal so that leaves TSB or Lloyds
I’d need to bank transfer money once a month into my monzo which I use for everything
And yes, an account to save money

Thanks :blush:

If you want a branch, out of TSB and Lloyds i would be going for Lloyds. There’s nothing necessarily wrong with TSB but there still teething a bit i think from the issues they’ve had in the past. You’re not going to get much of a great rate in terms of interest (a Marcus savings account or maybe one of the Monzo partners would be better for that).

It might also be worth considering if you want a branch to pay in cash, lots of banks also use the post office (with no fee) for paying in cash. However if you want a person and branch to talk to, Lloyds is pretty good.

As for which savings account with Lloyds, you’re probably just looking at their standard “Easy Saver” nothing special, 0.2% interest so its really just a hold for your money (you might just want a current account with them?), but it offers internet, phone, and branch banking.

(also worth talking to them perhaps, as they may have better options for your particular needs)


Thanks dude
Not interested in interest just a nice secure account

Come to think of it I may have a Lloyds from years back when I had mental health issues and may have problems with it.
Now that I’m well and responsible id rather go with TSB as its a new fresh start for me

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Stick it in a Monzo interest bearing pot, then. Easily accessible, easily visible, safe as any other institution.


I have a friend who uses TSB and they’ve not really had many issues with them. For the problems they have had those will get better (they have partially already), so there a perfectly fine bank (minus the issues they had in the past)


Cool thanks
So for receiving my benefits and once a month transferring money to my monzo I should be OK?

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Possibly. But do you normally receive benefits to a savings account? You could probably just get them into your Monzo account directly if you wanted to.

If you cant get benefits sent to a savings account directly (i honestly don’t know) you might have to open a current account with TSB if you still want a physical branch. they could probably give you the advice you need on what you should open if you ask.

Not 100% sure what type of account my advocate holds for me but yes come to think of it I could have it paid directly into my monzo yes

To answer your question, i have had benefit paid into a savings account in the past

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There is no limit to how many savings account you can have is there?
I do have a Barclays but they have no branches where I live

I’ll get down to tsb tomorrow and see if the savings account suits me.
I’d rather have the benefit paid into my savings so I can transfer money over each month

First direct hands down

5% if you can leave it for a year

Otherwise actually Monzo pots are pretty good

It completely depends on what savings you have, how often will be getting new savings and what access you need if you want to get at them.

As mentioned you have Marcus which does 1.5% easy access, or something like First Direct which can give you a max of £97.50 paying in £300 each month, but you’ll need to wait the full 12 to get that amount.

This is a benefit of a savings account you are earning a little bit of money which reduces the impact of inflation by holding money.

Also there are all secure, if you have more than £85,000 in savings then spread them over multiple banks to make sure you would never lose the money if the bank went bust.

Thanks guys
After some reading the tsb saving account can’t make bank transfers to any account other than tsb which is pants.

Looks like Ill have to get a current account with them

I go and see them tomorrow morning and find out

@Venomx I’m not quite sure why you are focusing on a savings account. You would normally receive income into a current account rather than a savings account. So either Monzo, Lloyds, or TSB would be fine for receiving your benefit.

If you do want to have access to a branch account to use alongside your Monzo account (not a bad idea as there are some limitations to Monzo on its own), of your two options I’d be inclined to go with Lloyds, simply because of the IT issues TSB had recently.

However, if you do decide to go with TSB it’s worth pointing out that if you qualify for a Classic Plus Account (one of their current accounts) you can earn 3% interest on money held in that account. To qualify you need at least £500 going into the account every month.

Also, if you have a friend or family member who is a TSB customer, ask them to refer you to TSB. You can both earn £75 if you switch your old Barclay’s or Lloyds account to TSB (I’m assuming you no longer need either of them)

If you don’t know anyone personally who could refer you, feel free to DM me as I could refer you as I have a existing account with them.


If you’re being paid in cash and need a physical bank then just open a Starling account and pay it in at the post office for free and then transfer to whatever Savings account (s) you have like Marcus. There is no need for having a legacy unless it’s a condition of having their saving account.

Thanks @o99
I’ll get down there tomorrow and discuss a current account then.

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Wouldn’t touch TSB with a bargepole. :crazy_face:

I also wouldn’t recommend them, as mentioned in my earlier post.

But if @Venomx does decide to go with them, he might as well benefit from their perks.