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You have to pay in a grand per month, so you can take it out again the next day, along with the interest earned from the previous month.
There are a lot of accounts like this, but the problem is if you've already got a lot saved, there aren’t enough accounts available. This is why having three Santander 123s is so useful, even with the new crappy interest rate.
I guess savings accounts are only useful if you need instant access e.g. house deposit. I am thinking of putting some money in a 1-year fixed bond since I think rates are more likely to fall than rise in my expected house-buying timescale. Not sure though.
Does the Nationwide money not have to sit in the account? Or do you mean you have already maxed out £2.5k and just flow the money thought to meet the terms of the account?