Hi I have opened a Cahoot interest paying current account and a Cahoot savings account and transferred all my direct debits to the interest paying current account. What I have not done is to transfer my wages to the Cahoot account, they are still paid into my RBS interest paying current account. For some strange reason I like a bank account with a branch office that I can pay cheques/cash into. I also have telephone banking with this account which I do not have with Cahoot
Therefore every 4 weeks when my wages are paid I transfer the money to my Cahoot account leaving a balance of about -99 in my account. (100 fee free overdraft with no interest)
I am quite happy with this but was wondering how much I am losing in interest when my wages disappear for about 4 days every 4 weeks? Or is it so minuscule it is not worth bothering about?
Thanks Jackie