Another point to bear in mind, jdeez, is that 0.1% of say £35,000 is £35. So if you find other accounts at 6.9% instead of 7.0% then the difference in your interest would be £35 per year before tax. Not a massive sum. So the advice you had about sprinkling your money around in several accounts is good, I would say. The downside is the paperwork -- proving that it didn't all come to you from some unnamed geezer in the Cayman Islands (or did it?!)