A thread here from earlier that may also offer some help, it contains advice from our : - Felicity King-Evans, Deputy Site Editor.

felicity.king-evans 'at' moneysupermarket.com (remove spaces, use @)

http://www.moneysupermarket.com/community/forums/t/advice-re-best-place-to-put-my-savings-440.aspx

davvy 71:

DEFINATELY.

Most banks with tiered interest rates will offer their top rate for much less than £50k. Said top rate not good rate unfortunately though 1 year (and longer) fixed rates are looking better at the moment.

yes split between 2 totally different banks/building societies. Be careful though as for example Halifax are now part of Lloyds Banking group, so if you had say £10k in Lloyds and £50k in Halifax, only up to £50k would definately be covered. Also think about cash ISA's which are also covered by the protection scheme.

huckster

will shortly have over 50k to invest, will have for over a year, wanted to keep it together in one account but concerned that only £50k protected under financial protection scheme, so would you advise it best to split it and keep balance over the 50K in another bank?