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Sainsburys 6% Internet Saver

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After upping their rate on 17 May 2007 to 5.75%, Sainsburys have hiked it up over the weekend to 6% gross, even higher than Icesave. I have 3 of these accounts and can recommend them for being easy to set up, easy to use and with good customer service. No minimum balance, instant access and I believe you can have up to 20 accounts with a total of £2 million (so that will just about do me :D) Well done Sainsburys! :beer:
Life is not a dress rehearsal.
«13456724

Comments

  • Old_Slaphead
    Old_Slaphead Posts: 2,749 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    The spiel says you've access to cash throught your nominated accounts.

    How many nominated accounts can you have?
  • savingforoz
    savingforoz Posts: 1,118 Forumite
    Hmm, it doesn't seem to cover that point, so am not sure...but it does say "accounts" plural, so looks like you're not stuck with just one nominated account. I see it's now 10 accounts you can have, not 20, but that's still enough for most people, I'd say.

    You can also pay money in at Sainsburys branches too, as well as via transfers from other accounts.
    Life is not a dress rehearsal.
  • Dagobert
    Dagobert Posts: 1,625 Forumite
    Who do they use as a clearing bank? Alternatively: what's the sort-code for BACS payments?
    Dagobert
  • savingforoz
    savingforoz Posts: 1,118 Forumite
    Sort code is 126060 - it's via Sainsburys Bank.
    Life is not a dress rehearsal.
  • savingforoz
    savingforoz Posts: 1,118 Forumite
    It's definitely 126060, perhaps they do link up with RBS for the banking function - who klnows. Anyway, it's a good rate and a good service.
    Life is not a dress rehearsal.
  • Milarky
    Milarky Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    Starting '12' is Bank of Scotland ('BOS') not Royal Bank of Scotland ('RBS')

    This Sainsburys Bank is part of a partnership with Halifax/HBOS/BOS in other words

    http://en.wikipedia.org/wiki/List_of_Sort_Codes_of_the_United_Kingdom
    .....under construction.... COVID is a [discontinued] scam
  • butterfly72
    butterfly72 Posts: 1,222 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Car Insurance Carver!
    I might get this account. I have the HSBC 6% saver but of course you can loose interest if you need to withdraw. Also, this account reckons it'll stay above the market leaders til 2010.. i think?
    £2019 in 2019 #44 - 864.06/2019
  • Dagobert
    Dagobert Posts: 1,625 Forumite
    How many nominated accounts can you have?
    On each account you may choose up to 19 pre-nominated accounts. You must hold any pre-nominated accounts with a bank or building society which is part of the UK clearing system.

    It does not say whether these have to be cheque-book accounts. Also, I do not know whether they can be building society accounts where your a/c no is the reference no.
    Dagobert
  • mary
    mary Posts: 1,585 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Can you set up a SO from the account?
  • KTF
    KTF Posts: 4,848 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Probably not as its a savings account. You should be able to setup a standing order from your bank account to the savings account though.
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