Bradford & Bingley Internet Saver A/C

If , like me, you were one of those who acted upon Martin's recommendation in the 26/9/07 email and opened a (limited edition} 6.4% Bradford & Bingley Internet Saver A/C, you are probably aware that, following the 0.25% reduction in the BofE Base Rate, your savings are now earning only 6.15%.

However, Bradford & Bingley are now offering 'Internet Saver 2' with, would you believe, a 6.4% rate! Annoying or what?

OK, time to switch - move your money out of the Internet Saver A/C (now called Internet Saver 1) into a new Internet Saver 2 A/C.

I asked B&B whether that would be possible and, surprise, they replied with exactly how to do it. Here's how:

If you would like to open a new Internet Saver 2 account with funds from your existing eSavings account, you may do so by following the below instructions:

1. From our home page at www.bradford-bingley.co.uk, click on the Online option which can be found towards the bottom of the screen under the Savings heading.
2. Click on the Info button which is located next to the Internet Saver 2 heading.
3. This page displays all the information about this account. If you are happy with this, you can click the Apply Now button towards the bottom of the page.
4. You will be taken to the secure application form which will ask you for your personal information as well as information about opening your account. Simply follow this form through and fill in the information requested.
5. On the first page of the application your existing account number will be requested, please enter the seven digits which are located in the middle of your thirteen-digit account number. If you have more than one account number, please enter the one attached to your newest eSavings account.
6. Later on during the application you will be asked how you would like to fund the account. There is no option to choose to fund the account using money from your eSavings account, however if you select the Cheque option and enter a value of £1 it will allow you to continue with the application process. Please note that this will not mean that we require a cheque from you, this is simply a requirement in order to be able to continue with the application.
7. Once you have completed the application your new account will be matched up to your existing user ID, and providing there are no problems with your application, your new account will be available to view within four working days.
8. Finally you can move your funds across to your Internet Saver 2 account by logging in to your existing account and selecting Money Out. In the list of destination accounts you will see your new Internet Saver 2 account number (starting with 20B). If you choose to move the whole balance of your account then the confirmation screen will ask if you are sure you wish to close your account. Leaving the box ticked will close your account and transfer any accrued interest over to your new Internet Saver 2 account.

If you have any further queries please do not hesitate to contact us on 0845 601 7802. Our office is open 8am until 8pm Mon - Thurs, 8am - 6.30pm Fri, 9am - 5pm Sat and 10am - 4pm Sun. Alternatively, e-mail us at [EMAIL="enquiries@savings.bradford-bingley.co.uk"]enquiries@savings.bradford-bingley.co.uk[/EMAIL].

Yours sincerely

Paul Dent
eSavings Unit

OK, it's not easy and, for an extra 0.25% interest, it's only worth an extra £2.50 p.a. on each £1000 in the account but .......