The Top Instant Access Savings Discussion Area

[Wendell Pierce]

Originally Posted by rb10

You seem determined to make this difficult for yourself!

Not really, I haven't done anything strenuous.
When my present savings rate finishes I will either transfer my balance into my current account then into a new Nationwide MySave at 2.25% or follow your info and just open a new savings account with HBOS at 2.05%.
I was only commenting that I won't be contacting a local branch, if HBOS wants to continue sending me seven statements for defunct savings accounts with a few pennies in them, and one statement with a £1 in it every year thats up to them.
If they just had informed me the interest rate on my present savings account would drop from 2.30% to their best rate currently of 2.05% I would have left my balance where it is.
Dropping it to 1.80% seems a bit pointless, it just means I either open yet another account or move my money elsewhere.
Maybe if somebody from HBOS reads these threads they might think hang on, we are just annoying people for no purpose.
Then again perhaps my reaction is not typical and HBOS may know what they are doing.
I will probably end up staying with HBOS, but then again I may not.

[ArtyH]

Recently retired so have time to manage my finances now.
Missed out on a few months higher interest from a Santander esaver account which was my fault for not keeping track of it, however a few decent banks/building societies now contact the saver and inform them when the end date is near.
No such luck with Santander .
So after looking around I went for the West Brom B/S which is currently giving savers a massive 2.52% ( Oh I.C.I.C.I where is your 7% interest rate now ), truly shocking but the best I have found. You can take money out 4 times a year without penalty so not too bad in this political climate of poverty.

[LG88]

All,

Need some help! I have had a First Direct Regular Saver (8%), and its coming to its one year anniversary next week, and will be transferred to its Savings Account (0.05%) , so I was planning on transferring it back to my current account, and investing it elsewhere.

Any tips on where I could put it into next? I have current accounts with FD, Santander, Halifax, and IF, if any of those have associated savers that have good rates for a year?

I was appealed by the Cheshire BS Regular at 5%, however it’s a branch only account, and I don’t live in that area, which is a shame.

Any tips would be much appreciated.

Cheers, LG

[KTF]

You can also open another FD regular saver.

[Mr. H]

regular savers are a useful, but if you have a lump sum to save don't forget to put that lump sum into an account that has a decent rate.

If you don't mind jumping through the hoops of monthly money transfers, it seems the best instant-access rate you can get at the moment is with Lloyds Vantage current accounts at 3% (assuming you have the required amount to save). Otherwise you're looking at about 2.5%. But that's still better than leaving the lump sum in a current account paying 0.1% or 0%!

[steve6375]

Martin is saying that M&S is top for fixed interest savings (e.g. 1yr at 3%) but M&S site is offering 2.3%??? Has the 3% now finished?

[I-LOV-MONEY]

Originally Posted by KTF

You can also open another FD regular saver.

Remember with a regular savings account you only actually get the advertised rate of 8% on one month's investment.

Month 1 invest £100 for 12 months
Month 2 invest £100 for 11 months (8% / 12 * 11)
Month 3 invest £100 for 10 months (8% / 12 * 10)
....
Month 12 invest £100 for 1 month (8% / 12 = .666%)

If you can afford a lump sum investment (preferably at fixed interest) is much better.

[DragonQ]

Or just drip-feed your money from a good savings account into the regular account to maximise interest.

[Gromitt]

Originally Posted by I-LOV-MONEY

Remember with a regular savings account you only actually get the advertised rate of 8% on one month's investment.

If you can afford a lump sum investment (preferably at fixed interest) is much better.

Show me where I can get 4.2% on a 1 year investment (the equivalent you'll need to match it) and I'll happily put my money there instead of FD's Regular saver, but I don't think its possible, so therefore its actually better than a lump sum investment. Plus of course, the rest of the cash will be in an account gaining ~3%, so the end result is far better.

[MikeMcr]

Originally Posted by rb10

Just write a letter asking to close accounts with account numbers A, B, C, etc. Put it through a branch letterbox or post it to them. Quick & easy.

You don't need to write to the branch; write to the head office as detailed on the "Contact us" section of their web site. Then list the sort codes and account numbers you want to close along with details of an account to transfer any interest to.

I have been doing that for years with Halifax and Lloyds and it works fine. Less hassle than a telephone or branch visit.

[qualitynet]

I have a saving account and has ATM of it. So its easy to get money in danger time.

[CitySlicker]

It appears the Derbyshire 2.5% rate has been pulled and now offers 2.2%.

[frugalmike]

I've just opened a loyalty saver and as i have been a member over many years I will get 2.6% this is a passbook account which many prefer.

Loyalty Saver
Exclusively available to our existing customers (eligibility criteria applies), Loyalty Saver is a branch based instant access savings account that rewards you with an interest rate linked to the length of your continuous membership with Nationwide. Open with £1,000. Minimum age 18

Rates effective from 03/10/2012

http://www.nationwide.co.uk/savings/...l_accounts.htm

[2010]

Originally Posted by frugalmike

I've just opened a loyalty saver and as i have been a member over many years I will get 2.6% this is a passbook account which many prefer.

Loyalty Saver
Exclusively available to our existing customers (eligibility criteria applies), Loyalty Saver is a branch based instant access savings account that rewards you with an interest rate linked to the length of your continuous membership with Nationwide. Open with £1,000. Minimum age 18

Rates effective from 03/10/2012

http://www.nationwide.co.uk/savings/...l_accounts.htm

Considering they bang the drum about looking after their members and have no shareholders to pay out to, the loyalty rates are pretty poor.
15 years a member and they give you 2.6%, very generous.

[rb10]

Originally Posted by 2010

Considering they bang the drum about looking after their members and have no shareholders to pay out to, the loyalty rates are pretty poor.
15 years a member and they give you 2.6%, very generous.

Where else can you get 2.6% instant access at the moment?

[2010]

Originally Posted by rb10

Where else can you get 2.6% instant access at the moment?

I could get it with them but you couldn`t unless you`ve been a member for fifteen years.

The point I`m making is for all their banging of the mutuality drum, they are and have been one of the worse providers as regards saving rates.

They would have something to shout about if the 2.6% was for EVERYONE.

[chun]

Hello
Just checked their website and Nationwide's loyalty saver for 15yrs. membership is 2.40. Can't see 2.60 anywhere?

[2010]

Originally Posted by chun

Hello
Just checked their website and Nationwide's loyalty saver for 15yrs. membership is 2.40. Can't see 2.60 anywhere?

Looks like they`ve chopped it already.

Crap rate for 15 years loyalty and a crap building society with overpaid directors.

I`ve only got a fiver with them and that`s how it will stay until they pay a decent rate.

[chris1]

Originally Posted by chun

Hello
Just checked their website and Nationwide's loyalty saver for 15yrs. membership is 2.40. Can't see 2.60 anywhere?

I think 2.6 is for Issue 1, the current issue is 2.4 for 15 years, issue 2.

[AndyJ52]

What on earth is going on with savings rates at the moment?
I've been somewhat out of the arena for much of this year looking after an ailing father. Now, most of my 'high interest', instant access accounts are coming to the end of their bonus period and the rates are dropping through the floor. No change there then! However, the rates on new accounts currently on offer are so incredibly low they're hardly attractive are they?
I'm sure that none of this is news to any of you stalwart savings types.... but what are you guys doing with your cash savings at the moment. Are there ANY decent accounts out there, or is 2.5% to barely 3% (with strings) all that's available these days?
Any pointers, if you have them, as to where to stash the cash would be much appreciated - or are you all deeply pi**ed off too!

Thanks in advance AndyJ