Quickest/easiest basic online savings account

Burlesque_Babe

hi - I was wondering if anyone knew which was the quickest and easiest online very basic savings account was to set up.

I want one I can transfer a small amount each month (only £25 or so) but one I can open and deposit straight away - are there any?

Doesn't have to be anything special, just a basic savings account.
thankyou !

System

The quickest i think must be an online saver attatched to your bank account. I transfer funds between my bank account and my online saver within seconds and i think most of them are the same.

Milarky

What about ING? Internet AND phone. Transfers arranged simply [but only back and forth between your current account - and you must be able to write them a cheque to set this up]. Pays 4.75% and interest is credited monthly - so you can see you savings grow. Online statements every 3 months. ING's rate has remained competitive since they started - and at the amounts you propose to save it won't a lot of difference anyway. As they only offer one account they aim to treat all customers exactly the same.

The only 'nag' I have about it is that you need to give at least 2 days notice to move money back and fourth. Not a problem if making 'standing order' payments, but slightly inconvenient for access. This is because they link to an 'external' current account. However, BACS - the system used to move movey around - is due to speed up at the end of next year - meaning that you should be able to transfer money between different banks on the same day - and that will include ING's account.

Otherwise, you could look at the various accounts offered by the bank's [current account providers] themselves - as you will have genine instant access to these now. I bank with Nationwide and they offer 4.75% via an 'e-savings facilty' which qiuck and easy to use. It will probably always be quicker to go with your own bank in setting up online accounts - although ING is quick [i.e. you can apply online and they post out the documents straightaway.]

Robert_Sterling_3

Halifax Current Account & Halifax Websaver suits me. It might suit you too.

ioscorpio

I have an A&L online 4.75% saver linked to my A&L current account and a Nationwide e-saver 4.75% linked to my Nationwide Flexaccount. With both banks, transfers are instantaneous, so no lost days of interest, like you would have transferring to a different bank.

Burlesque_Babe

many thanks all - have gone for the Halifax Webasaver a/c.