I need a Savings account but.....

donnadoo515

The APR is not an issue (although i know it should be)

Me and my DP are saving for our wedding day and we need a savings account where where we ideally have a book instead of a bank card where we have to go to the branch to withdraw money

I know that if the money is there and easily accessable i.e online/telephone we will just dig into it when we are skint, but if we have to physically go to the branch it will deter us.

we were thinking about a notice account but if we do need to access the funds to pay for something urgently then it would be no good.

So does anyone know any banks that offer a savings services that doesn't revolve around the internet and telephone.

If we get a cash card it is not a problem as my dad will be holding onto it for us.

Many Thanks in advance

B.E.N

Think you've just answered your own question!

Get a savings account with a cash card, ideally one that pays a good rate of interest, but as you're only saving for a little while, that's not totally paramount.

Then get your Dad to look after it!

Give him strict instructions on what restrictions you want placed on it, and he'll be the best deterrent from plundering the wedding fund

briona

donnadoo515 wrote: »

The APR is not an issue (although i know it should be)

Me and my DP are saving for our wedding day and we need a savings account where where we ideally have a book instead of a bank card where we have to go to the branch to withdraw money

I know that if the money is there and easily accessable i.e online/telephone we will just dig into it when we are skint, but if we have to physically go to the branch it will deter us.

we were thinking about a notice account but if we do need to access the funds to pay for something urgently then it would be no good.

So does anyone know any banks that offer a savings services that doesn't revolve around the internet and telephone.

I've just opened an NS&I Investment account at the Post Office (purely so I could put all the coins I've saved up in there before transferring them to a higher paying account).

This account is operated in person at the PO or by post (minimum opening deposit of £20). It comes with a passbook and you can set the account up so it requires two signatures to withdraw anything. To withdraw you fill out a form at the PO and NS&I will send you the money – cash to be picked up in person at the PO (up to £2,000) or direct transfer to your bank account.

The interest is tiered but never reaches the heights of some of the top paying accounts. It is important to note that interest is paid gross, once a year on December 31 – you will need to declare your interest to HMRC.

http://www.nsandi.com/products/invac/howitworks.jsp

All other info can be found via that link.

HTH

Briona

doelani

briona wrote: »

I've just opened an NS&I Investment account at the Post Office

thanks for the info


how long did the process take? I cannot open by phone as only have an electron card so will have to call at post office or do it by post.

briona

doelani wrote: »

thanks for the info


how long did the process take? I cannot open by phone as only have an electron card so will have to call at post office or do it by post.

I think all in it probably takes about a week – I only opened mine on Thursday so will update this thread as soon as I get more info!

You fill in a form at the PO (the name of the brochure/app form is NS&I Passbook Savings). You hand over a minimum of £20 for which you obviously get a receipt. Then the PO sends the app form off to NS&I and they send you a passbook, account number etc. After that you can make deposits in cash at the PO or by cheque in the post to NS&I...

Sorry I can't be more specific at the mo!

Briona