Best Savings Account with Debit Card

sjgeat

Hi,
I'm a single mother who is looking for the best savings account that offers a debit card and good interest.

Basically, at the moment the child fund and benefits get automatically tranferred into my personal account which earns very little interest. I purchase items using my debit card and also buy from the internet.

Can anyone please recommend a really good savings account that has a debit card faciliy, really good interest rate and the ability to withdraw any amount from the accont?

I look forward to hearing your views and opinions

SJ

Milarky

True savings accounts don't offer debit cards - only current accounts do. Savings accounts proper can offer everything but the debit card/cheque book.

For sheer interest, you could apply for a Premier Direct account from A&L [5% in credit interest up to £2500 to 31 Dec 2006] but would be credit scored and you might not get that. Top rates are for regular saver accounts. Best regular saver accounts are the 'no-strings' variety, and you'd need to be able to commit to put away at least £20 per month and leave it there.

For instant access I would have said ING Direct - at least that makes good use of the poor paying account that you have. However it isn't true instant access - merely 'no notice'. You must allow two working days for all payments to move between accounts [e.g. Your Bank ---> ING or ING ---> Your Bank] but otherwise it is very easy to get a handle on*

If you open a current account with Nationwide you can get a linked savings account [e Savings] that pays the same rate as ING [4.75%] but will always allow you to move cash back and forth instantly.

Any other suggestions anyone?

*I did make a boo-boo with this once by trying to withdraw a large amount from the Bank to ING by mistake [should have been TO Bank FROM ING] which was bounced because it was not sufficiently covered by the overdraft limit. The Bank agreed to waiver the returned payment fee but they could have stuck to their guns and refused as it was my fault it happened.

grumbler

sjgeat wrote:

Basically, at the moment the child fund and benefits get automatically tranferred into my personal account which earns very little interest. I purchase items using my debit card and also buy from the internet.
...

You use the internet. Most of banks and BSs have saving accounts that can be accessed only online, but pay 4%+. For example, Nationwide e-savings account pays 4.75%. Transfers between these accounts and current account in the same bank (BS) are instant and free.

al_yrpal

I'll second Nationwide. You get interest on your current account, you get a no gimmicks e-savings account with a market leading rate of interest. You never get charged at ATM's and you can use your debit card in ATM's abroad with no fees whatsover. Its the best on the high street. All the others have short term offers which seem attractive, but don't cut the mustard after 12 months

Newbird

Have yopu seen Coventry Buidling Society's Family First account? Gives instant acccess with a link card - its not a debit card, you have to ge get cash out, but for that bit of effort it pays 5% on family savings and a great 7% on your child benefit when its paid direct into it. I don't get Child benefit any longer, as mine are all grown up, but this looks like the best place to put it!

http://www.coventrybuildingsociety.co.uk/savings/products/family1st_info.asp

If you want a debit card and current account you can link A&L current account to its Online Saver. And as everyone says, Nationwide have a great account with eSavings linked - Flexaccount, that I' ve used for ages, and I'm very happy with it.