regular savings

markbsac

hi guys where would you put £250 a month regular savings...i have an isa with the halifax but my savings with them is almost £35,000 split between 2 saving accounts....there does not seem to be a lot out there at the moment to tempt a regular saver.....cheers mark

stevetodd

markbsac wrote: »

hi guys where would you put £250 a month regular savings...i have an isa with the halifax but my savings with them is almost £35,000 split between 2 saving accounts....there does not seem to be a lot out there at the moment to tempt a regular saver.....cheers mark

Halifax International is offering 10% on its regular savings account

RayWolfe

Take a look here:
http://www.moneyfacts.co.uk/savings/default.aspx

YorkshireBoy

stevetodd wrote: »

Halifax International is offering 10% on its regular savings account, of corse if your savings there are at 35k you may wish to redirect some of that to remain under 35k

Since deposits with Halifax International are not protected under the FSCS, that wouldn't be necessary.

stevetodd

YorkshireBoy wrote: »

Since deposits with Halifax International are not protected under the FSCS, that wouldn't be necessary.

even better then! no need to move money, I have corrected my post though as you are correct as it is covered by a different compensation scheme (offering 75% of the first 20k)

LongTermLurker

markbsac wrote: »

hi guys where would you put £250 a month regular savings...i have an isa with the halifax but my savings with them is almost £35,000 split between 2 saving accounts....there does not seem to be a lot out there at the moment to tempt a regular saver.....cheers mark

If you're happy to consider moving your current account A&L have a 12% RS account

LongTermLurker

sloughflint wrote: »

I know A&L keep changing the goal posts with their terms but is it really necessary to move the current account? A&L are not the best.

I've a feeling we might have had this conversation before . I don't know what the current regs are, but my Ts & Cs said you had to use their switching service to transfer at least x number of direct debits and/or standing orders, and must pay in your salary of at least £500 pm - I recall someone else saying she just made a monthly payment in from another account, rather than her wage. TBH it's no hassle for me - wage goes in and within a week it's part way into the free overdraft (the rest moved/stoozed, not spent )

Simply apply for a Premier Regular Saver at the same time as you switch to a Premier Current Account at your local branch. You will need to switch all your direct debits/standing orders to the current account using our Premier Switching Service within 11 weeks from the account opening and meet the conditions of the Premier Current Account or the Premier Regular Saver may be closed.

That "all" bit is new - they sent a form that you could select which ones to transfer when I did it.

Carolinaz

Well, I'm in the US and I work for this bank, so I'm biased. I would put the money in ShoreBank, as they have a high-yield savings account (online access) with 3.50% APY. Also they are a bank with a conscience - they participate in green lending and community growth projects.

RayWolfe

Really helpful for a UK board. Thanks!

The_Fiddler_2

LongTermLurker wrote: »

I recall someone else saying she just made a monthly payment in from another account, rather than her wage.

That was me and I did get all my interest. I opened that account 18 months or so ago now though, so things may have changed.

LongTermLurker

Carolinaz wrote: »

Well, I'm in the US and I work for this bank, so I'm biased. I would put the money in ShoreBank, as they have a high-yield savings account (online access) with 3.50% APY. Also they are a bank with a conscience - they participate in green lending and community growth projects.

Not much use in the UK and not many people would get out of bed for 3.5% when double that is the averageover here.