Question about changing savings account

trej

At the moment I have a savings account linked to my select plus current account with Lloyds but the interest rate is very poor (sub 4%).

Obviously id like to get the best interest possible so was thinking of going for B+B's internet saver.

The only thing I do like about the account I have at the moment is that I can switch funds between my current and savings account online instantly. Will I still be able to do this if i had a current account with Lloyds and savings account with B+B?

Withdrawal is by BACS apparently so bit concerned about a delay in getting funds out - I pretty much need instant access...

isofa

Have you registered for Vantage interest on the LTSB current account? It's available on all accounts free of charge and pays a higher rate as long as you pay £1K in per month.

Depends how the link B+B account works, if it's by BACS then you'll have a 3 day delay when transferring money.
You can always use CHAPS for emergencies but it costs £20 to £30 usually.

What about putting some in a LTSB internet saver, which you can move money about instantly, but not as high as B+B rates.

trej

isofa wrote: »

Have you registered for Vantage interest on the LTSB current account? It's available on all accounts free of charge and pays a higher rate as long as you pay £1K in per month.

Depends how the link B+B account works, if it's by BACS then you'll have a 3 day delay when transferring money.
You can always use CHAPS for emergencies but it costs £20 to £30 usually.

What about putting some in a LTSB internet saver, which you can move money about instantly, but not as high as B+B rates.

Hi thanks for the quick reply, ive got a select plus account + internet saver at the moment so I get max interest in my current account and savings account.

Savings account interest is only 4.25 % AER, so in Martins words is a losing account effectively (less than inflation)....I think a 3 day delay may be too much of a delay though

gonna have to think about this one :think: