First Direct Everyday Savings

tomstickland

I was only paid £1.76 interest on a balance of £1624 this month. Seemed a bit low, so I checked the details. It's now only paying 1.75% AER! Better move the money I think.

Edit: DOH, it is just a cruddy Everyday Savings. I want the E Saver Account.

I feel financially abused now - to think I've left £1.6K sat in a crappy, below inflation account for 3-4 months now. Must pay more attention to the details.

Dagobert

Beware: the FirstDirect e-Saver a/c does NOT pay interest in a month you make a withdrawal! That equates to a dramatic interest drop, see FirstDirect eSaver - get the full 5%!.

Caped_Avenger

The EDSA is useful for people who can't have a current account, as you get a cashcard with it. If you phone up CS, they should be able to convert it from an EDSA to a Savings account, which will give you a better (still not great, though) rate of interest with no interest loss for withdrawals. Or just get the e-Savings instead.

tomstickland

Exactly, that's one option (convert to E Savers). I'm well aware of the no interest in month when money withdrawn effect, but I intend to leave the money there for a long time anyway.
I'll probably move the money into my A&L savings account instead though.

My thread was about me not noticing that i had the wrong account.

Caped_Avenger

Now ING have dropped to 4.5% AER, i'm going to use my eSavings for stoozing now instead. That'll be from 5th January, i'm thinking.

Not that it'll make any real difference to you, but you'll have to close your EDSA, and open a new eSavings, you can't do a direct conversion.

tomstickland

OK, thanks for that. I've got an Icici HiSave account too, but having service issues.
What about the A&L internet saver?
I'm off to close my EDSA right now. Load of cack it is.

Caped_Avenger

Never personally touched A&L. fd have been my main bank for 2½ years now, and the only savings i've got outside of fd are with ING. I can't be bothered with the checks you need to go through to open up a new account with a new bank. Until fd & ING are seriously uncompetitive, i won't bother moving elsewhere.