Best place to invest Christmas savings?

Charley_Farley

Colleagues have been running a staff savings scheme where money is taken from salary each month and paid to a building society account. We then withdraw it all + interest in early November and pay out by cheque to everyone. The idea isn't to make huge amounts of interest but to save for Christmas without having to think about it. We've been badly let down by the building society this year with rotten service, and even though we've opened next year's account they now say they won't pay out by individual cheques. Any ideas where or how we can do this for next year? We're talking in region of £60,000 by end of the saving year so really don't want to withdraw in cash!

isofa

You'll probably be best looking at local BS which support these type of group accounts - inevitably leading to a lower interest rate.

All the good rated Christmas Saver accounts (such as Skipton's), are personal only, and have a low monthly max deposit effectively as a regular saver.