New e saver here: advice please

quatro

Hi - I have only ever saved money by going into a BS branch.
I will soon put a cheque from an inheritance into my Halifax current account [£28k] but would like to put it into an internet fixed rate savings account asap.

Has anyone the patience to go through the process with me from start to finish? - letting me know how it works and what I can expect so the process goes smoothly.

Thank you.

Froglet

First of all,look through the banking and saving section at the top of this site.It explains in easy terms the different accounts.Fixed rate accounts,good ones,are going fast so i would be all ready to go, as soon as you know you are paying the cheque in.Go to the website of the Bank/Building society you choose and follow their instructions on there.You may need ID unless you choose one of the Halifax own accounts,or related ones.

Using the internet for saving and banking is easy and you will wonder why you didn't do it before once you are up and running!!

opinions4u

I would strongly recommend registering your current account for online banking now, to get used to the system.

You'll then find opening accounts with the same provider simple.

I wouldn't be without it.

If in doubt, pop in to a branch and get a real person to help!

Veryunique_2

A word of caution if you are a married woman.

You will be OK with the Halifax as you have your current account there but other internet providers will require ID because they cannot check your identity/residence electronically unless you have a mortgage in your name. Being on the electoral roll is not enough. So you will need certified copies of passport or driving licence or current council tax bill to prove ID and bank/credit card statements or utility bills to prove residence. This takes time and is a real pain.

Bradford&Bingley can verify electronically because they ask you to fill in passport details yourself online. This was the case a year ago anyway.

If anyone knows of other providers that get you to fill in passport and driving licence details yourself online and avoid the paper hassle, I should be grateful to hear of them.