Christmas Saving Scheme 2009

jonesMUFCforever

If OP does decide to go ahead with the voucher idea - make sure he/she pays with a credit card - he/she would then be covered by the CCA if the company went belly up.

simongregson

I never understand the obsession with vouchers. The best option is surely to open a savings account, you will know your money is as safe as it's going to be and you'll get a little bit of interest. You can spend the money where you like with no restrictions!

On a lot of internet banking sites you can open as many e-savings accounts as you like, so you could have a pot for christmas money, one for car bills/tax etc. I would advise the OP to do this via their existing bank unless they are saving a more substantial sum, as the convenience will outweigh the small amount of interest to be gained.

davetrousers

A bank (or building society) anything else is folly.

YorkshireBoy

jonesMUFCforever wrote: »

If OP does decide to go ahead with the voucher idea - make sure he/she pays with a credit card - he/she would then be covered by the CCA if the company went belly up.

Are you sure?

Vouchers might be considered a 'cash substitute'.

Even if it they were covered, you'd have to buy them in £100 denominations and as single transactions wouldn't you?...and that kind of defeats the object of a weekly/monthly savings plan (unless you're planning a very expensive Xmas!).