Internet Saving Account

YorkshireBoy

netty179a wrote:

This is from the website.

Deposits are also completed online by:
Arranging a transfer within another of your cahoot accounts.
Using a pre-arranged direct debit from a non-cahoot account.

Bummer as good rate. Am keeping in mind tho. Cheers

I think you've misunderstood the operation of the direct debit process with regard to savings account operation.

All "using a pre-arranged direct debit from a non-cahoot account" means is that you tell Cahoot to 'pull' money in from your external current account, as opposed to you 'pushing' it in from your own current account online banking system.

They need the direct debit instruction set up to allow YOU to initiate the transactions. Only YOU can move money from your external current account to your Cahoot savings account.

Rikki

Rikki wrote:

Let me check, back soon.

Right I just been and checked all the payments I have made into my cahoot deposit account have been from my natwest current account under the make a payment.

grumbler

netty179a wrote:

I only have about £50 to open with and will be depositing minimum £50 a month. Preferably easy access but not a major problem. As long as I get a decent rate of interest not really bothered about the highest.

If you do want a decent rate of interest and if easy access really is not a major problem, your best option is a regular saving account. See Regular Saver link in the blue box above. The simplest is Halifax with 7%.

Steve_xx

I would go for the Alliance & Leicester account at 5.15% per annum on amount upto 25,000. Here's a link:

http://www.alliance-leicester.co.uk/savings/index.asp?page=online-saver

I would also open an Alliance & Leicester Premier Current Account, in order that you can view both online and feed one from the other. Another advantage of this current account is the Free annual Eurpean travel insurance policy that comes with the account. Here's a link:

http://www.alliance-leicester.co.uk/currentaccounts/index.asp?page=prem-credit-interest&ct=curracchome

Or you may wish to choose the ICICI Bank which offers 5.15%. This is the second largest bank in India which now has a UK presence. Here's a link:

http://www.icicibank.co.uk/index.html

Paul_Varjak

With whom do you hold a current account?

Stompa

netty179a wrote:

Deposits are also completed online by:
Arranging a transfer within another of your cahoot accounts.
Using a pre-arranged direct debit from a non-cahoot account.

Then why not set up a direct debit?

Stompa

netty179a

Thanks everyone, I'll look at the other options.
The reason I was asking about internet banking and tasnsfers is because I don't want to set up a direct debit. I FULLY understand the direct debit process and because I will be moving money from a couple of current accounts, one being in Spain, into a savings account the option of putting money in via internet tranfer is my favoured option. I don't like direct debit now as I have had to pay over £500 worth of bank charges over the last few years due to lack of funds and my mis-management of the accounts. I'm trying to get myself out of debt, as is everyone I guess.
Thanks tho for the advice received so far.

quickquid

netty179a wrote:

Hi, can anyone advise on an internet ssavings account? I only have about £50 to open with and will be depositing minimum £50 a month. Preferably easy access but not a major problem. As long as I get a decent rate of interest not really bothered about the highest.
Cheers

There are internet banks around which allow you to transfer funds from your savings or current accounts by a BACS transfer to any current or savings account. Also, although some of these 'linked accounts' may require a DD mandate, you do not have to use it and can to choose to instigate your own BACS transfer. I suggest you use a financial search engine to see which account suits your needs.