Best Instant Access Saver for feeding Monthly Saver

JONESAD

I have applied for a Saffron Regular payment ISA along with a Barclays Monthly Saver and I am now looking for the best easy access savings account to use to feed these accounts. The problem I have is that I think I need the account to have a standing order facility to make the regular payments out and none seem to have this. I also want want to have access to my money and not lose all the interest if I withdraw it.

Would appreciate all suggestions.

Milarky

JONESAD wrote: »

I have applied for a Saffron Regular payment ISA along with a Barclays Monthly Saver and I am now looking for the best easy access savings account to use to feed these accounts. The problem I have is that I think I need the account to have a standing order facility to make the regular payments out and none seem to have this. I also want want to have access to my money and not lose all the interest if I withdraw it.

Would appreciate all suggestions.

The Saffron will accept BACS and Faster Payments, btw. Don't therefore rule out the use of 'savings' accounts which offer simple 'single payment' features as opposed to 'Standing orders' (which is a bit of a woolly terms these days) Also, doesn't Saffron mention 'Direct Debit' too as a method of payment (i.e. from a current account)

I would therefore open either an account that allows you to at least 'BACS' the monthly payment direct to any account - not just your 'nominated' one OR an account with Faster Payment facilities for backfilling your current account if used with a direct debit. Egg currently pays 3.25% and allows BACS transfers, for instance....

Special_Saver2

Try post 9 in this thread on regular saver accounts - Regular Savings Accounts: The Best Currently Available!

SS2

Special_Saver2

Milarky wrote: »

Egg currently pays 3.25% and allows BACS transfers, for instance....

Milarky, do you mean this account? Egg Savings 3.35% gross p.a./AER. Includes an introductory 12 month variable bonus rate of 2.10% gross pa from the date your account is opened. This is a limited offer for new accounts only, and for new money into Egg that is not already held within an existing Egg Savings Account (Internet) or Egg Savings Account (Investor).

I cannot tell from the Egg website whether this interest rate has dropped yet in response to the February Bank of England interest rate cut. Martin's savings accounts page shows this interest rate as "partially dropped".

It seems worthy of inclusion in post 9 in the above regular savings thread.

Can you confirm that this account does not require a single linked account (e.g. a current account) for withdrawals? How many separate accounts can you set up BACS transfers to?

SS2