Instant access web account

twixeey

I have just looked at my Halifax Web saver and see the interest rate has dropped to .25% I use this account for my small pension to go into and want to have a card to get money from a cash machine, also it would be nice if I could still pay off my credit card and store card direct from this account. Does anyone know if I can change to another account to get a better interest rate, even 2% would be nice.
Many thanks .. Twixeey

Milarky

You can get 2.5% from both ING (as a new customer) and Egg at the moment - both include 12 month bonuses. Faster Payments-in too but BACS transfers (only) from, I'm afraid. The Egg is easier to open and operate (e.g have as many payee destinations as you like) so, on balance that's the better one.

(There, 'over 2%'. Can we do any better suggestions?)

Milarky

But, in that case, what about applying for a A&L premier direct current account paying 5% (assuming you have an average balance no more than £2500) instead? Combine this with a fixed rate deposit Websaver for the balance in Halifax and earn upwards of 3%. [Note the possibility of different investment periods with concurrent account openings...]

opinions4u

twixeey wrote: »

I have just looked at my Halifax Web saver and see the interest rate has dropped to .25% I use this account for my small pension to go into and want to have a card to get money from a cash machine, also it would be nice if I could still pay off my credit card and store card direct from this account. Does anyone know if I can change to another account to get a better interest rate, even 2% would be nice.
Many thanks .. Twixeey

It's been a horrible 12 months for Web Saver!

I used to have dozen of these, different pots of money for different things earning a decent rate.

If you can fund £1,000 a month through an account, their Reward Current Account will pay you a fiver a month.

The £1,000 doesn't have to stay in the account - just be paid in by cash, cheque, wage, pension or even by transferring funds between the account and your Web Saver :T.

So you could pay in a small pension (e.g. £600, move £500 to the Web Saver, then move £400 back and you've met the funding requirement).

£60 a year for playing with online banking.

rb10

The really daft thing is that Bank of Scotland have an account almost identical to the Halifax web saver, called the Instant Access Savings Account. As Halifax / BOS use the same internet banking, you can still transfer money instantly to/from other Halifax accounts, and you won't need extra ID or anything to open it, as you are already a Halifax customer. It pays at least twice the rate of the web saver.

dwsjarcmcd

Yorkshire Building Society's Internet Saver pays 2.1%, has a link card and you can set up to 12 'destination' accounts where you can pay bills to.

twixeey

Thank you everyone for your suggestions, off now to investigate them
Twixeey