Coventry First

oscarhugo

Ken68 wrote:

Probably sixty five...forget now...walked out in a huff. Went to Norwich and Peterborough who offers 8% similiar deal, but again hoops to jump, so didn't do it.
Thought about Halifax 7% which with the Web Saver at 5% seems a good account, but had a row a few years back, to their detriment (they were made to pay me £250),so figured they would eff me about if they got the chance.
So Coventry had the money, soon not to have the money.
All ISA'd up so got£2000 or £3000 to put somewhere.

You could try opening up the crappy Barclays on-line current a/c which would then enable you to open their 10% regular saver a/c. You might not be willing to do all the fiddling about though [I WAS willing] -- you have to fund the current account with £1k per month & then you can only put £250 per month into the regular saver. So I've set up standing order from my usual current a/c to pay £1k into Barclays & then set up s/orders on Barclays to pay the 250 into reg.saver & the remaining 750 out again! As I said, you might not be willing...

Ted_Bloke

oscarhugo wrote:

You could try opening up the crappy Barclays on-line current a/c which would then enable you to open their 10% regular saver a/c. You might not be willing to do all the fiddling about though [I WAS willing] -- you have to fund the current account with £1k per month & then you can only put £250 per month into the regular saver. So I've set up standing order from my usual current a/c to pay £1k into Barclays & then set up s/orders on Barclays to pay the 250 into reg.saver & the remaining 750 out again! As I said, you might not be willing...

I intend to do this too. Which is my reason for asking: what exactly do you mean by £750 out again?
Do you mean you use it for paying ordinary bills, utilities, cash etc.? In which case you are just using it like an ordinary bank account which is what it's meant to be and what they want you to do.
Or do you mean you transfer it after a day or so into some (non-Barclays) savings account? Or even back into the account it came from? Which I guess is not so much what Barclays meant you to do but I suppose those "willing to do all the fiddling about" are a minority.
I'll try to do that anyway but just wondered how it worked for you.

Anon

I have always thought it would be useful if online banking accounts could impliment a system like you have rules in MS Outlook - for example, using the above, if £1000 arrives in from X account, pay £250 to Y account and pay £750 to Z (or indeed back to X!). I know that would suit people playing the system, but it would also suit people who want to be absolutely sure that the money is in their account before paying bills etc. And if you were having a number of these accounts with different banks for the high interest accounts, you could automate the money going round the system to ensure that you hit the account terms without any effort .

Anon

oscarhugo

Ted_Bloke wrote:

Or do you mean you transfer it after a day or so into some (non-Barclays) savings account? Or even back into the account it came from? QUOTE]

Yes, indeedy -- that's exactly what I mean ! It does mean a few days lost interest while it travels between accounts but then you can't have everything !