Regularly Beat The Best Savings Account Rates Article Discussion Area

Innys

This Vanessa Smith woman is my nemesis.

She has written to me twice using exactly the same words as Gonky received. She also apologised for the "incorrect" information their helpline had given me!

If I were her, I would check out the exact position with her bosses. Then either she could amend the advice she was giving out or make sure the helpline's advice was consistent were her own.

Either way, this doesn't bode well for their customer service. Let's hope Ipswich BS's is better.

Chichi_2

$17mma wrote:

Hi TracCap

the NS&I Isa is the best on the market right now, and the regular savers are looking good too there are quite a few out there.

Lloyds 8%
Barclays 10%
A&L 10%
Halifax 7%
Abbey 7% or 8% if you invest in one of their bonds or have a Abbey bank acct

There are some good bonds out there too. Check some of the threads for feedback on the various products available.

I couldn't find 8% for Abbey bond. Where did you get this info please?

Kazza242

Chichi wrote:

I couldn't find 8% for Abbey bond. Where did you get this info please?

The 8% Abbey regular savings rate is not on their website. It can be found in branch and by phone if you call Abbey on 0800 30 20 30.

You would qualify for the 8% rate:

If you open an Abbey current account and pay £1000 into the account (i.e. salary).

Apply for an Abbey mortgage.

Take out an investment product.

Open another Abbey savings account with £1000 or more that isnt currently saved with Abbey.

If you're a basic rate tax payer, the 8% regular saver will generate £13 more interest than the 7% regular saver. The latter is open to all.

macawber_2

Why doesn't the article recommend the National savings and Investment 3 and 5 year savings certificates which pay 1.05% and 1.1% respectively over AER and are tax free. They look like a good buy but am I missing something?

steady__eddie

With the advent of higher returns on Reg. Savers over "Lump Sum" a/c.s, I been converting notice a/c.s as and when they mature. I have gone through the nice 12%s, the 8%s and the odd 7%s and am now scouring the "tiddlers" offering a paltry 6%. Looking at Leek Bldg. Soc., I could not see what happened after the year was up, would it be transferred into a mickey mouse instant access job paying 80% of b*gg*r*ll rounded up to 3 decimal places or what ? (Quite a few are offering this option). I contacted them on Saturday and was pleasantly surprised today by the reply.
Option 1 Withdrawl by cheque.
Option 2 Transfer to another Leek United account / bond of your choice. This
would depend, of course, what is available at the time.
Option 3 At the moment, we are also allowing account holders to continue their regular saver for a further 1 year term.
It would appear from this that it may be possible to run it for two years rather than one. What's the betting that this facility is withdrawn just after I've made my eleventh payment ?

RayWolfe

steady__eddie wrote:

It would appear from this that it may be possible to run it for two years rather than one. What's the betting that this facility is withdrawn just after I've made my eleventh payment ?

I think you'll find that continuing for a further year means money has to come out but you can start a new round of monthly payments. That's what happened to me.
Ray

steady__eddie

If it sounds too good to be true, then it probably is.

pennineman

I've recently opened 3 Regular Savings Accounts with different providers: in each case the opening process was anything but glitch-free.

In each case I have had to supply details online, via snail-mail, via phone and in person at a local branch.

In one case it took a month to open the Regular Saver.

In another I had to tell them what the actual t&c were (guess which one that was).

And in the third I am still trying to correct their computer-generated glitches . . . .

I'm amazed that in the 21st century I still need to use a phone, paper and personal contact to sort my finances out.

As my voice has been screwed by my MS then phone and personal contact is difficult. Feel like beating a few bankers over the head with something heavy . . .:mad:

steady__eddie

In another I had to tell them what the actual t&c were (guess which one that was).

Can you give me a clue please ?
Does it sound like the thing a plumber comes to mend ?
For a change I'm being serious and it was my intention to pop into a certain retail outlet on my way through Uttoxeter tomorrow with a view to acquiring one of these for 12 months or so but if there's hassle involved, I'll take my custom elsewhere.

Exceller8

:money: Look what i found :j 8.25% target saver from Ipswich bs http://www.ipswichbuildingsociety.co.uk/pages/savingsRegular.php
Just print off and post with relevant id. all done within a week:j