Regularly Beat The Best Savings Account Rates Article Discussion Area

Kazza242

Riviera_Kid wrote:

Just a quick question on the Ipswich building society one:

Is it possible to pay the cheque deposit on say the 20th, and then set the standing order to go on the 1st from the next month?

Yes, that is exactly what I did last month when I opened my Ipswich RS account.

monki_man

Can somebody help me out here; I’m trying to juggle my regular saving accounts
I currently have an ISA account with A&L but most of my regular saving accounts are about to mature. My situation at the moment looks like this, I am six months into my Lloyds RS account 8% (two year deal), A&L RS account ends next week and Halifax and HSBC is going to end Feb 07.

Reading Martin's article, The Lloyds still seems like the best one out there. However what about the others accounts? I am not sure if i am able to get hold of A&L improved 12% RS but I will stick with HSBC as 8% still looks good.

After pulling a quick search in Moneysupermarket, A&L 12% is the highest interest rate, but this is for new customer only. I doubt i can qualify for it.
Then Barclay's RS 10%, I have to put my salary in the account so this type is unsuitable for me.

Then the other accounts are HSBC 8%, Ipswich 7.25%, Halifax/Abbey both 7%. These accounts have a maximum of £250 in each month. The Yorkshire account is a lower rate but you can deposit up to £500 a month.

Is there any good RS out there? Or am I better off with Lloyds, HSBC, Ipswich and Halifax?

Scag_2

12.5 % Gross. Fixed for 12 Months.

For Barclay existing customers who already meet the conditions and have no desire to create a second current account this offer must be too good to miss. Ok the limit of £250 for 12 months will not make a fortune but it is an unexpected reward for loyalty.
Is there a better rate for my £250 now earning 12.5 % with no more effort than a 5 minuets call at any branch?
If it fits Grab it now it may not be around as long as suggested.

longforgotten

I already have a joint current account with my husband at Lloyds so I thought I'd look into this 8% account. I admit I hadn't read up on it too much, just attracted by the 8% rate.

So off to my local branch this week I went and the first advice I was given, once she knew of our current account , was to consider if I wanted the account in joint names or sole names. Apparently if an account is opened in joint names you cannot then open an account in your sole name.

Sounds best not to open an account in joint names. Open one in a sole name first because you can then open another account later on if you are lucky enough to have some more cash !

victoriab

If anyone at Lloyds tells you that you can only set up the standing order from the Lloyds Current account, ask them to contact the PROCEDURES DEPT, who will tell them that the standing order can be set up from a current acct at any bank.
It was a long and painful process for me to get to this point, talking to call centre staff on the telephone and finally in a branch, but 8% (and being a non tax payer) it seemed worth it. It's all up and running now.

timsj

Just a word of warning all, from a disgusted moneysaver, who managed to drop a ball...

A+L regular savers - I have a Premier Direct Account, which you need in order to transfer money in to your regular savers account.

I managed to transfer some money out just before the Direct debit transferred in to my savers account, which led to me going overdrawn for 12 days, by £250. You can imagine what's coming next... :-(

£75 charges!!!!! One for the transfer, one for the overdraft, then ONE FOR BEING OVERDRAWN FOR MORE THAN 4 DAYS!!! £75!!!

This is how they can afford 10%.

More fool me, I hear you say, and quite right, but I'm usually pretty consciencious, so just wanted to warn you.

Fortunately my regular savers account has matured this month (hence the mistake), so will be closing all my accounts with them asap - esp. as there are better savings accounts out there now anyway...

missile

timsj wrote:

Just a word of warning all, from a disgusted moneysaver, who managed to drop a ball...

...

I did the same and got a refund in response to one letter of complaint :money:

timsj

just got a reply to my fuming email - and £25 refund as a "goodwill" gesture, so my little mistake only cost me £50!!

Still, better than nowt I guess...

Shelle

Whats the best thing I can do?

I have enough savings to open more than one regular savings account. I have already decided to open a Lloyds TSB one (already had a current acc although not used as main one). Debating about opening a Halifax one at 7% for second one.

Alternative would be to do the Alliance and Leicester offer at 12% and transfer my current account to them in order to qualify. Is that a reasonable idea to do just to get 12% on £250 accrual a month for a year? My current account is with IF at present with a 3% interest rate so obviously my balance loses out slightly. Is the gain on the savings enough to warrant changing over?

I suspect it may not be, and that I should stick with Lloyds TSB and Halifax without changing my current account. Am open to ideas though in case I have overlooked something!

sashacat

I'm in a similar position as my A&L and my HSBC end soon. I would open a lloyds current account but don't want it to be my main one...can you open the lloyds account and not have main income paid in and still get the RS account?