MSE News: Savings loophole allows under-35s to earn 5%

keet83

i didn't need an appointment, i just went in asked them about it, and they opened the account there and then because i had all the documents i needed with me, including a check book

ACID

not sure if i missed this but is this a tax free acount?

keet83

no its not tax free unfortunately

Simon11

Even though its not tax free, if you currently pay 20% tax on your income. It only means that you get 4% which still ain't bad compared to ISA's out there.

Also the 5% will hopefully rise when interest rates go !

It used to be 8% a few years ago!!!

**woody123**

keet83 wrote: »

i didn't need an appointment, i just went in asked them about it, and they opened the account there and then because i had all the documents i needed with me, including a check book

I also had everything i needed to open the account. I've even tried other local branches to see if i can open the account sooner.

markums

I opened one of these accounts back at the start of April and my standing order has been rejected as I have the incorrect sort code for Santander. Could anybody help me out? I have been given 09-00-01 and/but i'd like to avoid the call center if possible.
Thanks in advance!
Markums

littlemissmoney

littlemissmoney wrote: »

Thanks to the lovely moneysaver who PMed me the required info. Here it is for anyone else:

Sort code: 09-00-00
Account number: 00050005
Ref: Your account number in the format K12345678ABC

For the person who asked above.

ACID

Simon11 wrote: »

Even though its not tax free, if you currently pay 20% tax on your income. It only means that you get 4% which still ain't bad compared to ISA's out there.

Also the 5% will hopefully rise when interest rates go !

It used to be 8% a few years ago!!!

So is it the same as other savings account then?
Im sure thye also offer 5% taxable?

someone

Does anyone know about this "payments from the 2nd-27th" (sorry cant remember the end day).

Just asking as Natiowide will now be sending SO via Faster Payments. I currently have it set to the 1st, should I change it? When opening it the lady mentioned something about "the computers dont like the 1st and with New Year been a back holiday"

Essex123

someone wrote: »

Does anyone know about this "payments from the 2nd-27th" (sorry cant remember the end day).

Just asking as Natiowide will now be sending SO via Faster Payments. I currently have it set to the 1st, should I change it? When opening it the lady mentioned something about "the computers dont like the 1st and with New Year been a back holiday"

Personally, I would change it to 2nd, just to be on the safe side. You don't want to fall foul of the terms of the account.

My own SO to this account is set-up for the 2nd.