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

keet83

stphnstevey wrote: »

Can you apply online?

no you have to go into a branch, and by what others have said on here you may be best making an appointment first

Essex123

... and when you sit down, make it clear to your adviser that you only want to open the First Home Saver, and you don't want to talk about any other products (unless you do want to!)

housesitter

Has anyone paid in a large sum (30K+) and had their account closed? Or indeed still going a few months later ?

Simon11

The max you can have in the account is 50k and then it will be closed down

jrcocio

For those that have had success with this account; with the standing order are you meant to use your name as the payee name or Santander?

Would ask Santander but I'm afraid it might take a week to get an answer

Simon11

With the check for the deposit, you put it to yourself- Strange I know!

However go into the high street shop, I've always found them helpful at my one!

**woody123**

jrcocio wrote: »

For those that have had success with this account; with the standing order are you meant to use your name as the payee name or Santander?

Would ask Santander but I'm afraid it might take a week to get an answer

You've got me worrying now.:rotfl: I put Santander as the payee name and never thought it could be different until i saw your post.

But if the account no. and sort code are correct then it should go to them.

withnell

"Easy access" in the MSE article is slightly misleading. I can now close my account but only because i sat in a branch and refused to leave until they gave me a mortgage interview.

Turning up for 3 separate pre-arranged interviews, and at each one being told after waiting for most of the lunch hour that the staff member wasn't able to help, tipped me over the edge!

ACID

ACID wrote: »

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

anyone????

keet83

ACID wrote: »

anyone????

no it isn't, this one is not a standard 1 year then transfers to a low interest saving account.

with this one, it stays open until you close it, withdraw the money or until there is the standard maximum allowed in the account, which i think is £50,000, but you best check that first.