Abbey 7% Fixed Rate Monthly Saver launch 14/07/06

Kazza242

rangers_fc wrote:

what is a certified copy of youre passport, cant seem to find any of the other documents?

A certified copy means a photocopy has been made of the document and it has been seen and signed by a Solicitor (or other professional person) who certifies it as belonging to you and being a copy of the official and valid document. They charge for this service though.

The easiest thing to do is phone your local tax office, quote your NI number and ask them to send you a notification of tax coding statement. They send these statements out very quickly, once requested.

Send the original to Abbey along with your recent current account bank statement. The bank statement must be dated within the last 3 months.

info_addict

My wife and I went into our local branch (Bolton), this morning to open the 5.5% bond and the 8% monthly saver. We were told that the 8% wasn't available unless you changed bank accounts or took out a mortgage.

We stood our ground and explained this wasn't correct. Anyway the chap went and asked another colleague and the manageress. Both said we could only have the 7% regular saver even though we were opening the bond with a £1,000. But again we stood our ground and he ended up finding the correct information on their website (somewhere)!

Thanks to this forum, we sometime seem to know more than the employees!!

Moral is, stand your ground.

goofy115

Hi All,
I've just opened my bond today (26/7) and was told that abbey are withdrawing the 5.5% bond offer early (27/7) due to the subscription.So my advise is if you want the 5.5% bond get on the phone and arrange an appointment pretty sharpish.
Paul

buses7675

Hi All,

Hope they got my application then, sent first class yesterday morning! - Should have got it today I hope! Should have been open as of today then, phoned up last Friday for it though and when you phone you just get the form posted to you, so you will have to be quick!

Cheers

Steve

skorpio40

I opened the 7% regular saver account the other day. went to my bank to set up a standing order from my savings account (this pays 4%) but they said i cant have a standing order from my savings account (is this correct) and so i done it from my current account (2%). Anyway as i can do my banking online it is just a matter of transferring it from my savings the day before, is this ok?

Also can someone set out how the interest works on this account if i am saving £250 pounds per month please.

Innys

I have just done a quick calculation (which of course may be wrong) and the 5.5% bond plus 8% regular saver generate a combined interest of 7% - £170 for the year on a gross basis.

This assumes the bond deposit is £1,000 and the SO is £250/month. Given this, why the rush to go for the bond and the 8% saver?

lipidicman

Well because you are getting that 7% average (I am assuming you are right but will check the calculation*) on £2625 rather than £1625 (average in the RS over the year). Not bad eh?

*working on average balances then you are about correct
1625*.08=130
1000*.055=55 total=185

1625*.07=113.75
an artificial average of 2625 (ie what you have with the combination above)
2625*.07=183.75

ie the two products average to around 7%, but on a much higher average balance than the 7% saver alone
put another way it is like you made 185-113.75= £71.25 on the 1k (if the RS had been 7%), so that combination looks good to me

It is really the equivalent of Abbey letting you whack £1k in the RS as an opening deposit, which is always going to be a winner)

Ditto

Can you open a regular saver account in the branch, or do you have to recieve an application form through the post first.

I already have accounts with Abbey.

exel1966

Went into my local branch today and opened the 2 year Special Growth Bond 5.5% (NOW CLOSED) and Issue 5 (8%) regular saver without any complications. Took about 25 minutes, but that's because I'm a new customer to Abbey so they didn't have any info on me. They were a little surprised I knew about the8% saver as it isn't being advertised and is really only there to upsell their other products. Told them I like to keep abreast of financial matters and wasn't interesred in any other product so they didn't try to sell anything else to me.
Only ID required was Driving Licence and Bank Statement. Walked out with electronic confirmation/account number of my Bond deposit and a Passbook/account for the regular saver.

My thanks to the $17mma and the OP for pointing these out.

Ditto

Can you open a regular saver account in the branch, or do you have to recieve an application form through the post first.

I already have accounts with Abbey




Does the 8% only apply to customers who do not have an existing account with Abey?