Instant Access Savings Accounts Article Discussion Area

greyskittles

^that's right, you won't pay any tax on the interest so long as your wages don't go over £5000-and-something. you must fill out an R85 form though as otherwise they just take the tax.

not sure whether you can easily withdraw money from that account, but i have the 2-yr 8% regular saver from Lloyds and I know that there's no penalty if you don't put in any money in a particular month.

Topman_2

greyskittles wrote: »

i have the 2-yr 8% regular saver from Lloyds and I know that there's no penalty if you don't put in any money in a particular month.

Thanks - I was looking at the regular saver account. It has been reduced to just 1yr @ 8% now. Still a good interest rate though. Not sure whether to go with that one and then switch it after the first year when the rate drops to 3% {approx} -

Also, where would I get an R85 form from? The bank? I would probably set an account up at my branch rather than online, just to make perfectly sure that I was getting the best deal.

ggdentist

As this account was recommended my partner and I tried to open accounts. Completed all the forms. We were then asked to send certified proof of ID. Got our solicitors to sign, date, verify etc. Duly sent them off. We were then emailed to say this wasn't enough. We then gave up and asked on 3 occasions to have this information returned. Nothing has been forthcoming. There are now people out there with certified copies of our identity. I'm not happy. Great from a so called 'clean account'!

Moggles_2

I gave up on HiSave some time ago (see #180). Have you considered Icesave?

This is a clean, no-tricks savings a/c which pays a market-leading interest rate without all the headaches. In particular, Icesave has good telephone back-up and comes with a valuable interest rate guarantee.

Chunky_the_saver

This deal is now effectively closed.

After wading throught the website and printing all the stuff, I telephoned to check and was told that they have to have received the printed POSTAL APPLICATION by today (14th August) to qualify. Later applications just get the basic rate, which can be beaten.

So, I guess this deal can dissappear from the list!
:rolleyes:

Moggles_2

Hard luck Chunky
Then again, some MSEs abandoned Tesco after lengthy delays with their application, so perhaps you've had a lucky escape!

I have to say that an internet savings provider which does not accept online applications and is unable to check anyone's ID electronically, leaves something to be desired. This is supposed to be an internet account after all, not a postal account!

Nick_C

Sent my application off on Monday 6th, heard nothing yet, and they've still not cashed my cheque. Glad I only gave them a quid to open, will be closing again immediately if they've not opened it by today.

luv_my_brass

what do ou think to ING's offer of £50 for opening an instant access saving account and another £50 when the savings reach £2,500? The interest rate is 5%.

Can't see anywhere, where it says the money has to remain in the account for a specific length of time.
I was thinking about moving £2,500 from my Northern Rock Tracker account to get the full £100 straight away. What do you think?
I want to get the highest interest rate I can on my savings but I must have the flexibility of being able to move it around and make withdrawals easily and without incurring penalties. I would appreciate your advice.
I am only in receipt of the Government pension, so don't think I will be liable for tax.

greyskittles

Topman wrote: »

Thanks - I was looking at the regular saver account. It has been reduced to just 1yr @ 8% now. Still a good interest rate though. Not sure whether to go with that one and then switch it after the first year when the rate drops to 3% {approx} -

Also, where would I get an R85 form from? The bank? I would probably set an account up at my branch rather than online, just to make perfectly sure that I was getting the best deal.

i have no idea who has the best rates, i just went with Lloyds because i was in the branch opening a student account at the time, and it seemed like a good deal! i'll be shifting my money as soon as the two years is up

as for the R85 form, i think they give you one at the bank, or you can download and print one off here:

http://www.direct.gov.uk/en/Diol1/DoItOnline/DG_4017954

Moggles_2

Originally Posted by luv_my_brass
What do you think of ING's offer of £50 for opening an instant access saving account and another £50 when the savings reach £2,500? The interest rate is 5%.

This offer is by invitation only. Apparently, ING have targeted selected postcodes. Existing customers & former account holders are not eligible so, if you've ever had an account with them, you won't get the extra dosh.

ING have at least 3 versions of this deal on the go: a £20 incentive if you open an account, a £50 payment for deposits of £1000 and a £75 reward for balances over £2500. My understanding is that you cannot qualify for more than one incentive payment though.

Can't see anywhere, where it says the money has to remain in the account for a specific length of time.

Me neither. Anyway, the offer ends on 30 September 2007 & the incentive is paid into your account on 5 October 2007.

I was thinking about moving £2,500 from my Northern Rock Tracker account to get the full £100 straight away. What do you think?

If invited to apply, you'll get £75 for doing this, not £100 (See above).

I am only in receipt of the Government pension ...

Wouldn't you be better off with Northern Rock's Silver Savings in that case? As you say, the ING account pays just 5% AER.

That said, £20 just for opening an account can't be bad.:rolleyes: