Instant Access Savings Accounts Article Discussion Area

greyskittles

With icesave, is there an option to open more than one account, so that I can separate money into different 'sections' if that makes sense? Not the fixed rate ones which I know they allow you to have more than one of, I mean the ordinary 6.20% ones? Didn't see anything in the help section about this but am sure I read something on here saying you could. Can't seem to figure out HOW to do it though.

samuela66

dibble wrote: »

I too invested my quid and the trouble started! I am trying to deposit money into the accouint bu their system insists on having a 12 digit account number - they sent me only 8. They also allege that the log in id and the password they sent me (the latter in a sealed envelope) were incorrect. The helpline in INDIA is impenetrable and the UK number incomplete. What is going on? Is anybody else living this nightmare?? dibble

I had an account with the above, and everytime I wanted to switch money around the same hassle I could never get into it, had to call the "call centre" every blooming time, soon got fed up and switched it to Icesave, a lot less hassle I will say!:rolleyes:

Moggles_2

Originally Posted by greyskittles
With icesave, is there an option to open more than one account, so that I can separate money into different 'sections'? Not the fixed rate ones which I know they allow you to have more than one of, I mean the ordinary 6.20% ones? Didn't see anything in the help section about this but am sure I read something on here saying you could. Can't seem to figure out HOW to do it though.

Yes. Apply online for the new a/c in the normal way.

When asked whether you're an existing customer, answer yes. If memory serves, you're then asked to quote your existing a/c number.

You can set up as many separate pots as you like. You'll be able to use the same User ID and password to access the accounts. Only the a/c numbers will be different.

Moggles_2

Originally Posted by samuela66
I had an account with the above [ICICI], and everytime I wanted to switch money around the same hassle I could never get into it, had to call the "call centre" every blooming time, soon got fed up and switched it to Icesave, a lot less hassle I will say!

I persevered with HiSave for a long time because it paid consistently high interest rates.

Unfortunately, transfers by direct debit from my linked a/c which, according to ICICI, should be made in 3-4 working days, have always taken 8 working days, if they happened at all!

Pushing money in with a BACS transfer from your linked account takes 4 days IME, but if your linked a/c is a high interest current a/c, you may feel the consequent loss of interest rather defeats the object. Some MSEs have reported delays withdrawing money as well!

This is a pity because HiSave is a clean, no-tricks a/c, paying a market-leading interest rate and ICICI have always raised rates promptly in response to BoE base rate changes.

Thankfully, Icesave offers all this now, without the never-ending hassle!

PussInBoots_3

Hi there

Please accept my apologies if I'm posting in the wrong place.

I am just starting out as Self Employed and want to put a lump by each month towards my tax bill. I would like some advice please regarding the best place to put this money.

I already have a Halifax ISA Saver (4.26% Gross p.a) with a few pound in. Is this a good option for me? Or are there better places I can put my cash?

Any help would be appreciated.

Thank you

Puss x

Moggles_2

Originally Posted by PussInBoots
I am just starting out as Self Employed and want to put a lump [sum] by each month towards my tax bill. I would like some advice please regarding the best place to put this money.

I already have a Halifax ISA Saver (4.26% Gross p.a) with a few pounds in. Is this a good option for me? Or are there better places I can put my cash?

I would certainly max out an easy access, Mini Cash ISA first.
You may want to compare Halifax ISA Saver Direct from your current provider. This pays a variable rate of 5.75% AER/gross.

For further suggestions, have a look at the Best Mini Cash ISA sticky on the ISAs sub-board

PussInBoots_3

Thank you for your kind answer Moggles :rotfl:

I really appreciate it!

:beer:

rarrarrar

I've been using ICICI HiSave for over 2 years.
The transfers do seem a day slower than other banks but I have never had any problems transferring money in or out something I do a couple of times each month.
The only problem has been getting Tax certificates for Interest out of them took 2 months to come this year.
Maybe I've just been lucky.

ukdutypaid

Nope ICICI are excellent, for me anyway..
Cash transfers are a day shorter if anything 30th July out, into linked account 1st of August.
Cash in, is same BACS time, from wherever I send it from. Three days from the date of the send...

There is a 12 digit pin which they send by email (this is obviously diff from the 8 digit account number)
1st pin arrives by post as with all banks. You then change that.

Icesave doesn't pay interest monthly and it's nice to see it show up.

As for the tax form well that's for next year's SA, anyway.....
Highest interest out there as well.

Yep if you're paying into other monthly accounts then that's 4 days out into you're C/A and then another 4 days into the monthly saver..
If you can pay direct from Icesave then that halves it (As does the Sainsbury's one). Still manual every month though, which is a pain...

Moggles_2

Originally Posted by ukdutypaid
Icesave doesn't pay interest monthly and it's nice to see it show up.

I don't know where this notion has come from. IceSave offers annual and monthly interest options.

As an account holder of both, I would recommend IceSave without hesitation. I continue to have reservations about HiSave.
In particular, for a savings account marketed as instant access, prompt reliable customer service is not a luxury add-on, IMO, but a basic requirement.

Highest interest out there as well.

Since the 19 January BoE base rate rise, HiSave has paid 0.1% AER more than IceSave.

I think I can get by without the extra tenner you might earn by leaving say £10,000 in HiSave for a year. This marginal gain is wiped out at a stroke if you have to use a BACS transfer to avoid ICICI's exasperating direct debit process.

That said, I'm glad it's there. ICICI have always raised rates promptly in response to BoE base rate changes and the bank's presence in the UK savings market helps keep competitors on their toes.