Instant Access Savings Accounts Article Discussion Area

poppy10_2

Also you would not be protected by the national deposit insurance scheme - if the bank were to go bust or do a runner with your money, you would lose everything.

MalcBridge

I have to say that although I managed to open an ICICI account without trouble last year and have been entirely satisfied with its subsequent operation, my Partner has been struggling to open one since July. The basic problem was misleading information about authentication requirements in their e-mailed request for proof of identity followed, after the missing information had been sent, by absolutely nothing! E-mails requesting clarification have been completely ignored (not even an automated response), as has one of outright complaint. The first time she managed to get through on the 'phone she was cut off in mid sentence; the second time they either couldn't, or couldn't be bothered to, trace her application. I can only suggest that you look elsewhere until they get themselves sorted out.

harryhound

There used to be some super little tax avoidance schemes in using an off shore tax haven; but the government has clamped down on them. I think there are a lot of the richer people who are decidedly worried about their off shore accounts that they "forgot" to mention in their tax returns. So much so that HMR&C has had some special "concessions" for those prepared to confess; before they start going through the lists that new laws in the EU have enabled them to extract from most of the "European" type tax havens. For those of you with a memory, there are lots of people now caught in the Pigott & Dodd trap.
http://www.taxationweb.co.uk/forum/discuss.php?id=3729
http://www.thisismoney.co.uk/quizzes/quizStn.html?in_quiz_id=14390&in_page_id=87
(I got 80% by underestimating the tax on beer and the pay of the Chancellor.)
http://en.wikipedia.org/wiki/Ken_Dodd (George Carman has since died!)

The extra page in your tax return is not a problem in itself BUT you cannot use the on-line system (unless you were an Abbey shareholder who had kept the Spanish paper.)

Finally it is not advisable to die while you or your money are abroad.
http://en.wikipedia.org/wiki/Charles_Clore

Harry.

koru

harryhound wrote: »

Finally it is not advisable to die while you or your money are abroad.
http://en.wikipedia.org/wiki/Charles_Clore

Picky point for tax geeks only: The Clore case isn't about dying while you are abroad; it is about his failed attempt to avoid UK inheritance tax by claiming he had shifted his domicile to Monaco. Dying whilst he was in London was not of great relevance; it was his homesickness that foiled him.

martinrdg1

Anybody seen this online account paying 6.35% in first year?

http://www.asdafinance.com/internet-savings.html

Seems a good deal to me but am I missing something? They link it to Bradford & Bingley. Thanks.

poppy10_2

martinrdg1 wrote: »

Anybody seen this online account paying 6.35% in first year?

http://www.asdafinance.com/internet-savings.html

Seems a good deal to me but am I missing something? They link it to Bradford & Bingley. Thanks.

includes a bonus of 0.60% gross p.a. for the first 12 months

5.75 doesn't sound so good.:rolleyes: ICICI are offering 6.41.

mersey

just opened account with anglo irish bank only took one week to open pays a good rate 6.30 ,wiil pay at least bank rate until jan 09.

hansi

I took my money out of NR and put it with Sainsburys at 6.25%. I'm now thinking over transferring to this new account and getting monthly interest like I was getting with NR. I know it's only fixed for a year but the consensus is that rates will drop. Would I be doing right, or should I leave it where it is?

murphydavid

hansi wrote: »

I took my money out of NR and put it with Sainsburys at 6.25%. I'm now thinking over transferring to this new account and getting monthly interest like I was getting with NR. I know it's only fixed for a year but the consensus is that rates will drop. Would I be doing right, or should I leave it where it is?

I think that account has a limited capital investment of £2000 a month or is that the 60+ one?

hansi

I think that only apples to the over 6o's account.