savings account

shefden

Hi,
Does any one know if one can open a savings account in a bank without having a currant account in a bank with them? Any ideas on the highest interest rate and which account by which bank etc? Thanks. :cool:

davidcampbell

yeah you can open savings with anyone - you dont have to bank with them.

in terms of your second question it depends how much you have, whether you need access etc.

for instant access, alliance and leicester seem pretty good @ 5.35% but if you can save regularly and not dip into it you may secure a higher rate.

if you dont yet have an isa yet, consder that instead as eg alliance and leicester account above will only generate 4.3% roughly after tax (assuming you are a taxpayer) and there are many isas on the market that can beat that

DC

Reaper

And on the A&L theme if you do decide on a cash ISA their's is currently the best (as far as I know) offering 5.4% tax free. Click here.

deemy2004

Also a lot of banks and building societies don't require any ID, they do the checks against Experian etc.

bert

The A&L savings account appears to offer the best rates but I read somewhere u had to pay a minimum £1000 per month into a current account with it. This effectively means switching my bank, which I don't want to do. I want a savings account where I can store credit card payments before paying off the balance just before hte deadline.

Does anyone have any suggestions or am I wrong about A&L savings.

bert

bert wrote:

The A&L savings account appears to offer the best rates but I read somewhere u had to pay a minimum £1000 per month into a current account with it. This effectively means switching my bank, which I don't want to do. I want a savings account where I can store credit card payments before paying off the balance just before hte deadline.

Does anyone have any suggestions or am I wrong about A&L savings.

......bump!

jimclark1967

bert wrote:

......bump!

You don't have to open a current account with A&L to have an Online Saver - It's self conained.

Well, I've got an A&L savings account and no current account anyway

shefden

Thanks every one,
Deemy2004, which are those banks and buildings societys who don,t ask for ID and just check with Experian? :cool:

deemy2004

I opened an Cash ISA with the Derbyshire without any ID.

bert

jimclark1967 wrote:

You don't have to open a current account with A&L to have an Online Saver - It's self conained.

Well, I've got an A&L savings account and no current account anyway

And can I manage that account (send, receive, check balance) online? Is the Online Saver the savings account with the 5.35%

Thank you indeed for your reply Jim Clark.

jimclark1967

bert wrote:

And can I manage that account (send, receive, check balance) online? Is the Online Saver the savings account with the 5.35%

Thank you indeed for your reply Jim Clark.

Yes, it is the 5.35% account.

You can manage everything online, they get you to set up a direct debit from your current account so you can pay money in. I haven't tried a withdrawal yet but should be fairly straightforward.