Savings accounts that allow you to transfer money out of them by standing order

orangeslimes

What I want is a savings account I can put money in and set up so that a set amount of money is automatically transferred each month to my current account (preferably with a decent interest rate)

Does this exist?

G_M

No. You are describing a current account facility.

However look at Lloyds Vantage c/a which pays up to 4% (with conditions described at length on this and the banking forums)

orangeslimes

G_M wrote: »

No. You are describing a current account facility.

However look at Lloyds Vantage c/a which pays up to 4% (with conditions described at length on this and the banking forums)

Yes I thought I was. 4% interest sounds good but seems quite complicated, and it wouldn't work for my plan anyway - which is basically to limit how much of my savings I spend by only transferring a certain amount to my current account.

My Yorkshire building society internet saver has a facility for regular transfers to Yorkshire Accounts so hoping something similar might exist, but where I can make regular transfers to any account.

CLAPTON

orangeslimes wrote: »

What I want is a savings account I can put money in and set up so that a set amount of money is automatically transferred each month to my current account (preferably with a decent interest rate)

Does this exist?

tesco..............

jem16

CLAPTON wrote: »

tesco..............

Yep Tesco Internet Saver allows you to set up around 4/6 regular payments so that will at least cover a few months at a time.

G_M

Tesco allows 'forward dated' payments to be set up - not regular payments. Each payment must be set up individually, with it's planned date. Currently you can only set up payments for 2010 so you'd have to set up payments into 2011 later.