looking for savings account to feed current account

phynbarr

Newly separated. Need to sort out finances. Would like salary paid into savings account in order to feed current account.

Best options?

alanq

I think that this question would get more replies on the MSE Savings Forum.
http://forums.moneysavingexpert.com/forumdisplay.php?f=17

Tesco Internet Saver (2.6% AER) and NatWest [STRIKE]eSaver[/STRIKE] e-Savings (2.89% AER) - both rates include bonuses for 1 year.
Both these savings accounts support Faster Payments so money can be transferred almost immediately to your current account.

For discussion of the NatWest account (new rates started today) see https://forums.moneysavingexpert.com/discussion/2754900

monkeyspanner

alanq wrote: »

I think that this question would get more replies on the MSE Savings Forum.
http://forums.moneysavingexpert.com/forumdisplay.php?f=17

Tesco Internet Saver (2.6% AER) and NatWest eSaver (2.89% AER) - both rates include bonuses for 1 year.
Both these savings accounts support Faster Payments so money can be transferred almost immediately to your current account.

For discussion of the NatWest account (new rates started today) see https://forums.moneysavingexpert.com/discussion/2754900

The Tesco internet account is good for virtually immediate transfers (also works at weekends). You need to ask for a card reader (extra security measure) as soon as you set up the account and this can take a while to arrive so probably best to get everything set up prior to using it for your wages.

Tesco finance site is ok but not the easiest to navigate around but fine when you get used to it.

alanq

monkeyspanner wrote: »

You need to ask for a card reader (extra security measure) as soon as you set up the account and this can take a while to arrive so probably best to get everything set up prior to using it for your wages.

I agree. Opening a Tesco account has more steps than any other I have experienced. Some people have reported long delays getting a card and/or card reader. It took me about 3 weeks in all to open an account but with no long delay at any one stage.

I suspect NatWest will be similar so expect to wait a month or so before being fully operational.

jennifernil

If you have at least £3000 in savings to deposit then you could consider a Lloyds Vantage account.

It is actually a current account, but pays 3% interest on balances over £3000, and 4% on balances of £5000-£7000. If you have over £7000 it pays nothing, but you can have 3 of these accounts in total.

Interest is paid monthly, and you must have at least £1000 coming into the account every month. This can be wages, pension, transfer from some other account, even transfers between Vantage accounts.

If you had that account, you could even use it as your current account.

Savvy_Sue

MOVING THREADS FOR BETTER RESPONSES

Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere(please see this rule) so this post/thread has been moved to another board, where it should get more replies. If you have any questions about this policy please email [EMAIL="abuse@moneysavingexpert.com"]!!!!!![/EMAIL].