M&S Everday savings

SCO

I got a leaflet for the above account.

• 2.35% AER

• intrest calculated daily and paid monthly

is this the same as everyone else?

• no penalty for withdrawals

• start from £1

Is this a competitive account?

premierfella

http://money.marksandspencer.com/save-invest/everyday-savings-account/overview/

The 2.35% AER includes a 1% bonus for 1 year.

So I can't see that the M&S account has much of an advantage over accounts such as the AA
http://www.theaa.com/savings/savings_calculator.jsp
as you are likely to have to switch funds after 1 year from either account to keep getting a competitive rate.

exel1966

SCO wrote: »

I got a leaflet for the above account.

• 2.35% AER

• intrest calculated daily and paid monthly

is this the same as everyone else?

• no penalty for withdrawals

• start from £1

Is this a competitive account?

A quick read of the threads here will tell you that this is not particularly competitive given that there are a number of accounts paying 2.50%+ (albeit also with bonus periods attached).

SCO

Thanks for the reply's.

Is one of the other companys better than the rest, i.e. ING has a uk call centre etc.

alanq

ING is not covered by the UK FSCS. It is instead covered by the Dutch government.

NatWest supports Faster Payments from the account.

I have had not problems in my dealings with ING but I cannot comment on the others.

juicyjude

I have an internet account with Saga (being of that age). My current rate is 2.72 gross interest but again this is with a 12 month bonus! You could do better that the M & S account I'm sure. Just look on this site for the best current rates. Hope this helps

Jake'sGran

I opened an account with Saffron Bldg Society paying 2.65% which is without the usual bonus clause. Shortly after they reduced the rate to 2.25%.

They have assured me that my account will still get 2.65% but I don't know how long for. The service is excellent.