First Direct Regular Saver 8%

Gromitt

You can also collect one from a local HSBC branch.

emuzeg

I printed them off, posted the one to FD and gave the other to Lloyds in person. Thanks for your help.

Eco_Miser

Gromitt wrote: »

8% on 300 over 12 months is £156 net (£125 gross for 20% tax payers), so it's definitely 8% net.

6.4% would be gross after talking into account the 20% Tax, not net.

I'm afraid you've got the terms the wrong way round: the gross rate is before tax (8%), the net rate (6.4%) is after tax.

emuzeg

After posting off the claims of tax on interest, how will I know it's been applied to my account, will they write back?

thacky

emuzeg wrote: »

After posting off the claims of tax on interest, how will I know it's been applied to my account, will they write back?

No, they won't. When they apply your interest 12 months from opening the account you will see that no tax has been deducted.

bettz

I've just joined first direct & i'm in the process of setting up a 1st account with the intention of setting up a regular saver account to get the 8% interest.

I'm going to be transferring £300 a month out my halifax account into the saver account & then transferring £1,500 a month out my halifax account into my 1st account and then back into my halifax account the next day.

Am i on the right track will i avoid all fees?

KTF

Just transfer in 1500 then transfer out 1200 so there is 300 left to transfer into the regular saver.

The 1500 can be transfered in and out instantly. It doesn't have to be left overnight.

bettz

KTF wrote: »

Just transfer in 1500 then transfer out 1200 so there is 300 left to transfer into the regular saver.

The 1500 can be transfered in and out instantly. It doesn't have to be left overnight.

Thanks thats what i thought im going to be setting up a standing order sorry thats what i meant to write lol just re read what i put why give myself the extra hassle :T

simpleguy_blr

bettz wrote: »

Thanks thats what i thought im going to be setting up a standing order sorry thats what i meant to write lol just re read what i put why give myself the extra hassle :T

Alternatively just open an Everyday e-Saver with them and stick in one pound in that account and this would count as an "additional product" as specified in the banking terms and conditions, you really need not transfer £1500 every month with this setup.

I am currently doing this and has been previously posted in this very thread
http://forums.moneysavingexpert.com/showpost.php?p=51313817&postcount=179

HTH

bettz

simpleguy_blr wrote: »

Alternatively just open an Everyday e-Saver with them and stick in one pound in that account and this would count as an "additional product" as specified in the banking terms and conditions, you really need not transfer £1500 every month with this setup.

I am currently doing this and has been previously posted in this very thread
http://forums.moneysavingexpert.com/showpost.php?p=51313817&postcount=179

HTH

Brilliant thanks for that £1 in the 1st account & i'll transfer £300 into saver account